Governance refers to the patterns and distribution of the institutionalized capacity to take and influence decisions with regard to a particular locality. Regional governance and regional institutions came to the fore in the 1980s in economics and geography literature, with attention given to dimensions of the long-term future and development of particular regions and localities. Such dimensions include the institutional capacity and thickness in an area, the invisible factors in regional development, networking, and industrial districts.
The essential domestic functions of government (or, by extension, of any organization), including establishing, publicizing, and enforcing rules and codes of law, as well as instituting and implementing regulatory regimes. Corporate governance refers to the internal administrative functions of a corporation, as these relate to setting and maintaining standards and rules, especially of financial probity. Economic governance may refer to the set of economic policies that a government carries out, or to its regulation of a sector of the economy, such as banking.
Governance is a comprehensive term used to denote the institutions and processes by which people are governed. It is the exercise of authority, control, management and power of government. More specifically, it refers to the operations of legislatures, cabinets and public services in Canada and the manner in which they interact with the public, including the style and substance of consultation, the management of the public service and the capacity of the private sector to participate effectively in the development and implementation of public policy.