This is the 27th edition of the annual World Development Report and this edition focuses on a key development challenge of how governments can promote a strong investment climate in their societies, in order to foster economic growth and address poverty reduction objectives. Drawing on surveys of nearly 30,000 firms in 53 developing countries, as well as country case studies and other new research, the report explores options for expanding opportunities for firms and entrepreneurs of all types, from farmers and microenterprises to local manufacturing concerns and multinationals, to invest productively and create job opportunities. Findings drawn include that a strong investment climate should benefit society as a whole as well as individual firms, requires well-designed regulation and taxation systems. and should recognise and embrace the contributions of all types of firms to growth and poverty reduction. Governments need to address barriers to competitiveness and bridge the gap between policies and their implementation and address deeper sources of policy failure which can undermine a sound investment climate. The report also contains selected data from the World Bank's programme of Investment Climate Surveys and the Doing Business Project, as well as from the World Development Indicators 2004.
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