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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]
This approach has empowered governments to develop their own governance and anti-corruption strategies based on more objective, micro-level data and a participatory model. The data collected have also allowed practitioners to go beyond a generic concept of corruption by unbundling different types of corruption and identifying more appropriate ...
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 informal group of financial leaders, city lawyers, and environmental stewardship NGOs became known as The Virtuous Circle, and its brief was to examine the nature of the correlation between environmental and social standards and financial performance. Several of the world's big banks and investment houses began to respond to the growing ...
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]
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.
For the poorest developing countries in the world, the bank's assistance plans are based on poverty reduction strategies; by combining an analysis of local groups with an analysis of the country's financial and economic situation the World Bank develops a plan pertaining to the country in question. The government then identifies the country's ...