Measuring The Ups And Downs Of Governance.
Governance can be broadly defined as the set of traditions and institutions by which authority in a country is exercised. This includes (1) the process by which governments are selected, monitored and replaced, (2) the capacity of the government to effectively formulate and implement sound policies, and (3) the respect of citizens and the state for the institutions that govern economic and social interactions among them. The 6 dimensions of governance measured by the Worldwide Governance Indicators are:
- Voice and Accountability – capturing perceptions of the extent to which a country’s citizens are able to participate in selecting their government, as well as freedom of expression, freedom of association, and a free media.
- Political Stability and Absence of Violence/Terrorism– capturing perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism.
- Government Effectiveness– capturing perceptions of the quality of public services, the quality of the civil service and the degree of its independence from political pressures, the quality of policy formulation and implementation, and the credibility of the government’s commitment to such policies.
- Regulatory Quality – capturing perceptions of the ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development.
- Rule of Law – capturing perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence.
- Control of Corruption– capturing perceptions of the extent to which public power is exercised for private gain, including both petty and grand forms of corruption, as well as “capture” of the state by elites and private interests. Credit: The World Bank Group.
Read Articles Here: