World Bank urges Caribbean to re­think Ap­proach to Gov­er­nance

The Star (St. Lucia) - - REGIONAL - --- Ja­maica Ob­server

The World Bank is urg­ing Caribbean coun­tries to re­think their ap­proach to gov­er­nance, as key to overcoming chal­lenges re­lated to se­cu­rity, growth and eq­uity.

In a new re­port ti­tled “Gov­er­nance and the Law” the Wash­ing­ton-based fi­nan­cial in­sti­tu­tion ex­plores how un­equal dis­tri­bu­tion of power in a so­ci­ety in­ter­feres with poli­cies’ ef­fec­tive­ness.

The World Bank said power asym­me­tries help ex­plain, for ex­am­ple, why model an­ti­cor­rup­tion laws and agen­cies of­ten fail to curb cor­rup­tion, why de­cen­tral­i­sa­tion does not al­ways im­prove mu­nic­i­pal ser­vices; or why well-crafted fis­cal poli­cies may not re­duce volatil­ity and gen­er­ate longterm sav­ings.

The re­port notes that when poli­cies and tech­ni­cal so­lu­tions fail to achieve in­tended out­comes, in­sti­tu­tions of­ten take the blame.

How­ever, it finds that coun­tries and donors need to think more broadly to im­prove gov­er­nance so that poli­cies suc­ceed.

The re­port de­fines bet­ter gov­er­nance as the process through which state and non-state groups in­ter­act to de­sign and im­ple­ment poli­cies, work­ing within a set of for­mal and in­for­mal rules that are shaped by power.

“As de­mand for ef­fec­tive ser­vice de­liv­ery, good in­fra­struc­ture, and fair in­sti­tu­tions con­tin­ues to rise, it is vi­tal that gov­ern­ments use scarce re­sources as ef­fi­ciently and trans­par­ently as pos­si­ble,” World Bank Group Pres­i­dent Jim Yong Kim said.

“This means har­ness­ing pri­vate sec­tor ex­per­tise, work­ing closely with civil so­ci­ety, and re­dou­bling our ef­forts in the fight against cor­rup­tion. With­out bet­ter gov­er­nance, our goals of end­ing ex­treme poverty and boost­ing shared pros­per­ity will be out of reach,” Kim added.

The re­port iden­ti­fies three win­ning in­gre­di­ents of ef­fec­tive poli­cies namely com­mit­ment, co­or­di­na­tion and co­op­er­a­tion.

“Gov­ern­ment of­fi­cials do not act in a vac­uum. Their de­ci­sions re­flect the bar­gain­ing power of cit­i­zens who jockey with each other to ad­vance com­pet­ing in­ter­ests,” said World Bank Chief Econ­o­mist, Paul Romer.

“So, this re­port launches a very im­por­tant dis­cus­sion for gov­ern­ments, their coun­tries, and peo­ple in the devel­op­ment com­mu­nity about how we can make sure that so­ci­ety is on a path that’s gen­er­at­ing progress.”

Newspapers in English

Newspapers from Saint Lucia

© PressReader. All rights reserved.