Measuring Economic Governance at the Subnational Level

A dynamic and healthy private sector is widely regarded as the engine of long-term economic development. Countries compete to attract investment and those that succeed in creating business environments that support competitive entrepreneurs have reaped significant economic growth. Sound national policies are not sufficient to achieve balanced and equitable economic progress. Efforts to promote competition at the local level must complement national efforts, especially for micro, small, and medium enterprises (MSMEs), the major source of employment for most countries in Asia.