Recent years have seen the emergence of a considerable volume of literature on governance and its role in economic and social development of a country. This paper provides a critical review of the literature. This review brings into the open a number of serious conceptual, measurement, and data...

The paper examines how democracy affects long-run growth by influencing the quality of governance. Empirical evidence is first presented showing that measures of the quality of governance are substantially higher in more democratic countries. A general-equilibrium, endogenous growth model is...

The history of foreign aid has been inextricably linked with corruption. Since the inception of the International Development Association (IDA) in 1960, a large body of writings has emerged on the corrosive effect of corruption that undermines the effectiveness of foreign aid. To improve the...