Document Title: Governance and democracy, good governance reforms and good governance indicators plus their uses

Paper code: 13091

Governance and democracy, good governance reforms and good governance indicators plus their uses

Governance means that processes and institutions produce results that meet the needs of society while making the best use of resources at their disposal. Governance is the deliberate and conscious management of regime structures for enhancing the public realm. Governance can be viewed from social, political and economic perspectives. Indeed, good governance is pivotal to the development process. Development linked governance has been an issue much debated in the contemporary world. Therefore good governance means that processes and institutions produce results that meet the needs of society while making the best use of resources at their disposal. The concept of efficiency in the context of good governance also covers the sustainable use of natural resources and the protection of the environment.

Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom. Democracy is closely tied with economic sources of growth, like education levels and lifespan through improvement of educative institutions as well as healthcare. The relationship between the variables, governance and democracy is described as follows;