Managing Development in a Globalized World

Chapter 5The Governance of Development

Which is the best government? That which teaches us to govern ourselves.

Johann Wolfgang von Goethe

Setting the Scene

With the emergence of globalization and the intrusions of neoliberal ideas over the past few decades, the role of the state and the approach to and strategies of economic growth and development have undergone a remarkable transformation. The first-generation neoliberal economic reforms before the 1980s were basically about establishing and entrenching macroeconomic fundamentals and the creation ...