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economic development

Which comes first: good governance or economic growth? (Spoiler: it’s neither)

Yuen Yuen Ang's picture

The idea that economic growth needs good governance and good governance needs economic growth takes us to a perennial chicken-and-egg debate: Which comes first in development—good governance OR economic growth? For decades, positions have been sharply divided between those who advocate “fix governance first” and others who say “stimulate growth first.”