Lots of circuses, not enough bread: EM’s failure to reform and invest – beyondbrics - Blogs - FT.com

Lots of circuses, not enough bread: EM’s failure to reform and invest – beyondbrics - Blogs - FT.com:



"Last week, Alexander Lukashenko, president of Belarus, bafflingly announced he would sign a decree that would return to the status quo in 1861 and reinstate serfdom. When it comes to backsliding on economic modernisation, Mr Lukashenko is clearly a world-beater.



Yet other emerging markets, while not actually going backwards, have shown little enthusiasm in recent years for bold policy moves to streamline regulation, tackle corruption, improve the legal environment and, most particularly, build the infrastructure needed for a modern economy.



While by no means infallible, the World Bank’s Doing Business report does give a rough guide to the ease of doing business in any particular economy, and it is striking how low are the ratings for some big emerging economies. For the BRICS, for example, South Africa ranks relatively highly at 41st out of 189 countries, but Russia is 92nd, China 96th, Brazil 116th and India 134th."



'via Blog this'