Collectivity of Saint-Barthélemy | Svalbard and Jan Mayen | Saint Pierre and Miquelon | Principality of Monaco | Bailiwick of Guernsey | Scotland | Territory of the French Southern and Antarctic Lands | Republic of Kosovo | Republic of Namibia | England | Department of Mayotte | Tokelau | Republic of the Marshall Islands | Bailiwick of Jersey | Pitcairn, Henderson, Ducie and Oeno Islands | Saint Helena, Ascension and Tristan da Cunha | Antarctica | Wales | Northern Ireland | Åland Islands | Territory of Christmas Island | Isle of Man | Bouvet Island | United States Minor Outlying Islands | Greenland | Territory of the Wallis and Futuna Islands | British Indian Ocean Territory | South Georgia and the South Sandwich Islands | Falkland Islands | Vatican City State | Territory of the Cocos (Keeling) Islands | Hong Kong Special Administrative Region of the People's Republic of China | Republic of Nauru | Territory of Norfolk Island | Western Sahara | Territory of Heard Island and McDonald Islands | Time (years)
The time to resolve insolvency captures the time for creditors to recover their credit and is recorded in calendar years. Potential delay tactics by the parties, such as the filing of dilatory appeals or requests for extension, are taken into consideration. Development relevance: Keeping viable businesses operating is among the most important goals of insolvency systems. A good insolvency regime should inhibit the premature liquidation of sustainable businesses. It should also discourage lenders from issuing high-risk loans, and managers and shareholders from taking imprudent loans and making other reckless financial decisions. A firm suffering from poor management choices or a temporary economic downturn can still be turned around. When this happens, all stakeholders benefit. Creditors can recover a larger part of their investment, more employees keep their jobs and the network of suppliers and customers is preserved. Limitations and exceptions: The Doing Business methodology has five limitations that should be considered when interpreting the data. First, for most economies the collected data refer to businesses in the largest business city and may not be representative of regulation in other parts of the economy. Second, the data often focus on a specific business form—generally a limited liability company (or its legal equivalent) of a specified size—and may not be representative of the regulation on other businesses. Third, transactions described in a standardized case scenario refer to a specific set of issues and may not represent the full set of issues that a business encounters. Fourth, the measures of time involve an element of judgment by the expert respondents. When sources indicate different estimates, the time indicators reported in Doing Business represent the median values of several responses given under the assumptions of the standardized case. Finally, the methodology assumes that a business has full information on what is required and does not waste time when completing procedures. In practice, completing a procedure may take longer if the business lacks information or is unable to follow up promptly. Alternatively, the business may choose to disregard some burdensome procedures. For both reasons the time delays reported in Doing Business would differ from the recollection of entrepreneurs reported in the World Bank Group Enterprise questionnaires or other firm-level questionnaires.. Statistical concept and methodology: Data are collected by the World Bank Group with a standardized questionnaire that uses a simple business case to ensure comparability across economies and over time—with assumptions about the legal form of the business, its size, its location and nature of its operation. Questionnaires are administered to more than 13,800 local experts, including lawyers, business consultants, accountants, freight forwarders, government officials and other professionals routinely administering or advising on legal and regulatory requirements. The Doing Business data are based on a detailed reading of domestic laws, regulations and administrative requirements as well as their implementation in practice as experienced by private firms. The report covers 190 economies—including some of the smallest and poorest economies, for which little or no data are available from other sources. The data are collected through several rounds of communication with expert respondents (both private sector practitioners and government officials), through responses to questionnaires, conference calls, written correspondence and visits by the team. Doing Business relies on four main sources of information: the relevant laws and regulations, Doing Business respondents, the governments of the economies covered and the World Bank Group regional staff.
