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The Impact of Voice and Accountability in the ESG Framework in a Global Perspective

Alberto Costantiello () and Angelo Leogrande

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Abstract: We estimate the value of Voice and Accountability-VA in the context of the Environmental, Social and Governance-ESG data of the World Bank using data from 193 countries in the period 2011-2021. We use Panel Data with Fixed Effects, Panel Data with Random Effects and Pooled Ordinary Least Squares-OLS. We found that the level of VA is positively associated, among others, to "Maximum 5-Day Rainfall", and "Mortality Rate Under 5" and negatively associated, among others, to "Adjusted Savings: Natural Resources Depletion", and "Annualized Average Growth Rate in Per Capita Real Survey Mean Consumption or Income". Furthermore, we apply the k-Means algorithm optimized with the Elbow Method. We found the k-Means useless due to the low variance of the variable among countries with the result of a hyper-concentration of elements in a unique cluster. Finally, we confront eight machinelearning algorithms for the prediction of VA. Polynomial Regression is the best predictive algorithm according to R-Squared, MAE, MSE and RMSE. The level of VA is expected to growth on average of 2.92% for the treated countries.

Keywords: Analysis of Collective Decision-Making General Political Processes: Rent-Seeking Lobbying Elections Legislatures and Voting Behaviour Bureaucracy Administrative Processes in Public Organizations Corruption Positive Analysis of Policy Formulation Implementation D7; D70; D72; D73; D78; Analysis of Collective Decision-Making; General; Political Processes: Rent-Seeking; Lobbying; Elections; Legislatures; and Voting Behaviour; Bureaucracy; Administrative Processes in Public Organizations; Corruption; Positive Analysis of Policy Formulation; Implementation D7; Analysis of Collective Decision-Making General Political Processes: Rent-Seeking Lobbying Elections Legislatures and Voting Behaviour Bureaucracy Administrative Processes in Public Organizations Corruption Positive Analysis of Policy Formulation Implementation D7; D70; D72; D73; D78; Implementation D7; D70; D72; D73; D78 (search for similar items in EconPapers)
Date: 2023-03-23
New Economics Papers: this item is included in nep-env and nep-pol
Note: View the original document on HAL open archive server: https://hal.science/hal-04043775
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: THE IMPACT OF VOICE AND ACCOUNTABILITY IN THE ESG FRAMEWORK IN A GLOBAL PERSPECTIVE (2024) Downloads
Working Paper: The Impact of Voice and Accountability in the ESG Framework in a Global Perspective (2023) Downloads
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