At an event in Washington, D.C, former finance minister of Afghanistan, Dr Ashraf Ghani, discussed why tackling economic questions is essential for transitioning countries. He shared his experiences from the past and reflected on how they can help prepare for present and future challenges.
Drawing from his experience in Afghanistan and extensive research in political and economic transitions,
Dr Ashraf Ghani discussed why economic reform is an essential component of transition. The success of a transition depends on consensus building, yet the economic dimension is largely absent from peace agreements.
Functioning economies are needed to reinforce the legitimacy of a consensus and to enable societies to prosper. Otherwise crime, corruption and lack of opportunity will lead to disillusionment with democracy, as history has shown. Economics, governance and security are closely interlinked, and a framework for measurability and accountability at local and international levels is necessary for achieving positive, lasting outcomes.
The lecture recognised the one year anniversary of the Legatum Institute's
Democracy Lab, an online partnership between the Legatum Institute and
Foreign Policy magazine, dedicated to covering political and economic transitions around the world.
In addition, the lecture also marked the start of a joint ‘Transitions Lecture Series’ organised by the Legatum Institute, the National Endowment for Democracy’s International Forum for Democratic Studies, and
World Affairs, that will explore the link between economic reform and political transitions.
A transcript of Dr Ghani's lecture is available
here.
A video of the lecture is also available
here.