This year’s APEC Economic Policy Report (AEPR) discusses the complex topic of Structural Reform and an Enabling Environment for Inclusive, Resilient and Sustainable Businesses. In particular, it sheds light on the important intersection between private activity and the public interest.
The AEPR highlights the importance of ensuring a conducive business environment, one that reduces transaction costs and facilitates firm entry, operation and closure. Not only is this good for business and competitiveness, but it also gives firms the space to contribute toward inclusion, resilience and sustainability goals. It further highlights the importance of measuring and recognising firms’ contributions toward the public interest, be it in eliminating greenhouse gas emissions or serving underserved communities. In the same vein, it points out that policymakers can, through structural reform policies, do more to enable businesses, especially small and medium enterprises (SMEs), to contribute toward social goals; measure progress regularly and comprehensively; and incentivise private sector investment toward inclusion, resilience and sustainability.
The report was drafted by a team comprising Emmanuel A. San Andres, Glacer Niño A. Vasquez, Tess Perselay, Nathan Frey and a team at Sapere Research Group comprising Veronica Jacobsen, Jamie O’Hare, Kelvin Woock and Rory McLeod. This report has also benefited from peer review and inputs by the members of the EC.