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A Proper Measurement of the Countries’ Governance Climate with an Overall Composite Index

Francesco Scalamonti

Global Journal of Emerging Market Economies2025https://doi.org/10.1177/09749101251372560article
AJG 1
Weight
0.44

What the paper says

This article validates a composite governance indicator for MEDA countries by comparing it with alternative methods for reconstructing indices. Building on the World Bank’s Worldwide Governance Indicators (WGIs), we benchmark our overall index against those obtained through principal component analysis (PCA), as well as the Mazziotta–Pareto Index (MPI) and the weighted MPI (WMPI). Covering 2010–2023—a period marked by two important shocks, the “Arab Springs” and the global pandemic, the analysis shows that PCA closely mirrors governance conditions, while MPI and WMPI are less effective. On the other hand, our composite index is SMART—Specific, Measurable, Achievable, Reliable, and Time-bound. It is easy to calculate and implement, theoretically correct, preserves cross-country governance trends, captures all three governance sub-dimensions, and adequately incorporates the six basic indicators. JEL Classification C18, C43, O10, P47

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https://doi.org/https://doi.org/10.1177/09749101251372560

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@article{francesco2025,
  title        = {{A Proper Measurement of the Countries’ Governance Climate with an Overall Composite Index}},
  author       = {Francesco Scalamonti},
  journal      = {Global Journal of Emerging Market Economies},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1177/09749101251372560},
}

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A Proper Measurement of the Countries’ Governance Climate with an Overall Composite Index

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Evidence weight

0.44

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.32 × 0.4 = 0.13
M · momentum0.57 × 0.15 = 0.09
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.