For a country, competitiveness refers to the way it optimizes the level of productivity, compared to other countries, using its resources, institutions, policies, and other factors, as may be necessary. As we all know, the level of productivity in turn, sets the level of prosperity that can be reached by an economy. It therefore means that the productivity level is a key determinant of the economic growth rate. We now see why governance is extremely important for economic growth and national prosperity. Governing well, implies that we are applying our policies in such a way that our resources and institutions are performing at an optimal rate of productivity. Good governance therefore implies competitiveness. The World Economic Competitiveness report argues that competitiveness is one of the central determinants of a country's return on investment, a key factor that explains an economyâ€™s growth potential. To me, to say there is good governance implies that there is efficiency and effectiveness in the application of our policies relative to our resources and institutions. For most people poor governance means corruption. And they therefore keep wishing it away. You fail calamitously if all you do is to jail people or wish that corruption will go away. People often scheme up ways to avoid being caught, therefore corruption will not just go away and very few people therefore go to jail. As I have often stated it, corruption is always and everywhere related to the expected frequency of opportunity. If opportunities come unpredictably and without merit and the environment is uncertain, then corruption will surely persist. As an illustration, a highly skilled and passionate medical doctor is very unlikely to be corrupt, compared to a quack. So efficiency in governance has to be assured if corruption is to be minimized. Thankfully, President elect Buhari seems to be looking in this direction. In Africa, we must have policies and programs that strengthen competitive economic participation. These include commitments to education, public health services, skills development, community development, efficient resource management and infrastructure development. People must know from early childhood that you may not be successful if you are not competitive enough, and for sure, you cannot be given a position of public trust if you are not promising and considered among the best to have such a position. I am Magnus Kpakol and that's my view.
Posted: May 12th, 2015 @ 07:33:11 AM