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3. Rule of Law: Percentile Rank, Upper Bound of 90% Confidence Interval

Rule of Law: Percentile Rank, Upper Bound of 90% Confidence Interval

Good governance is essential for development. It helps countries improve economic growth, build human capital, and strengthen social cohesion. Empirical evidence shows a strong causal relationship between better governance and better development outcomes. The Worldwide Governance Indicators (WGI) are designed to help researchers and analysts assess broad patterns in perceptions of governance across countries and over time. The WGI cover over 200 countries and territories, measuring six dimensions of governance starting in 1996: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption. The aggregate indicators are based on several hundred individual underlying variables, taken from a wide variety of existing data sources. The data reflect the views on governance of survey respondents and public, private, and NGO sector experts worldwide

Rule of Law captures perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence.

Percentile rank indicates the country's rank among all countries covered by the aggregate indicator, with 0 corresponding to lowest rank, and 100 to highest rank. Percentile ranks have been adjusted to correct for changes over time in the composition of the countries covered by the WGI.

Percentile Rank Upper refers to upper bound of 90 percent confidence interval for governance, expressed in percentile rank terms.