Good governance and successful development: Cross countries investigation

This study examines the role of good governance in successful development. Authors used the comparable per head GDP measured in purchasing power parity as a proxy for successful economic development. Four out of total six indicators were related to good governance and two were social environmental factors, as necessary for “PESTLE or Political, Economic, Social, Technological, Legislative or Legal, and Eco-environmental analysis”. The four indicators of good governance were political stability, control of corruption, rule of law, and voice and accountability. The social indicators were country’s openness and size of population. The total six indicators were examined with the GDP per head to see whether these factors can help countries achieve higher levels of income per head. The authors conclude that there is a connection between development success and these six variables.