With an objective to unpack what ’good enough’ governance might mean for the post-Soviet states, we empirically investigate the relationship between governance and economic development. The paper reflects on what interventions are likely to achieve ‘good enough’ governance in the post-Soviet states and how international donors might optimize interventions to affect change. While it is possible to argue for a positive link between governance indicators and economic growth in Post-Soviet Eurasia, in general, we find that this relationship is context-specific. Particularly, the rule of law, government effectiveness and regulatory quality are positively associated with economic growth but voice and accountability has a negative effect. Our results and discussion shed some light on the the reasons behind the recent rise of authoritarian regimes in this geography and the frequent disparity between economic and democratic reforms in transition countries.