WGI meaning in Governmental ?

Answer:

What is Worldwide Governance Indicators mean?

Based on a long-standing research program of the World Bank, the Worldwide Governance Indicators capture six key dimensions of governance (Voice & Accountability, Political Stability and Lack of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption) between 1996 and present. They measure the quality of governance in over 200 countries, based on close to 40 data sources produced by over 30 organizations worldwide and are updated annually since 2002.

The governance indicators contribute to the growing empirical research of governance which have provided activists and reformers worldwide with advocacy tools for policy reform and monitoring. The indicators, and the underlying data behind them, are part of the current research and opinions that have reinforced the experiences and observations of reform-minded individuals in government, civil society, and the private sector, that good governance is key for development. Their growing recognition of the link between good governance and successful development, as empirical evidence suggests, has stimulated demand for monitoring the quality of governance across countries and within individual countries over time. Virtually all of the individual data sources underlying the aggregate indicators are, along with the aggregate indicators themselves, publicly available.

The Worldwide Governance Indicators are a compilation of the perceptions of a very diverse group of respondents, collected in large number of surveys and other cross-country assessments of governance. Some of these instruments capture the views of firms, individuals, and public officials in the countries being assessed. Others reflect the views of NGOs and aid donors with considerable experience in the countries being assessed, while others are based on the assessments of commercial risk-rating agencies.

A complementary vision of the macro-level Worldwide Governance Indicators are the World Bank Governance Surveys, which are country level governance assessment tools developed by the World Bank Institute.

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