Political Governance and Sustainable Development

Abstract

Economic development is one of the most controversial issues of economic history. The experience in development research of the past 50 years has demonstrated that development is possible but not inevitable. Governance over the last few decades has moved into the spotlight of development economists. The relationship between governance and development has been a highly debated topic. Therefore, the main purpose of this chapter is to critically examine the evidence on the governance-development relationship by providing systemic reviews of recent theoretical debate. This chapter is divided into three main sections. First, the chapter traces the concepts, elements, and theories of economic development, starting with Adam Smith and his classical school and finally recent theory on development which focus on institutions. The second section examines different perspectives of governance and identifies key governance indicators. The final section explores selected theories of governance and development emanating from several disciplines in the social sciences.