The concept of good governance is analyzed with particular emphasis on reasons that contributed to its development, main characteristics and possible impact on reform approaches which aim at achieving quality of contemporary governance. Different conceptions and developmental characteristics of governance are firstly examined, concluding with contemporary conceptualization that tends to widely engage citizens and civil society in the decision-making process, and at the same time accomplish greater effectiveness of public services as a precondition to economic and social development. According to findings presented in this article, this modern approach to the study of governance is in close connection with the effects of managerial reforms and the globalization process. Good governance principles introduced in the European Commission's document "European Governance -- A White Paper" are especially focused on. The research's starting assumption was that those principles derive from the so-called Copenhagen criteria, or political, economic and institutional conditions for membership in the European Union. The article identifies three main characteristics of different approaches to the concept of good governance: strengthening of administrative capacities, determination of principles which should contribute to the quality of contemporary governance assessment, and wider engagement of and consultation with the civil society. Reprinted by permission of Fakultet politickih znanosti u Zagrebu