Article Type

Article

Description

An economy is driven by the contributions and interactions of state, society and markets. Before we take up the agenda for recalibrating governance and institutions intermediating and administering governance and delivering public goods and services, it is essential to specify the boundaries between the state and the market. Society’s contributions can be complementary or supportive of both the state and the market. There is now a broad agreement that the government in a developing country has to: (i) provide external and internal security for the people; (ii) collect taxes; (iii) manage the public finances; (iv) conduct foreign affairs; (v) maintain a stable macroeconomic environment including a sound and healthy financial system; (vi) make available the basic infrastructural facilities; (vii) develop an education and training system capable of supplying the skilled manpower; (viii) encourage as well as undertake research and development; and (ix) ensure an enabling regulatory framework for private sector and community participation in development.

Publication Source

The News

Publication Date

1-20-2023

Pages

1-4

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