THE REGIONAL IMPACTS OF THE 2008-2009 GLOBAL CRISIS ON GOVERNANCE

Halil Dincer Kaya
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Halil Dincer Kaya: NORTHEASTERN STATE UNIVERSITY

Annals - Economy Series, 2017, vol. 2, 80-90

Abstract: In this study, we examine the regional impacts of the 2008-2009 Global Crisis on Governance. We use World Bank’s Worldwide Governance Indicators (i.e. WGI) which includes six dimensions of governance. These six dimensions are “Voice and Accountability”, “Political Stability and Absence of Violence”, “Government Effectiveness”, “Regulatory Quality”, “Rule of Law”, and “Control of Corruption”. The regions that we examine are North America, Europe and Central Asia, Latin America and Caribbean, East Asia and Pacific, South Asia, Sub- Saharan Africa, and Middle East and North Africa. We examine how the global crisis affected the ranking of each region in terms of these six dimensions of governance. Although, both pre- and post-crisis, North America had the highest ranking in all six mea sures and Sub-Saharan Africa had the lowest ranking in most measures, the rankings of other regions went up or down in different measures. Our findings show that, due to the crisis, while the overall rankings of Europe and Central Asia, Latin America and Caribbean, and South Asia improved after the crisis, the ranking of East Asia and Pacific declined. East Asia and Pacific’s ranking declined in terms of “Political Stability and Absence of Violence”, “Regulatory Quality”, and “Control of Corruption”.

Keywords: governance; wgi; economic crisis; region (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2017:v:2:p:80-90

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