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Countries differ significantly in the way in which they regulate the entry of new businesses. To meet government requirements for starting to operate a business in Austria, an entrepreneur must complete 12 procedures taking at least 154 business days and pay US11, 612 in government fees. To do the same, an entrepreneur in Bolivia needs to follow 20 different procedures, pay US2, 696 in fees to the government and wait at least 82 business days to acquire the necessary permits. In contrast, an entrepreneur in Canada can finish the process in roughly 2 days by paying US280 in government fees and completing only 2 procedures.
Simeon Djankov (Fri,) studied this question.
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