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Governance matters

Daniel Kaufmann, Aart Kraay (akraay@worldbank.org) and Pablo Zoido-Lobaton

No 2196, Policy Research Working Paper Series from The World Bank

Abstract: In a cross-section of more than 150 countries, the authors provide new empirical evidence of a strong causal relationship from better governance to better development outcomes. They base their analysis on a new database containing more than 300 governance indicators compiled from a variety of sources. They provide a detailed description of each of these indicators and sources. Using an unobserved components methodology (described in the companion paper by the same authors,"Aggregating Governance Indicators,"Policy Research Working Paper 2195), they then construct six aggregate indicators corresponding to six basic governance concepts: voice and accountability, political instability and violence, government effectiveness, regulatory burden, rule of law, and graft. As measured by these indicators, governance matters for development outcomes.

Keywords: Banks&Banking Reform; Decentralization; Health Economics&Finance; Corruption&Anitcorruption Law; Public Sector Corruption&Anticorruption Measures; Health Economics&Finance; National Governance; Statistical&Mathematical Sciences; Governance Indicators; Economic Policy; Institutions and Governance (search for similar items in EconPapers)
Date: 1999-10-31
References: Add references at CitEc
Citations: View citations in EconPapers (262)

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