Business Environment and Economic Development: Regression Analysis based on the Panel Data from the World Bank

The economic development environment of the place where it is located has significant impact on the economic development of a country or region. A good business environment system can often play an important role in promoting the good operation of enterprises, and thus flourish the economy of a country or region. This paper used the data from open database of the World Bank Group for 156 countries and regions from 2004 to 2017 to verify the impact of business environment optimization on the economic development of a country or region. The results showed that the economic development of the places where their business environment is improved will be significantly better than no improvement, and the results are also robust after the problem of endogeneity is dealt with.