In our Chapter on State versus Market, we have examined the role of the government in economic development. As you would recall, there are two views—one is the Washington Consensus, which essentially calls for a limited role of the government; the other is the Industrial policy view, which maintains that the government should play a very active role in promoting development. There is still another view that maintains that it is not the quantity of government that matters; what is important is the quality of government—i.e., governanceQuestions: (500 words) Review the attached paper and select five important messages and elaborate them in your own words.(600 words) a. Choose a country—preferably a developing country—to review its governance performance in various indicators over time. Consult the data below: (http://info.worldbank.org/governance/wgi/index.aspx#reports)Find out which country group your country ( Saudi Arabia ) belongs to according to the World Bank Classification—high income, upper-middle, lower-middle or low: http://data.worldbank.org/about/country-and-lending-groups Now compare the governance performance of your country in relation to the average governance performance of your country group. C. Your recommendation to improve the governance situation of the country.mgq-governance-Edward-Elgar.pdf ( this resources may help Topics: Market and market failures; market pessimists and market optimists; market reform: stabilization and structural adjustment; and the Washington Consensus and post-Washington ConsensusPRL: Chapters 4 and 5Additional Course Materials:International Encyclopedia of the Social Sciences (2008). Washington Consensus.Video: Tyles Cowen: Industrial Policy: Theory; South Korea and Industrial Policy.)) this is EXAM ((((((( 0 plagiarism )))).