Democracy

….. “First and foremost, a country needs to have good governance that commands the consent of the governed, effective and impartial rule of law including relentless combat of corruption, competent and socially legitimate protection of property rights, and well-designed, well-enforced regulations (appropriate to the country’s stage of development) to protect workers rights and the environment. One of the signs of how serious the government is about forging a new, results-oriented approach to development, is a fact which the Monterrey Consensus makes clear, “domestic good governance is a prerequisite for sustainable development.” Developing country leaders increasingly accept the fact that they bear primary responsibility for their own development, beginning with good governance. When sustained economic growth and poverty eradication have occurred over several generations, it has generally been in situations where governments are open, democratic, inclusive, and accountable. Good governance is the key to unlocking the resources and opportunities from all financial flows that are essential for economic growth.”

From a  U.N Report; Mobilisation of Financial Resources for Economic Development. (Page 4)

 

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