“With better governance, I have no doubt that Africa holds the promise of a broader base of prosperity,” said President Obama in Ghana.

This principle has assumed growing importance in U.S. development assistance policy. The newest U.S. development agency, the Millennium Challenge Corporation, requires that recipient nations meet an array of good governance benchmarks. In these pages, top executives from that organization explain this new philosophy and how it differs from the past. Other articles will provide snapshots of these policies at work.

Leaders of many nations increasingly acknowledge the link between stable, predictable, honest government and economic prosperity. In this edition of eJournal USA, African leaders offer their thoughts about good governance in one article, and another African official explains how better trade policies boost economic opportunity. A prominent Peruvian economist explains how better governance can endow the poor with property rights that will aid an escape from poverty. Billions of people worldwide can achieve greater prosperity through the same methods, he argues. And a representative of the corporate world describes the conditions of governance that must be in place if large companies are going to make investments in the developing world.

To begin the discussion, we’ll cite a definition of good governance as “participatory, consensus oriented, accountable, transparent, responsive, effective, efficient, equitable, inclusive, and follows the rule of law. It assures that corruption is minimized, and the views of minorities are taken into account and the voices of the most vulnerable in society are heard in decision-making. It is also responsive to the present and future needs of society.” That definition first appeared in a United Nations publication a couple of years ago and is widely quoted.

Some other things we’ve learned in researching this publication: Good governance protects order and safety, without constraining individuals in pursuit of their opportunities and expression of their ideas. Good governance is rooted in the belief that citizens who thrive and prosper will spread their prosperity into their communities to employ, enrich, and inspire others.

Good governance stands in bright light and allows itself to be seen without cause for concealment or subterfuge. Good governance dispenses justice evenly, without regard to an individual’s wealth, status, or connections. Good governance is not capricious or arbitrary, but constant, predictable, and applied in equal measure to citizens of all classes, colors, and religions.

The Editors