This research aimed to investigate heterogeneity regarding governance, agricultural productivity, and food security between developed and developing nations. Utilizing a three-stage least squares (3SLS) simultaneous equation model, this study found that governance could positively impact food security through capital accumulation and agricultural productivity in both developed and developing countries. However, the magnitude of these effects differed significantly between country groups, with developed countries showing stronger governance-food security linkages than developing countries. This study reaffirms the importance of governance while showcasing its potential to vary based on a country’s economic level. Additionally, it sheds comprehensive light on impacts of agricultural production and agricultural capital accumulation on food security.