IDEAS home Printed from https://ideas.repec.org/a/hur/ijaraf/v6y2016i4p102-108.html

The 2008-2009 Global Crisis and Governance

Author

Listed:
  • Halil D. Kaya

Abstract

In this study, we examine the impact of the 2008-2009 Global Crisis on Governance. We focus on the 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”. We find that, due to the crisis, the world suffered in terms of “Voice and Accountability” and “Political Stability and Absence of Violence” scores. On the other hand, we are seeing that the governments around the world reacted fast and improved “Government Effectiveness”, “Regulatory Quality”, and “Rule of Law” after the crisis. This process continued through year 2011 and beyond. In terms of “Control of Corruption”, there have been ups and downs, but the overall trend is down, which indicates that the governments, on average, have not been willing to or effective in controlling corruption.

Suggested Citation

  • Halil D. Kaya, 2016. "The 2008-2009 Global Crisis and Governance," 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. 6(4), pages 102-108, October.
    • Handle: RePEc:hur:ijaraf:v:6:y:2016:i:4:p:102-108
    as

    Download full text from publisher

    File URL: http://hrmars.com/hrmars_papers/Article_10_Global_Crisis_and_Governance.pdf
    Download Restriction: no
    File URL: http://hrmars.com/hrmars_papers/Article_10_Global_Crisis_and_Governance.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. Stephan Haggard, 1999. "Governance and Growth: Lessons from the Asian Economic Crisis," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 13(2), pages 30-42, November.
    4. 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.
    5. John Shuhe Li, 2003. "Relation‐based versus Rule‐based Governance: an Explanation of the East Asian Miracle and Asian Crisis," Review of International Economics, Wiley Blackwell, vol. 11(4), pages 651-673, September.
    6. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. 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.
    2. KAYA Halil Dincer, 2018. "The Impact Of The Asian Crisis On Governance:Does Oecd Membership Or Income Levels Matter?," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 13(2), pages 115-130, August.
    3. KAYA Halil Dincer, 2018. "The Regional Impacts Of The Asian Crisis On Governance," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 13(1), pages 76-89, December.
    4. MacCarthaigh Muiris, 2017. "Reforming the Irish public service: A multiple streams perspective," Administration, Sciendo, vol. 65(2), pages 145-164, May.
    5. Ongaro, Edoardo & Ferré, Francesca & Fattore, Giovanni, 2015. "The fiscal crisis in the health sector: Patterns of cutback management across Europe," Health Policy, Elsevier, vol. 119(7), pages 954-963.
    6. Fazlija, Bledar & Ibraimi, Meriton & Forouzandeh, Aynaz & Fazlija, Arber, 2025. "Reasoning with financial regulatory texts via Large Language Models," Journal of Behavioral and Experimental Finance, Elsevier, vol. 47(C).
    7. Christopher Gandrud & Mark Hallerberg, 2015. "Does Banking Union Worsen the EU's Democratic Deficit? The Need for Greater Supervisory Data Transparency," Journal of Common Market Studies, Wiley Blackwell, vol. 53(4), pages 769-785, July.
    8. Xie, Dongshui & Bai, Caiquan & Zhang, Yuwei, 2023. "Relation-based governance, financial crisis shock, and economic growth in China," Economic Modelling, Elsevier, vol. 129(C).
    9. Ian Thynne, 2011. "Symposium Introduction: The Global Financial Crisis, Governance and Institutional Dynamics," Public Organization Review, Springer, vol. 11(1), pages 1-12, March.
    10. Poczter, Sharon, 2016. "The long-term effects of bank recapitalization: Evidence from Indonesia," Journal of Financial Intermediation, Elsevier, vol. 25(C), pages 131-153.
    11. Deval Desai & Michael Woolcock, 2012. "The politics of rule of law systems in developmental states: 'political settlements' as a basis for promoting effective justice institutions for marginalized groups," Global Development Institute Working Paper Series esid-008-12, GDI, The University of Manchester.
    12. Yunsoo Lee, 2021. "Averting the Fallouts of the Great Recession in Belgium and the Netherlands: a Research Note," Public Organization Review, Springer, vol. 21(3), pages 409-418, September.
    13. Monika Marcinkowska, 2013. "Regulation and self-regulation in banking: in search of optimum," Bank i Kredyt, Narodowy Bank Polski, vol. 44(2), pages 119-158.
    14. Charis Vlados & Nikolaos Deniozos & Demosthenes Chatzinikolaou, 2018. "Global Crisis, Innovation and Change Management: Towards a New Systemic Perception of the Current Globalization Restructuring," International Business Research, Canadian Center of Science and Education, vol. 11(8), pages 9-29, August.
    15. Thorsten Beck, 2013. "Finance, growth and fragility: the role of government," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 5(1/2), pages 49-77.
    16. Byung S. Min, 2018. "Effects of Outsider’s Monitoring on Capital Structure and Corporate Growth Strategy: Evidence from a Natural Experiment," Journal of Business Ethics, Springer, vol. 152(2), pages 459-475, October.
    17. repec:ehl:wpaper:27872 is not listed on IDEAS
    18. Belloc, Marianna, 2005. "Cross-Cultural Trade and Internal Institutional Stability," Department of Economics, Working Paper Series qt1wj7v0sn, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    19. Murray, Cameron K. & Frijters, Paul & Vorster, Melissa, 2017. "The back-scratching game," Journal of Economic Behavior & Organization, Elsevier, vol. 142(C), pages 494-508.
    20. Tongwei Qiu & Biliang Luo & Qinying He, 2020. "Does Land Rent between Acquaintances Deviate from the Reference Point? Evidence from Rural China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 28(3), pages 29-50, May.
    21. Marta Božina Beroš & Marin Beroš, 2013. "Fairness through regulation? Reflections on a cosmopolitan approach to global finance," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 7(1), November.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hur:ijaraf:v:6:y:2016:i:4:p:102-108. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hassan Danial Aslam (email available below). General contact details of provider: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.