Acta Universitatis Danubius. Administratio, Vol 10, No 2 (2018)

The Quest for Economic Development and the Impacts of Good Governance in Africa

Andrew Osehi Enaifoghe, Tafadzwa C Maramura

Abstract


A poor administration of governance is one of the dynamic reasons for states under-development in Africa. This prompt the discourse on economic development, with the possibility that economic development needs sound administration to flourish, while good government policy promotes economic development. Nevertheless, the nature of administration and institution of development strategies, impacts on economic execution which directly leads to development. As indicated by the World Bank, good governance is assessed by the usage capacity of administration principles of a nation, giving a structure to both market development and economic enhancement. Few econometric investigations have been conducted on the connection between good governance and this demonstrates a positive link for good administration and economic development. This study focuses on the concept of ‘good governance’ which delivers the subjective capacity of administration that shows the potent, effective, participative, and independent type of governance. These factors are responsible for the transparent and accountable management of social, natural, fiscal and economic resources for justifiable and sustainable development. Researchers articulate that states must have the ability to ‘drive basic change in institutional, political, economic and social arenas,’ with the aim to guarantee long-term financial, economic and political development in a nation. We discuss the concept of good governance as regards to African states while taking into account the level of development and governance capacity that depends on a structure, and the dispersion of political power that develops with time and could conceivably be certain for development. This study hopes that good management strategies must be pertinent if nations wish to achieve a sound level of economic, financial and socio-political development that empower states of good governance to support development. This study adopted a qualitative analysis by utilizing time-tested principles of good governance theory.


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