Extension of Indicators for the Business Insolvency Topic of the Business Enabling Environment Project by the World Bank Group

Abstract

Changing geopolitical realities in recent years reveal significant challenges and shortcomings in the global system that had led the world to its present parlous state and has accentuated national social and societal concerns. An important issue that requires a response from national Governments in many countries, as well as more social research, is the protection of workers' claims in case of insolvency. This issue has multiple aspects, such as legislative regulation of bankruptcy (insolvency) and restructuring, and the creation of guarantee institutions that should be designed to protect employees' claims. It also suggests information support of former employees and fosters their mobility territorial coordination, and internationalization, shares of labor market information, recognition of formal, informal and non-formal education and training, social dialogue, etc. In this article, we concentrate on the methodology of a new Business Enabling Environment rating projected by the World Bank Group and analyze the methodology of it, trying to determine if the issue mentioned above, as well as the protection of workers' rights and human social interests of society at large, have been reflected in the concept of the project.