FORESIGHT IN THE EGYPTIAN ROUTE TOWARDS DEMOCRACY AND GOOD GOVERNANCE AFTER THE JANUARY 25TH REVOLUTION

Abstract

Economists, sociologists, and politicians thought that era of the dark ages and political theology that declined in popularity in West since 16th century would not be repeated. They thought that amount of corruption, and deterioration of economic and social conditions that occurred in that era, taught everyone not to link political questions with values ones. In light of Arab spring revolution; as they try to shift from an authoritarian to democratic regimes, Egypt today has proven them completely wrong. The paper's target is to answer following questions; will revolution carry a redistributive political action and fulfil people's objectives or will it end with depressing effects on growth which hinder country's development process? Why are some countries able to formulate democratic regime, and achieve economic development and growth while others' attempts have been futile? What are vital political settings for these calls to attain a progressive development and growth path? The paper will explore lessons that can be adopted from South Korea's move to democracy in late 1970s and try to implement these lessons in countries that search for democratic processes. Finally paper concludes with analysis that having a democratic system does not always grantee a boost to economic growth, but good governance does.