Economic Management, Public Financial Management Efficiency, And Governance Quality: Evidence from Ghana’s Reform Trajectory

Abstract

This paper discusses the reform trajectory between economic management, public finance efficiency, and governance quality within Ghana. This study was based on the institutional theory and public financial management theory. The study employed a mixed-method research design, which combined quantitative analysis of fiscal data and qualitative assessment from key stakeholders. The study used structured interviews to gather data for the qualitative study. The research found that, although Ghana has developed an extensive PFM framework, there exist weaknesses in institutions implementing reforms. The study adds to existing body of literature on PFM and Good governance in developing countries and it provides evidence based policy suggestions on how to enhance the interactions between economic management and governance performance. The implication of the study are not limited to Ghana but they can also be applied to the sub-Saharan African nations that are going through same governance and fiscal reforms.