Governance and the economy in Asia and the United States: institutions, instruments and reform. Issue 1 (2nd January 2016)

• Record Type: Journal Article
• Authors: Knott, Jack H.
• Is Part Of: Asia Pacific journal of public administration. Volume 38:Issue 1(2016)
• Page Start: 7
• Page End: 23
• Publication Date: 2016-01-02
• Subjects: governance -- democratic governance -- economic development -- instruments -- institutions -- reform -- state capitalism, corruption -- China -- Singapore -- South Korea -- United States; Public administration -- Pacific Area -- Periodicals; Public administration -- Periodicals; Pacific Area -- Politics and government -- Periodicals; Periodicals; 351
• DOI: 10.1080/23276665.2016.1152723
• Languages: English
• ISSNs: 2327-6665

Abstract

Abstract : Effective governance involving the use of various institutions and instruments is very important for economic development. While many states fail to achieve even the minimal features of effective governance, state capitalism has proven to be a successful model economically. The problem is that state capitalism is frequently associated with authoritarian and corrupt regimes. Over time, such regimes limit economic efficiency, ignore the environment, and under-invest in social and health services. In the West and some Asian countries, these conditions have led to substantial reform in democratic governance. Singapore and possibly the People's Republic of China offer alternative models of reform, reducing corruption and somewhat liberalising their economies in the absence of well-developed democratic governance.