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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]
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.
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.
Two types Diagnostics have been developed: (i) General Governance and Anti-corruption Diagnostics, which require a broad approach to assessing the governance and anti-corruption situation in a country and (ii) Sectoral Governance and Anti-Corruption Diagnostics, which assess a particular sector within the broader GAC context. [1]
While at the World Bank during the 1990s, Kaufmann and his colleague Aart Kraay developed the Worldwide Governance Indicators (WGI). The Worldwide Governance Indicators measure six dimensions of governance: Voice and Accountability , Political Stability and Absence of Violence , Government Effectiveness, Regulatory Quality, Rule of Law and ...
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 ...