The notion of governance was highlighted in the late 1980s when neoliberal ideas began to permeate political and economic thinking and developmental praxis. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. A major reason for adopting a new approach to public sector management by the end of the 1980s was the growing dissatisfaction with the performance of traditional public administration in realizing the goals of progressive governments. Basically horizontally organized and fragmented self-regulating networks operate to govern, formulate policies, and deliver services by sharing sovereignty with the state. Globalization has led to fundamental changes in the global order and the transformation of regimes, norms and rules, and networks on the international plane since the 1980s. Economic governance, similar to other forms of governance, is about interactions among economic actors; interventions of the state and of markets; and interplays between national, regional, and global regimes.