Contiene referencias bibliográficas pp. 59-61

In this booklet, governance is defined as the manner in which power is exercised in the management of a county's economic and social resources for development. Good governance, for the World Bank, is synonymous with sound development management The Bank's experience has shown that the programs and projects it helps finance may be technically sound, but fail to deliver anticipated results for reasons connected to the quality of government action. Legal reforms, however urgent, may come to naught if the new laws are not enforced consistently or there are severe delays in implementation. Efforts to develop privatized production and encourage market-led growth may not succeed unless investors face dear rules and institutions that reduce uncertainty about future government action. Vital reforms of public expenditure may flounder if accounting systems are so weak that budgetary policies cannot be implemented or monitored, or if poor procurement systems encourage corruption and distort public investment priorities. Failure to involve beneficiaries and others affected in the design and implementation of projects can substantially erode their sustainability.
This booklet identifies four areas of governance that are consistent with the Bank's mandate: public sector management, accountability, the legal framework for development, and information and transparency. It focuses on the last three areas, analyzes issues of relevance to the Bank, and cites examples of Bank experience and best practice in each area.