Introduction

Modern nation states are based on an intricate interaction between the domains of politics, governance and economics. These domains are closely related and mutually constitutive of each other. The institutional and ideological framework created by politics shapes governance functions and directs economic systems. In a similar vein, political stability and the effectiveness of institutions and governance policies are directly influenced by economic outcomes. In this regard, governance institutions act as the conduit that controls the implementation of political decisions and determines economic functioning. The three domains of politics, governance and economy constitute the foundational basis of the state-system. Each of these domains functions with a degree of autonomy and with its own raison d’être, priorities and trajectories. However, despite appearing independent of each other, these spheres are deeply interdependent, constantly intersecting, interacting and co-producing outcomes that shape the broader dynamics of state formation and transformation.