Reference no: EM133023943

The one area identified and researched a lot of times about top-down approaches in governments supporting global economies is crowdsourcing. Crowdsourcing was initially developed and applied in the private sector, and later some government agencies started experimenting with them. Crowdsourcing has become a highly influential and central approach to top-down initiatives in several countries today. A good example is provided in the USA's 'Open Government Directive' (Executive Office of the President, 2009).

Transparency, participation, and collaboration have been defined as the main pillars of an open government that supports open business activities that directly impact global economies. For example, transparency is a critical component of any government decision-making efforts as it promotes accountability by providing the public with information about what the government is doing. In addition, participation allows members of the public to directly contribute ideas and expertise so that their government can benefit from information and knowledge that is widely dispersed in society to design better policies. On the other hand, collaboration is another component that complements transparency and participation.

Question: Why is participation a critical component in a top-down approach in government governance and policymaking in global economies? Would you please provide your thoughts?

Question: Do you believe that a combination of the top-down and bottom-up approaches is necessary for maintaining the international revenues that come into the country?