Stay at Home! Governance Quality and Effectiveness of Lockdown

Governance Indicators ◽

Regulatory Quality ◽

Governance Quality ◽

World Governance Indicators ◽

Set Up ◽

First Time

AbstractIn order to control the spread of the COVID-19 pandemic, during the first wave of the pandemic numerous countries decided to adopt lockdown policies. It had been a considerable time since such measures were last introduced, and the first time that they were implemented on such a global scale in a contemporary, information intensive society. The effectiveness of such measures may depend on how citizens perceive the capacity of government to set up and implement sound policies. Indeed, lockdown and confinement policies in general are binding measures that people are not used to, and which raise serious concerns among the population. For this reason governance quality could affect the perception of the benefits related to the government’s choice to impose lockdown, making citizens more inclined to accept it and restrict their movements. In the present paper we empirically investigate the relation between the efficacy of lockdown and governance quality (measured through World Governance Indicators). Our results suggest that countries with higher levels of government effectiveness, rule of law and regulatory quality reach better results in adopting lockdown measures.

Institutional Quality and Sukuk Development: A Study of Five OIC Countries

Shirkah Journal of Economics and Business ◽

10.22515/shirkah.v5i3.335 ◽

2020 ◽

Vol 5 (3) ◽

pp. 286

Author(s):

Nuhbatul Basyariah ◽

Hadri Kusuma ◽

Ibnu Qizam

Keyword(s):

United Arab Emirates ◽

Rule Of Law ◽

Institutional Quality ◽

Three Dimensions ◽

Method Of Moment ◽

Governance Indicators ◽

Regulatory Quality ◽

Panel Data Regression ◽

Data Regression

The objective of this study is to shed some light on the effect of institutional quality on the development of the global sukuk market. Specifically, this study examines the impacts of the institutional quality that adopts three dimensions of the Worldwide Governance Indicators (WGI), i.e., Rule of Law (RL), Regulatory Quality (RQ), and Government effectiveness (GE) on the global sukuk development of the top-five countries of sukuk issuance, i.e., Malaysia, Kingdom of Saudi Arabia, United Arab Emirates, Indonesia, and Bahrain. Drawing on a quantitative study with the data in the forms of global sukuk issuance from 2002 to 2017, panel-data regression (OLS) and General Method of Moment (GMM) were applied. This study showed that RL and GE have a significantly positive effect on sukuk issuance; however, RQ did not influence the development of the global sukuk market. These results imply that a country that is capable to maintain the institutional quality, especially in terms of rule of law and government effectiveness, will most likely be the country that can successfully develop the sukuk market. These results play a crucial role in filling a research gap among previous studies and provide an empirical evidence of the government’s role and its influence on the sukuk development.

Are performances in Governance Indicators Complementary to Corruption Abatement?

International Journal of Research in Business and Social Science (2147-4478) ◽

10.20525/ijrbs.v4i3.18 ◽

2015 ◽

Vol 4 (3) ◽

pp. 1-10

Author(s):

Kamal Ray ◽

Ramesh Das

Keyword(s):

World Bank ◽

Rule Of Law ◽

Global Economy ◽

Causal Link ◽

Causality Test ◽

Governance Indicators ◽

Regulatory Quality ◽

Corruption Perception ◽

Private use of public office for private gain could be a tentative connotation of corruption and most distasteful event of corruption is that it is not there, nor that it is pervasive, but it is socially acknowledged in the global economy, especially in the developing nations. In the present paper we attempt to assess the interrelationship between the Corruption perception index (CPI) and the principal components of governance indicators as per World Bank Governance Indicators like Control of Corruption (CC), Rule of Law (RL), Regulatory Quality (RQ) and Government Effectiveness (GE). Applying Granger Causality Test the study observes a mixed or inconclusive result. Only bilateral causal link between the CPI and CC works for UK, whereas there are unilateral causal links between the CPI and one or more governance indicators working for other countries for France, Japan, China, India, Thailand and South Africa. In no way causalities are observed for USA, Germany and Brazil.

