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Despite the above noted limitations and concerns recent econometric research looking at how reliable some of these indicators are, vis-a-vis data collected from natural experiments and other observational surveys, have actually concluded that the Good Governance Indicators do in fact seem to be measuring, albeit imperfectly, levels of corruption and government effectiveness. [9]
It is part of a broader set of government quality indicators. [2] [3] The World Bank releases the government effectiveness index as one of six worldwide governance indicators. The others are voice and accountability, political stability, regulatory quality, the rule of law, and control of corruption. [4]
For the World Bank, good governance consists of the following components: capacity and efficiency in public sector management, accountability, legal framework for development, and information and transparency. [18] The Worldwide Governance Indicators is a program funded by the World Bank to measure the quality of governance of over 200 countries.
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.
The policy report is then used by the country to design a specific action plan for governance improvement A dissemination phase (Phase 5), to disseminate the results of the analysis completed in Phase 4 to local and central governments, citizens, media and research agencies.
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
A variety of other organizations use V-Dem's dataset in the construction of their indicators. [11] [12] The World Bank's Worldwide Governance Indicators also use V-Dem's data to inform their Control of Corruption indicator (includes V-Dem's Corruption index), Rule of Law Indicator (includes V-Dem's liberal component index), and the Voice and ...
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