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Based on a long-standing research program of the World Bank, the Worldwide Governance Indicators capture six key dimensions of governance (Voice & Accountability, Political Stability and Lack of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption) between 1996 and present.
The World Bank introduced the concept in its 1992 report entitled "Governance and Development". According to the document, good governance is an essential complement to sound economic policies and is central to creating and sustaining an environment which fosters strong and equitable development.
The government effectiveness index is a ranking of state capacity developed by the World Bank Group.It measures the quality of public services, civil service, policy formulation and implementation, and the credibility of a government's commitment to improving or maintaining these aspects.
The second goal is to motivate world-governance actors to consider the resulting WGI and the relative importance of the different indicators. This should allow them to identify the "key" or "pilot" indicators that will set up the conditions for good world governance and, more importantly, guarantee their sustainability.
Actionable Governance Indicators; Kaufmann, D., S. Pradhan and R. Ryterman (1998) "New frontiers in diagnosing and combating corruption", World Bank; World Bank Governance and Public Sector Management; Worldwide Governance indicators
The Open Knowledge Repository is the official open-access repository of the World Bank and features research content about development. [1] It was launched in 2012, [1] alongside the World Bank's Open Access Policy and its adoption of the Creative Commons Attribution (CC BY) license for all research and knowledge products that it publishes, which collectively made the World Bank the first ...
[12] [13] Thereafter, as a Director of the World Bank Institute, he initiated and led the program on global governance and anti-corruption. He also served as lead economist in the research department and was later a manager of the finance, regulation and governance unit. [ 10 ]
The term world governance is broadly used to designate all regulations intended for organization and centralization of human societies on a global scale. The Forum for a new World Governance defines world governance simply as "collective management of the planet". [7]