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As the SDGs become reality, countries continue to seek for options to meet the new goals and to keep track of their progress. This includes efforts related to the new Goal 16, "Justice and Peace". Achieving the SDGs requires implementation in many areas. Today, courts in many countries are undergoing reforms, are interested in hearing about new trends in court operations elsewhere and in tracking court performance. The World Bank's new publication "Good Practice for Courts-Helpful Elements for Good Court Performance and the World Bank's Quality of Judicial Process Indicator (QJPI)" addresses this desire. Focusing on the 15 QJPI good practice areas, the publication reflects the findings from country studies and other reports from around the world that show how modern management approaches and advanced technologies provide new opportunities for courts and other justice sector agencies to modernize their operations to better reflect the changing needs of their communities as well as those of national and international markets. Simultaneously, the OECD, in collaboration with the Open Society Foundation, are focusing on collecting and highlighting innovative country approaches to promote access to legal and justice services as determinant of inclusive growth and contributor to the realization of Sustainable Development Goals.
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This paper estimates the survival time of nearly 7,000 firms in a dozen high-income and middle-income countries in a scenario of extreme economic distress, using the World Bank's Enterprises Surveys. Under the assumption that firms have no incoming revenues and cover only fixed costs, the median survival time across industries ranges within 8 to 19 weeks, while on average firms have liquidity to survive between 12 and 38 weeks. Schumpeter's theory of creative destruction is not corroborated in the data, as potential exit is not predicated on the size of firms, their age, or their productivity.
Bankruptcy and Resolution of Financial Distress --- Business Cycles and Stabilization Policies --- Creative Destruction --- Economic Conditions and Volatility --- Economic Crisis --- Economic Distress --- Enterprise Survey --- Firm Exit --- Firm Hybernation --- Firm Survival --- Private Sector Economics --- Survival Time
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We examine a new data set of laws and practices governing public procurement, as well as procurement outcomes, in 187 countries. We measure regulation as restrictions on discretion of the procuring agents. We find that laws and practices are highly correlated with each other across countries, better practices are correlated with better outcomes, but laws themselves are not correlated with outcomes. To shed light on this puzzle, we present a model of procurement in which both regulation and public sector capacity determine the efficiency of procurement. In the model, regulation is effective in countries with low public sector capacity, and detrimental in countries with high public sector capacity because it inhibits the socially optimal exercise of discretion. We find evidence broadly consistent with this prediction: regulation of procurement improves outcomes, but only in countries with low public sector capacity.
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