This paper examines the impact of good governance in elections compared to the role of
the economy. The latter is considered the key factor in electoral survival, while governance
issues are rarely included in politicians' discourse or campaigning strategies. Using the
ParlGov data and the ICRG indicators for 160 elections, the analysis shows that good
governance matters, but mainly for developing countries. Economic growth is an important
electoral topic in most of the elections, but its effect varies systematically across
contexts. The impact of each good governance and the economy get weaker as the other
worsens, and these conditional effects are moderated by the level of economic
development.