Mediating role of trust in the relationship between public governance quality and tax compliance

Bussecon Review of Social Sciences (2687-2285) ◽

10.36096/brss.v3i4.276 ◽

2022 ◽

Vol 3 (4) ◽

pp. 11-22

Author(s):

Yusuf Mohammed Alkali ◽

Abdulsalam Masud ◽

Almustapha A. Aliyu

Keyword(s):

Rule Of Law ◽

Tax Compliance ◽

Political Stability ◽

African Countries ◽

Public Governance ◽

Regulatory Quality ◽

Governance Quality ◽

This paper examined the mediating role of trust in government on the influence of public governance quality indicators (accountability, political stability, government effectiveness, regulatory quality, rule of law, and control of corruption) on tax compliance in Africa. Cross-country data obtained from 38 African countries for 2015 was used and analyzed using Ordinary Least Squares (OLS) regression analysis. The study found that accountability, political stability, control of corruption, and trust have a significant influence on tax compliance among the sampled African countries, but government effectiveness, regulatory quality, and the rule of law and have insignificant influence on tax compliance. The result of the mediating effects revealed that trust mediates the influence of accountability and political stability on tax compliance in Africa. However, it failed to mediate the influence of government effectiveness, regulatory quality, rule of law, and control of corruption on tax compliance among sample African countries. The study offers theoretical insights on the role of trust as a mediator on social exchange relationships from the context of public governance quality on tax compliance. It also implies to the policymakers that building trust is an important mechanism through which the impact of public governance on tax compliance would be more pronounced. The study further calls for replication of its findings in other continents such as the Americas, Asia, and Europe.

Applying Synthetic Control Method to Estimate the Impact of the Lava Jato Operation on the Worldwide Governance Indicators in Brazil

Journal of White Collar and Corporate Crime ◽

10.1177/2631309x211017874 ◽

2021 ◽

pp. 2631309X2110178

Author(s):

Eduardo Carvalho Nepomuceno Alencar ◽

Bryant Jackson-Green

Keyword(s):

Rule Of Law ◽

Control Method ◽

Synthetic Control ◽

Synthetic Control Method ◽

The Rule Of Law ◽

Governance Indicators ◽

Regulatory Quality ◽

Legal Judgments ◽

The Impact ◽

In 2014, the most prominent anti-corruption investigation in Latin America called Lava Jato, exposed a Brazilian corruption scheme with reverberations in 61 countries, resulting in legal judgments for nearly 5 billion USD in reimbursements thus far. This article applies the synthetic control method on data from 135 countries (2002–2018) to test the hypothesis that Lava Jato impacts the Worldwide Governance Indicators in Brazil. The findings reveal that Lava Jato negatively affects control of corruption, the rule of law, and regulatory quality. There are signs of possible improvement in at least the corruption and the rule of law measures. This paper brings value to the criminological body of literature, notably lacking in the Global South.

Hypothesizing directional causality between the governance indicators and economic growth: the case of Afghanistan

Future Business Journal ◽

10.1186/s43093-020-00039-4 ◽

2020 ◽

Vol 6 (1) ◽

Author(s):

Mohammad Naim Azimi ◽

Mohammad Musa Shafiq

Keyword(s):

Economic Growth ◽

Rule Of Law ◽

Time Series Data ◽

Political Stability ◽

Wald Test ◽

Series Data ◽

Vector Autoregressive ◽

Governance Indicators ◽

The Government

AbstractThis paper examines the causal relationship between governance indicators and economic growth in Afghanistan. We use a set of quarterly time series data from 2003Q1 to 2018Q4 to test our hypothesis. Following Toda and Yamamoto’s (J Econom 66(1–2):225–250, 1995. 10.1016/0304-4076(94)01616-8) vector autoregressive model and the modified Wald test, our empirical results show a unidirectional causality between the government effectiveness, rule of law, and the economic growth. Our findings exhibit significant causal relationships running from economic growth to the eradication of corruption, the establishment of the rule of law, quality of regulatory measures, government effectiveness, and political stability. More interestingly, we support the significant multidimensional causality hypothesis among the governance indicators. Overall, our findings not only reveal causality between economic growth and governance indicators, but they also show interdependencies among the governance indicators.

