GOOD GOVERNANCE AND THE RULE OF LAW- MAJOR PILLARS OF ECONOMIC EFFICIENCY

Abstract

The period after 1990 has been characterized through major changes at political and economic level for most regions of the world and the manner in which power is exercised in the management of a country’s economic and social resources lead to a new specific notion of modern democracy and gain the sense of good governance. The essence of democracy consists in a system of government that is for people and the process of decision-making, the course by which decisions are implemented, partly implemented or not implemented at all, would be pointed out by the process through which public institutions perform public activities, manage public resources and guarantee the respect for the rights of the citizen in a free manner, without abuze and corruption, paying special attention to the rule of law. On the basis of a case study in Romania, the paper argues that in order to achieve good governance, the public authorities need to focus on eight key dimensions: rule of law, participation, consensus oriented, responsibility, transparency, sensibility, effectiveness and efficiency, equity and inclusion. Based on these findings, the paper analyzes specific interferences between good governance and the rule of law, their dimensions but also the manner in which a good cariees to respect the principles of good governance could lead to achieaving the desired goals of economic efficiency in our country.

Keywords

• good governance
• rule of law
• modern democracy