Publisher
The World Bank
Origin
Territory of Heard Island and McDonald Islands
Records
17
Source
Create chart Download showed records Download Full dataset
Collectivity of Saint-Barthélemy | Svalbard and Jan Mayen | Saint Pierre and Miquelon | Principality of Monaco | Bailiwick of Guernsey | Scotland | Territory of the French Southern and Antarctic Lands | Republic of Kosovo | Republic of Namibia | England | Department of Mayotte | Tokelau | Republic of the Marshall Islands | Bailiwick of Jersey | Pitcairn, Henderson, Ducie and Oeno Islands | Saint Helena, Ascension and Tristan da Cunha | Antarctica | Wales | Northern Ireland | Åland Islands | Territory of Christmas Island | Isle of Man | Bouvet Island | United States Minor Outlying Islands | Greenland | Territory of the Wallis and Futuna Islands | British Indian Ocean Territory | South Georgia and the South Sandwich Islands | Falkland Islands | Vatican City State | Territory of the Cocos (Keeling) Islands | Hong Kong Special Administrative Region of the People's Republic of China | Republic of Nauru | Territory of Norfolk Island | Western Sahara | Territory of Heard Island and McDonald Islands | Time (years)
2004
2005
2006
2007
2008
2009
2 2010
2 2011
2 2012
2 2013
2 2014
2 2015
2 2016
2 2017
2 2018
2 2019
2 2020
Collectivity of Saint-Barthélemy | Svalbard and Jan Mayen | Saint Pierre and Miquelon | Principality of Monaco | Bailiwick of Guernsey | Scotland | Territory of the French Southern and Antarctic Lands | Republic of Kosovo | Republic of Namibia | England | Department of Mayotte | Tokelau | Republic of the Marshall Islands | Bailiwick of Jersey | Pitcairn, Henderson, Ducie and Oeno Islands | Saint Helena, Ascension and Tristan da Cunha | Antarctica | Wales | Northern Ireland | Åland Islands | Territory of Christmas Island | Isle of Man | Bouvet Island | United States Minor Outlying Islands | Greenland | Territory of the Wallis and Futuna Islands | British Indian Ocean Territory | South Georgia and the South Sandwich Islands | Falkland Islands | Vatican City State | Territory of the Cocos (Keeling) Islands | Hong Kong Special Administrative Region of the People's Republic of China | Republic of Nauru | Territory of Norfolk Island | Western Sahara | Territory of Heard Island and McDonald Islands | Time (years)
The time to resolve insolvency captures the time for creditors to recover their credit and is recorded in calendar years. Potential delay tactics by the parties, such as the filing of dilatory appeals or requests for extension, are taken into consideration. Development relevance: Keeping viable businesses operating is among the most important goals of insolvency systems. A good insolvency regime should inhibit the premature liquidation of sustainable businesses. It should also discourage lenders from issuing high-risk loans, and managers and shareholders from taking imprudent loans and making other reckless financial decisions. A firm suffering from poor management choices or a temporary economic downturn can still be turned around. When this happens, all stakeholders benefit. Creditors can recover a larger part of their investment, more employees keep their jobs and the network of suppliers and customers is preserved. Limitations and exceptions: The Doing Business methodology has five limitations that should be considered when interpreting the data. First, for most economies the collected data refer to businesses in the largest business city and may not be representative of regulation in other parts of the economy. Second, the data often focus on a specific business form—generally a limited liability company (or its legal equivalent) of a specified size—and may not be representative of the regulation on other businesses. Third, transactions described in a standardized case scenario refer to a specific set of issues and may not represent the full set of issues that a business encounters. Fourth, the measures of time involve an element of judgment by the expert respondents. When sources indicate different estimates, the time indicators reported in Doing Business represent the median values of several responses given under the assumptions of the standardized case. Finally, the methodology assumes that a business has full information on what is required and does not waste time when completing procedures. In practice, completing a procedure may take longer if the business lacks information or is unable to follow up promptly. Alternatively, the business may choose to disregard some burdensome procedures. For both reasons the time delays reported in Doing Business would differ from the recollection of entrepreneurs reported in the World Bank Group Enterprise questionnaires or other firm-level questionnaires.. Statistical concept and methodology: Data are collected by the World Bank Group with a standardized questionnaire that uses a simple business case to ensure comparability across economies and over time—with assumptions about the legal form of the business, its size, its location and nature of its operation. Questionnaires are administered to more than 13,800 local experts, including lawyers, business consultants, accountants, freight forwarders, government officials and other professionals routinely administering or advising on legal and regulatory requirements. The Doing Business data are based on a detailed reading of domestic laws, regulations and administrative requirements as well as their implementation in practice as experienced by private firms. The report covers 190 economies—including some of the smallest and poorest economies, for which little or no data are available from other sources. The data are collected through several rounds of communication with expert respondents (both private sector practitioners and government officials), through responses to questionnaires, conference calls, written correspondence and visits by the team. Doing Business relies on four main sources of information: the relevant laws and regulations, Doing Business respondents, the governments of the economies covered and the World Bank Group regional staff.
Publisher
The World Bank
Origin
Territory of Heard Island and McDonald Islands
Records
17
Source
Create chart Download showed records Download Full dataset