Chapter 1: | Introduction |
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Kaufmann observes that while the indicators represent a big step forward, there are measurement challenges.23 He points out that margins of error should not be treated as trivial and that caution in interpreting the results is warranted—one should not precisely rank countries.24 Kaufmann acknowledges, however, that these margins of error have declined and are now substantially lower than for any individual measure of corruption, governance or the investment climate.25 As a result, the World Bank’s governance indicators are used worldwide for monitoring performance, for country assessments and for research.26
Kaufmann points out that the remaining eight myths about corruption and governance include the following: