The World Bank has published the “Quality of Management” report, which includes information about 213 countries throughout the years of 1996-2005. The report states that Armenia has progressed by passing laws for developing the private sector of economy and applying those laws. The authors of the report Daniel Kaufman and Art Cray state that the populations of North America and Western Europe have high living standards and that provides good quality of management. There is a high level of ineffective management, crimes and corruption in poor countries. The authors take into consideration six factors-provision of free elections and freedom of speech, stability of the political field and lack of violence, effective management, passing of laws helping the development of the private sector of economy and application of those laws, power of the law and control on corruption.
