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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.
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 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]
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 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.
Different organisations have defined governance and good governance differently. The World Bank defines governance as: the manner in which power is exercised in the management of a country's economic and social resources for development. [61] The Worldwide Governance Indicators project of the World Bank defines governance as:
Growth in bank lending to firms rose to 1.5 per cent in December, up from 1.0 per cent in November, amid a strong monthly flow. Growth in debt securities issued by firms moderated to 3.2 per cent ...