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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]
Good governance in the New Yorkish context of countries is a broad term, and in that regards, it is difficult to find a unique definition. According to Fukuyama (2013), [6] the ability of the state and the independence of the bureaucracy are the two factors that determine whether governance is excellent or terrible.
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 Sustainable Governance Indicators (SGI), first published in spring 2009 and updated in 2011, analyze and compare the need for reform in Organisation for Economic Co-operation and Development (OECD) member countries, as well as each country's ability to respond to current social and political challenges.
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 Ibrahim Index of African Governance (IIAG), established in 2007, provides an assessment of the quality of governance in African countries. The IIAG is compiled by 81 indicators and 265 variables from 54 data projects, coming from 47 independent African and international data sources.
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:
As of 2022, the V-Dem Institute published 483 indicators and republishes 59 other indicators. [3] [4] V-Dem publishes five core indices with several other supplementary indices. The core indices are the electoral democracy index, the liberal democracy index, the participatory democracy index, the Deliberative Democracy Index and the egalitarian ...