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Role of Good Governance in Development

Role of Good Governance in Development: Good governance in developing countries has become a subject of rich debate. A newly updated set of indicators by researchers at the World Bank is recognized as the most effective tool to assess governance in different countries.

 

Role of Good Governance in Development

Indicators of Good Governance.

The indicators include – 

  • voice and accountability;
  • political stability and absence of violence;
  • government effectiveness;
  • regulation quality;
  • rule of law;
  • and control of corruption.

These indicators of good governance are all interrelated and as the effectiveness of one depends upon the other, a problem in any of the indicators will eventually compromise the effectiveness of other indicators. The lack of good governance issues in Bangladesh has contributed significantly to the lack of business ethics and the issue of corporate social responsibility that has emerged.

 

Good Governance

 

The civil society organizations and the private sector can help the government in promoting good governance by monitoring the state’s exercise of power and broadening citizens’ participation in public policymaking. The civil society organizations can also force the government to be transparent and accountable by publicizing the acts of wrongdoing, corruption, and violation of the law and can also advocate for the poor farmers who are being cheated.

On the supply side, civil society can share much of the role of the state in providing training to the private sector and farmers about business ethics and creating awareness among them. Although the importance of governance in promoting the development and alleviating poverty is universally accepted, measuring the quality of governance until recently was an elusive challenge. A new set of indicators covering almost 200 countries from the period 1996-2002 has been recognized as the most effective measurement tool across the world.

 

These indicators focus on six dimensions which include – 

  1. Voice and Accountability
  2. Political Stability and Absence of Violence
  3. Government Effectiveness
  4. Regulatory Quality
  5. Rule of Law and
  6. Control of corruption.

 

The importance of integrated governance has become even 2 more important as indicators of good governance have made it very clear that good governance is not only the domain of the public sector. Rather, it depends on the relationship and cooperation between different spheres of governance is. public, private and civil society.

 

Good Governance

Role of Good Governance in Development

 

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About Mohammed Ahaduzzaman

Mr. Zaman is a Founder and Freelance Writer @ BBALectures Blog! Blogging is his passion. He loves writing on Entrepreneurship, Finances, Accounting, HR and Business Issues. By profession, He serving as Accounting Professional at Zaman Accounting.

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