Business Environment Index for Developing Countries: The Case of Latin America |
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Authors: | Marek Vokoun Lourdes Gabriela Daza Aramayo |
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Affiliation: | 1. Department of Management, Institute of Technology and Business, ?eské Budějovice, Czech Republicmarek.vokoun@mail.vstecb.cz;3. Center for Latin American Studies, University of Economics, Prague, Czech Republic |
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Abstract: | This article develops a new business environment index with indicators that are appropriate, broadly available for developing regions, and, most importantly, are not double-edged. We used the index to analyze the business environment in Latin America, and it suggests the main role of basic economic principles, institutional economics approach and historical context. We propose the identification of an interdisciplinary variable as well as interpretation of the index, based on 10 factors divided into three dimensions (economic, institutional, and social). The novelty is in the consideration of past values; it is neither based on popularity votes, and nor does it favor large economies. |
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Keywords: | Business environment competitiveness index institutions Latin America |
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