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L'insaisissable relation entre « bonne gouvernance » et développement

Author

Listed:
  • Nicolas Meisel
  • Jacques Ould Aoudia

Abstract

This working paper offers tools for rethinking the role of “good governance” in development strategies. What is “good governance”? Transparency of public action, control of corruption, free operation of markets, democracy and the rule of law. Along with macroeconomic stabilisation, “good governance” has imposed itself as a universal imperative in development policies since the 1990s. Yet, with the help of a new database (Institutional Profiles, 2006), we show that if there might be a correlation between “good governance” and the level of development (per capita gdp), there is no correlation between it and the speed of development (medium-to-long-term growth). By identifying the specific institutions that characterized rapidly-growing developing countries, we can precise the strategic governance capabilities developed by these countries: “good governance” does not emerge as a priority for economic take-off. It becomes one later, along with the opening of the economic, social and political regulation systems when, having experienced sustained and lengthy growth, a country seeks to converge with developed countries. In other, non-converging developing countries, the priority could be to build capacities for strategic vision and co-ordination among elites. We therefore propose a wider definition of governance (“governance for development”) and new indicators to measure it. Classification JEL : C8, K0, O10, O17, O4, O57, P0, P1.

Suggested Citation

  • Nicolas Meisel & Jacques Ould Aoudia, 2008. "L'insaisissable relation entre « bonne gouvernance » et développement," Revue économique, Presses de Sciences-Po, vol. 59(6), pages 1159-1191.
  • Handle: RePEc:cai:recosp:reco_596_1159
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    References listed on IDEAS

    as
    1. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000. "Investor protection and corporate governance," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 3-27.
    2. Ross Levine & Norman Loayza & Thorsten Beck, 2002. "Financial Intermediation and Growth: Causality and Causes," Central Banking, Analysis, and Economic Policies Book Series,in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.), Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 2, pages 031-084 Central Bank of Chile.
    3. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
    4. King, Robert G. & Levine, Ross, 1993. "Finance, entrepreneurship and growth: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 513-542, December.
    5. Boot, Arnoud W A & Greenbaum, Stuart I & Thakor, Anjan V, 1993. "Reputation and Discretion in Financial Contracting," American Economic Review, American Economic Association, vol. 83(5), pages 1165-1183, December.
    6. Thorsten Beck & Asli Demirgüç-Kunt & Ross Levine, 2001. "Legal Theories of Financial Development," Oxford Review of Economic Policy, Oxford University Press, vol. 17(4), pages 483-501.
    7. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300.
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    More about this item

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • K0 - Law and Economics - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P0 - Economic Systems - - General
    • P1 - Economic Systems - - Capitalist Systems

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