Governance ensures a wide range of desirable values including efficiency, productivity, participation, transparency, and accountability. The wide scope and overambitious demands of governance make it difficult to conceptualize and operationalize. Despite huge investments in time and resources, developing countries seldom succeed in establishing good governance. Based on the experience of Hong Kong, this article argues that many of the desired values of governance can be attained through effective design and the implementation of public management reforms. Public management cannot serve as an alternative for governance, but reforms in this area can help update and adjust institutional structures, processes, and practices in developing countries; they help to ensure the benefits of the desired values of governance without undertaking enormous risks. However, the size of a country and the nature of its political system will influence the degree of success in establishing governance. © 2013 Springer Science+Business Media New York.