Policy Brief No. 04 of 2007 on Governance Challenges in Public Expenditure Management in Kenya

Abstract

The concept of governance covers the social, economic, corporate, political and cultural aspects of how power is exercised in an organization or society. The common principles in the exercise of power include: accountability, transparency, openness, participation, performance, fairness, predictability, legitimacy and voice. Some of these principles overlap and are interrelated. The concept of governance can thus be applied at different levels of society or institution. It is widely acknowledged that good governance plays an important role in the development process. Through research, it has been established that improved governance has a large positive effect on development outcomes.