Does Higher Religiosity Translate into Higher Institutional Quality? Evidence From 98 Countries

SAGE Open ◽

10.1177/2158244019865804 ◽

2019 ◽

Vol 9 (3) ◽

pp. 215824401986580

Author(s):

Ayse Y. Evrensel ◽

Itai Sened

Keyword(s):

Rule Of Law ◽

Institutional Quality ◽

World Values Survey ◽

The Rule Of Law ◽

Country Level ◽

Regulatory Quality ◽

Moral Standards ◽

Corrupt Behavior ◽

Government Benefits

This article examines whether individuals’ higher moral values stemming from higher religiosity lead to higher institutional quality at the country level. Based on the data from World Values Survey (WVS, 1980-2014) with 343,440 respondents, the results indicate that higher religiosity is associated with lower justifiability of corrupt behavior such as cheating on taxes, receiving false government benefits, and taking bribes. However, at the level of 98 countries from which the respondents in the WVS stem, higher religiosity seems to have an adverse effect on institutional quality as measured in corruption control, executive constraints, government effectiveness, regulatory quality, and the rule of law. Therefore, higher religiosity and moral standards at the respondent level may not translate into higher institutional quality at the country level. We discuss possible reasons for this discrepancy.

Corruption, governance and economic growth in Sub-Saharan Africa: a need for the prioritisation of reform policies

Social Responsibility Journal ◽

10.1108/srj-06-2012-0067 ◽

2014 ◽

Vol 10 (2) ◽

pp. 316-330 ◽

Cited By ~ 7

Author(s):

Kamil Omoteso ◽

Hakeem Ishola Mobolaji

Keyword(s):

Economic Growth ◽

Rule Of Law ◽

Political Stability ◽

Content Type ◽

Governance Indicators ◽

Data Framework ◽

Regulatory Quality ◽

The Impact ◽

Control Of Corruption ◽

Ssa Countries

Purpose – This study aims to investigate the impact of governance indices (especially control of corruption) on economic growth in some selected Sub-Sahara African (SSA) countries with a view to making policy recommendations. Specifically, the study attempts to assess whether either governance reforms (especially those relating to control of corruption) or simultaneous policy reforms could have any impact on the growth of the sample SSA countries. Design/methodology/approach – The governance indicators used in this study were drawn from the PRS Group and the Worldwide Governance Indicators for 2002-2009, while the real gross domestic product (GDP) per capita growth data were obtained from the World Bank database. The study covered 47 SSA countries, and it adopted the panel data framework, the fixed effect, the random effect and the maximum likelihood estimation techniques for the analyses. Findings – The study found that political stability and regulatory quality indicators have growth-enhancing features, as they impact on economic growth in the region significantly, while government effectiveness impacts negatively on economic growth in the region. Despite, several anti-corruption policies in the region, the impact of corruption control on economic growth is not very obvious. The study also found that simultaneous implementation of the voice and accountability and the rule of law indicators has more positive impact on economic growth in the region. Both policies are complementary, and, hence, can be pursued simultaneously. Research limitations/implications – The results suggest that reform efforts that aim at enhancing accountability, regulatory quality, political stability and the rule of law have more growth-enhancing features and, thus, should be given more priority over reform efforts that singly address the issue of control of corruption due to the endemic, systemic and ubiquitous nature of corruption in the region. Practical implications – The study suggests that reform efforts that aim at enhancing accountability, regulatory quality and rule of law have more growth-enhancing features and, therefore, should be given more priority. Originality/value – Many previous studies attempted to examine the impact of corruption on economies, but this paper tries to assess the effect of corruption control and other governance indices on economic growth in the most vulnerable region of the world, the SSA. Besides, the study adopts the panel data framework which makes it possible to allow for differences in the form of unobservable individual country effects.

