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Estimating the Quality of Economic Governance: A Cross-Country Analysis

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  • Sudip Ranjan Basu

    (Graduate Institute of International Studies HEI , Geneva)

Abstract

This paper proposes a methodology to combine different dimensions of economic governance into a combined index. The quality of economic governance index (QEGI) is estimated as the weighted average of principal components of the standardised economic governance indicators, where weights are variances of successive principal components. The paper reports the QEGI for 71 developing and transition economies in 1998-2000. The evidence from a simple scatter diagram and a cross country regression analysis indicates that the better economic governance positively affects the economic performance (e.g., rise in per capita income, decline in poverty level, etc.) for sample of countries in our analysis.

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Bibliographic Info

Paper provided by EconWPA in its series Econometrics with number 0509012.

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Length: 31 pages
Date of creation: 08 Sep 2005
Date of revision:
Handle: RePEc:wpa:wuwpem:0509012

Note: Type of Document - pdf; pages: 31. pdf format
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Web page: http://128.118.178.162

Related research

Keywords: Economic governance; Economic performance; Cross-country analysis; principal component.;

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References

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  1. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Aggregating governance indicators," Policy Research Working Paper Series 2195, The World Bank.
  2. Kaufmann, Daniel & Kraay, Aart, 2002. "Growth without governance," Policy Research Working Paper Series 2928, The World Bank.
  3. Sen, Amartya, 1988. "The concept of development," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 1, pages 9-26 Elsevier.
  4. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross-Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
  5. William Easterly, 2002. "The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550423, December.
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Cited by:
  1. Li, Kui-Wai & Zhou, Xianbo, 2008. "The Commutative Effect and Casuality of Openness and Indigenous Factors Among World Economies," MPRA Paper 35298, University Library of Munich, Germany.
  2. Sudip Ranjan Basu, 2005. "The Determinants of Economic Well-being:An Application in the Indian States," Development and Comp Systems 0509009, EconWPA.
  3. Zhou, X. & Li, Kui-Wai, 2010. "Causality between Openness and Indigenous Factors among World Economies," MPRA Paper 36421, University Library of Munich, Germany.

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