Governance, economics and the prosperous society

George Kararach ()

Chapter 15 in Liberating Economics From Ideologies and Dystopia, 2025, pp 194-202 from Edward Elgar Publishing

Abstract: The role of governance and government in promoting economic development remains a contentious and ideologically charged debate. We adopt a heterodox approach and focus on three key policy reforms that have dominated governance and economic development in recent decades: regulatory reform, privatisation and decentralisation. Moving beyond a neoliberal agenda is critical, as modern issues like poverty and inequality cannot be eradicated without a radical approach to governance and the economy. Eradicating poverty requires high, sustained growth that generates productive jobs and benefits across society, including through boosting productivity and rebalancing economies towards more productive sectors. Structural transformation is key to tackling poverty and economic stagnation, but it can also have disruptive effects on political governance, as it can give rise to interest groups pushing for accountable leaders and institutions. The need to marry governance and economics is evident, through a better appreciation of the role of government, local governments and non-governmental organisations.

Keywords: Governance and government; Heterodox approach; Regulatory reform; Privatisation; Decentralisation; Structural transformation; Interest groups (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035316175
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