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Most people agree that a good investment climate is essential for growth and poverty reduction. Less clear is how to achieve it. Drawing from more than 25 case studies, this book shows that reform often requires paying as much attention to dealing with the politics and institutional dimensions as to designing policy substance. While there is no single recipe or 'manual' for reform, the authors highlight three broad lessons. The first is to recognize and seize opportunities for reform. Crisis and new governments are important catalysts, but so is the competition generated by trade integration...