Australia's Bond Home Bias

Review of Pacific Basin Financial Markets and Policies ◽

10.1142/s0219091514500015 ◽

2014 ◽

Vol 17 (01) ◽

pp. 1450001

Author(s):

Anil V. Mishra ◽

Umaru B. Conteh

Keyword(s):

Rule Of Law ◽

Exchange Rate Volatility ◽

Home Bias ◽

Accounting Standards ◽

Bond Markets ◽

Cross Border ◽

Regulatory Quality ◽

System Risk

This paper constructs the float adjusted measure of home bias and explores the determinants of bond home bias by employing the International Monetary Fund's high quality dataset (2001 to 2009) on cross-border bond investment. The paper finds that Australian investors' prefer investing in countries with higher economic development and more developed bond markets. Exchange rate volatility appears to be an impediment for cross-border bond investment. Investors prefer investing in countries with stronger quality of institutions including bureaucratic quality, government effectiveness, regulatory quality, rule of law, efficiency of judicial system, risk of contract repudiation, and rating of accounting standards.

Institutional Analysis of Shadow Economy (Study on ASEAN 7 Developing Countries)

Ekuilibrium Jurnal Ilmiah Bidang Ilmu Ekonomi ◽

10.24269/ekuilibrium.v15i1.2373 ◽

2020 ◽

Vol 15 (1) ◽

pp. 55

Author(s):

Ana Rahmawati Wibowo ◽

Wiwin Indrayanti

Keyword(s):

Developing Countries ◽

Rule Of Law ◽

Shadow Economy ◽

Secondary Data ◽

Political Stability ◽

Regulatory Quality ◽

Negative Effect ◽

And Control ◽

This study aims to analyze the institutional variables of governance in ASEAN 7 developing countries. The independent variables consist of Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption, while shadow economy is dependent variable. The data used in this study are quantitative data and secondary data by using program Stata 14, the analysis technique used is multiple linear regression panel data. The results show that Voice and accountability has a negative and significant effect on the shadow economy as well as Political stability, Government effectiveness and Control of corruption on the other side. Regulatory quality has a positive and significant effect on the amount of shadow economy. Meanwhile, Rule of law no significant effect on the shadow economy. Underlying the results, the study arranges some policy to reduce negative effect of shadow economy.

Rule of Law, Corruption Control, Governance, and Economic Growth in Managing Renewable and Nonrenewable Energy Consumption in South Asia

International Journal of Environmental Research and Public Health ◽

10.3390/ijerph182010637 ◽

2021 ◽

Vol 18 (20) ◽

pp. 10637

Author(s):

Haider Mahmood ◽

Muhammad Tanveer ◽

Maham Furqan

Keyword(s):

Economic Growth ◽

Renewable Energy ◽

Energy Consumption ◽

Rule Of Law ◽

Political Stability ◽

Energy Sources ◽

The Rule Of Law ◽

Governance Indicators ◽

Regulatory Quality ◽

Nonrenewable Energy

Strong governance is vital for developing environmental policies to promote renewable energy consumption and discourage nonrenewable energy sources. The present research explores the effect of economic growth and different governance indicators on renewable and nonrenewable energy consumption in Pakistan, India, Bangladesh, and Sri Lanka using data from 1996 to 2019. For this purpose, the study uses different econometric techniques to find the long-term effects of the rule of law, regulatory quality, corruption control, government effectiveness, political stability, voice and accountability, and economic growth on oil, natural gas, coal, hydroelectricity, and renewable energy consumption. The results show that economic growth has a positive impact on all investigated renewable and nonrenewable energy sources. Additionally, regulatory quality measures also increase all types of renewable and nonrenewable energy consumption. Except for natural gas, the impact of the rule of law is negative, and government effectiveness positively affects all energy sources. Control of corruption has a positive effect on natural gas consumption. Political stability has a negative effect on nonrenewable energy sources and a positive impact on renewable energy sources. The magnitudes of the effects of economic growth and most governance indicators are found to be larger on nonrenewable sources than renewable sources. The testing of the energy consumption and governance nexus is scant in global literature and is missing in South Asian literature. Hence, the study results contribute to how South Asian economies can be more sustainable in energy use by enhancing governance indicators in the economies. Particularly, the results imply that these countries should focus on improving the rule of law, corruption control, governance, regulatory quality, political stability, and economic growth to help maintain a sustainable balance of renewable and nonrenewable energy sources. Moreover, this issue needs further attention in developing countries, as governance indicators would play an effective role in promoting sustainable energy.