The term ‘political economy’ has become an increasingly popular part of the vernacular at the World Bank and other development agencies. In parallel, interest in the political economy aspects of development has also seen a resurgence in academia, within both economics and political science departments, and even in leading business programs.
The idea that citizens can directly contribute to strengthening the governance and quality of service delivery has been gaining momentum. The recent globabl uprisings, from revolutions in Egypt and Tunisia to the Occupy Wall Street movements here in the US, have highlighted the important role that individuals play in demanding more accountable governments and policies.
After a year of intensive consultation among development partners and with technical experts within the World Bank, I am pleased to announce that the World Bank Approach to Public Sector Management (2011-2020) has been agreed by the Public Sector Governance Board (the internal body that maintains professional standards on PSM and governance work within the Bank).