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The Regional Impacts Of The 2008-2009 Global Crisis On Governance





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”.

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  • Halil Dincer Kaya, 2017. "The Regional Impacts Of The 2008-2009 Global Crisis On Governance," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 80-90, April.
  • Handle: RePEc:cbu:jrnlec:y:2017:v:2:p:80-90

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    References listed on IDEAS

    1. B. Peters & Jon Pierre & Tiina Randma-Liiv, 2011. "Global Financial Crisis, Public Administration and Governance: Do New Problems Require New Solutions?," Public Organization Review, Springer, vol. 11(1), pages 13-27, March.
    2. Ross Levine, 2012. "The Governance of Financial Regulation: Reform Lessons from the Recent Crisis," International Review of Finance, International Review of Finance Ltd., vol. 12(1), pages 39-56, March.
    3. Walter Kickert, 2012. "State Responses to the Fiscal Crisis in Britain, Germany and the Netherlands," Public Management Review, Taylor & Francis Journals, vol. 14(3), pages 299-309, March.
    4. Asayehgn Desta, 2012. "Good Growth and Governance in Africa: Implementing Rather than Re-thinking Development Strategies," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(2), pages 69-75, April.
    5. Stephan Haggard, 1999. "Governance and Growth: Lessons from the Asian Economic Crisis," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 13(2), pages 30-42, November.
    6. Walter Kickert, 2012. "State responses to the fiscal crisis: Belgium," Public Money & Management, Taylor & Francis Journals, vol. 32(4), pages 303-310, July.
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    governance; wgi; economic crisis; region;


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