“Editors Note: The updated version of the Worldwide Governance Indicators, covering 213 countries over the 1996-2009 period was released today at www.govindicators.org. It is accompanied by a new report, The Worldwide Governance Indicators: Methodology and Analytical Issues. The WGI constitute one of the largest and well-known compilations of cross-country data on governance. Overall, the world continues to underperform on governance. Over the past decade, dozens of countries have improved significantly on such dimensions of governance such as rule of law and voice and accountability. But a similar number of countries have experienced marked deteriorations, while others have seen short-lived improvements that are later reversed, and scores of countries have not seen significant trends one way or the other. Some countries, such as the Nordics, show that very high standards of governance can be attained, yet they and a few others are exceptions. Serious governance challenges can be found in every region of the world, and at all income levels. And subpar governance is an issue for rich and poor countries alike. Recent research using the Worldwide Governance Indicators (WGI) shows that industrial countries with more corruption also have higher budget deficits. Further, the evidence for developed and developing countries suggests that good governance can have a major positive impact on development.”
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