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Good governance is often regarded as essential for a country's economic development. The World Bank's governance framework has guided development projects and governance…
Good governance is often regarded as essential for a country's economic development. The World Bank's governance framework has guided development projects and governance reform in many developing nations over the past few decades. The purpose of this paper is to provide an overview of the World Bank's approach towards governance reform in the public sector, especially in developing economies of the world.
The paper highlights various aspects of good governance that are relevant to the delivery of social and infrastructural services in developing countries. The paper also discusses the strengths and weaknesses of the World Bank's governance framework, especially pertaining to social and infrastructure sectors in developing economies.
In light of its past experience, the World Bank has expanded the reach of its developmental activities to incorporate governance reform in accordance with the institutional realities prevailing in a developing economy, instead of following a “one‐size‐fit‐all” approach to public sector governance reform. The bank has also encouraged the use of decentralized decision making and private sector participation to achieve greater efficiency, transparency and accountability in the delivery of social and infrastructural services.
The paper provides a useful contribution to the literature concerning the role of international development organizations in formulating strategies that developing economies can follow to pursue public sector governance reform.