DOES GOOD GOVERNANCE MATTER? KAZAKHSTAN’S ECONOMIC GROWTH AND WORLDWIDE GOVERNANCE INDICATORS

Good governance is generally believed to improve country’s economic performance. This paper stud ies the relationship between the World Bank’s Worldwide Governance Indicators (Voice and Ac countability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quali ty, Rule of Law, Control of Corruption) and economic growth in terms of GDP per capita in Kazakh stan. The findings of the research indicate that there is a significant positive relationship between good governance and economic performance of Kazakhstan. Specifically, results show that the Con trol of Corruption has the strongest impact on GDP per capita.