What is the relationship of good governance to economic growth and development?

Question

Quizplus · Accepted Answer

Good governance is crucial to ensure sustainable and inclusive economic growth and development. When a government is efficient, transparent, accountable, responsive, and participatory, it creates an environment that attracts investment, encourages entrepreneurship, and promotes innovation. This, in turn, leads to higher productivity, increased trade, and better living standards for the population. Good governance also helps to reduce corruption, inequality, and social unrest, which are major impediments to economic growth and development. Therefore, it is essential to both aspects of economic progress.

What Is the Relationship of Good Governance to Economic Growth