Project Name: Does Governance Matter?
Team no: 12
Members: Kinjal Sengupta (430/15), Shobhit Bhatnagar (455/15), Nishank Gosain (437/15), Prashant Agarwal (441/15)
Problem Statement: Try and find the relationship between governance and 6 factors generally related to it, and find out what is the correlation between them. The 6 factors are:
1. Voice and Accountability
2. Political Stability and Absence of Violence
3. Government Effectiveness
4. Regulatory Quality
5. Rule of Law
6. Control of Corruption
Data Source: The Worldwide Governance Indicators (WGI) project report: Aggregate and individual governance indicators for 212 countries and territories over the period 1996–2007
Benefits: The growing recognition of the link between good governance and successful development has stimulated demand for monitoring the quality of governance across countries. The project can help us understand what makes government work, what the key factors for its effectiveness are and which factors are not as important as they are generally deemed to be. These indicators can also be used by countries to benchmark themselves against others.
Expected Outcomes: Though the dependence looks pretty direct, we wish to find the exact correlation between these factors and good governance. Secondly we also wish to see, are there any factors which do not affect governance or affect it in a way opposite to what is perceived. Through this we also look forward to identify any outliers i.e. any countries doing poorly on the indices but still having good governance or vice versa
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