Economic Governance in a Globalized World

The process of governing, controlling, or managing a country, including how power is exercised and the methods for making and enforcing decisions.

The set of rules, institutions, and mechanisms that shape a country's economic activity, including how property rights are protected and how economic actors interact.

A stimulating factor for growth refers to anything that encourages economic development, like good governance or sound economic policies.

The World Bank's Governance Indicators measure the quality of governance in different countries based on factors like corruption, government effectiveness, and regulatory quality.

The Competitiveness Index measures a country's ability to be competitive in the global market based on factors like innovation, infrastructure, and business environment.

The Transparency Index measures how transparent a country is in its public sector and how accessible information is to citizens.

The process of analyzing the functioning of a country's institutions and their effectiveness in supporting economic activity.

Specific tools used to measure the quality of governance in different countries, including the World Bank Governance Indicators, the Competitiveness Index, and the Transparency Index.

A measure of how transparent a country is, based on perceptions of corruption among government officials and politicians.

An analysis of how businesses perceive the risks of paying bribes in various countries.

The ability of economic and non-economic groups to participate in shaping and evaluating policies, including their implementation.

The extent to which different policies within a government work together effectively to achieve long-term sustainable goals.

The ability of governments to adapt their policies and actions based on changing circumstances and new information.

The quality and effectiveness of institutions responsible for governing a country, especially regarding their democratic nature.

The level of absorption of technologies used to evaluate economic governance. It includes factors like infrastructure, financial markets, macroeconomic framework, education, and market efficiency.

A category of indicators used to assess a country's competitiveness, focusing on institutions, both public and private. It accounts for 25% of the total indicators.

Part of the Institutions Pillar, focusing on government functions, including property rights, excessive influence, and government effectiveness.

Part of the Institutions Pillar, focusing on private sector behavior, including ethical conduct, auditing practices, and investor protection.

An indicator within the 'Excessive Influence' category (part of Public Institutions), referring to the ability of the judiciary to operate independently of political pressure.

An indicator within the 'Property Rights' category (part of Public Institutions), referring to the protection of intellectual property, such as patents, trademarks, and copyrights.

An organization founded in 1993 to reduce corruption around the world. Its primary measure is the Corruption Perception Index.

A measure created by Transparency International to gauge perceived levels of corruption in various countries.

The ability of a state to effectively plan, enact, and carry out policies throughout its entire territory.

The degree to which a state can assess and adapt its institutional arrangements, like laws and regulations, in response to changing needs and circumstances.

The quality of a country's governance based on factors like free elections, freedom of the press, rule of law and protection of civil rights.

The ability of states to effectively implement and enforce policies to achieve sustainable development goals.

A direct link has been demonstrated between the quality of public administration and overall economic growth.

The ability of a state to monitor its own actions and adapt its policies based on new information and feedback.

The influence of strategic planning units and regulatory impact assessments in shaping government policies.

The process by which a country's government makes decisions and exercises power while ensuring accountability, responsiveness, and effectiveness.

Openness and transparency in government actions are crucial for achieving sustainable development.

When citizens and the private sector have access to information, they can better participate in policymaking and hold governments accountable.

Transparency in how governments operate signals trust to citizens and investors. It can lead to greater investment and economic growth.

Transparency in budget processes, spending, and procurement can improve service delivery to citizens.

Transparency is also a fundamental human right, as citizens have a right to know how public resources are being used.

Many citizens around the world want their governments to be more open and transparent.

Openness and transparency are essential for good governance, as they promote accountability, public trust, and effective service delivery.

Various international agreements recognize the importance of openness and transparency in governance.

Corruption is a major obstacle to sustainable development, particularly affecting poor and marginalized communities. It undermines health and education outcomes, equity, the rule of law, and foreign investment.

Illicit financial flows represent money illegally transferred across borders, often through shell companies and tax havens. This siphons resources from developing countries, impacting their economic growth and development.

Anti-corruption measures and transparency initiatives are linked to positive development outcomes. These initiatives increase accountability, enhance governance, and improve the effectiveness of public resources.

Economic resilience describes a country's ability to withstand economic shocks and bounce back quickly. Good governance is a key factor in achieving this resilience.

A strong, innovative, and diverse business sector serves as a foundation for a resilient economy, contributing to economic diversification and job creation.

Investing in talent and skills development fosters a resilient economy. This includes training programs, education initiatives, and policies that promote workforce participation.

The characteristics of a place, including its natural resources, infrastructure, and location, can influence its economic resilience. These factors contribute to a region's attractiveness for investment and economic activity.

A strong sense of community and collective action are crucial for economic resilience. It fosters social cohesion and encourages collaboration to overcome challenges.