Governance refers to the manner in which power is exercised in the management of a country's economic and social resources and Good governance requires checks and balances in a country's institutional infrastructure, such that politicians and bureaucrats have the flexibility to pursue the common good, while restraining arbitrary actions and corruption. It is well known that good governance required strong institutions that perform effectively and efficiently and strong institutions required sound policies and well plan of ...
Read More
Governance refers to the manner in which power is exercised in the management of a country's economic and social resources and Good governance requires checks and balances in a country's institutional infrastructure, such that politicians and bureaucrats have the flexibility to pursue the common good, while restraining arbitrary actions and corruption. It is well known that good governance required strong institutions that perform effectively and efficiently and strong institutions required sound policies and well plan of investment in public sector, to improve allocation of resources, relative advantage, and productivity and create more opportunities for productive markets and classify the advantages of growth more equitably in the economy of any country. The major purpose of the public sector institutions can be divided largely into three classes which are, making of an efficient policy, delivery of services, supervision and accountability. Among these, accountability has become one of the most important element of good governance. Countries where institutions are having strong accountability mechanism for audit, are the best example of good governance.
Read Less
