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The anatomy of government failure

Timothy Besley

in Principled Agents?: The Political Economy of Good Government

Published in print:
2007
Published Online:
October 2011
ISBN:
9780199283910
eISBN:
9780191700279
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199283910.003.0002
Subject:
Economics and Finance, Public and Welfare

This chapter focuses on government failure. Most economists now agree that the idea of government failure needs to be placed alongside the idea of market failure in discussions of government ... More


Technological Systems and Comparative Systems of Innovation: From Historical Performance to Future Policy Guidelines

Nick Von Tunzelmann

in The Economic Future in Historical Perspective

Published in print:
2006
Published Online:
January 2012
ISBN:
9780197263471
eISBN:
9780191734786
Item type:
chapter
Publisher:
British Academy
DOI:
10.5871/bacad/9780197263471.003.0006
Subject:
Economics and Finance, Economic History

This chapter looks at the comparative systems approach to understanding the way in which different institutional regimes affect the governance of technological development. It focuses on four ... More


Market and State

Yujiro Hayami and Yoshihisa Godo

in Development Economics: From the Poverty to the Wealth of Nations

Published in print:
2005
Published Online:
October 2005
ISBN:
9780199272709
eISBN:
9780191602870
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199272700.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

The question of what kind of institutional set-up would be appropriate for promoting economic development is approached in terms of combination between market and state. The traditional debates on ... More


Improving Our Chances of Transition to Sustainability: The Role of Values and the Ethics of Solidarity and Sympathy

Andrew Dobson

in Addressing Tipping Points for a Precarious Future

Published in print:
2013
Published Online:
January 2014
ISBN:
9780197265536
eISBN:
9780191760327
Item type:
chapter
Publisher:
British Academy
DOI:
10.5871/bacad/9780197265536.003.0026
Subject:
Political Science, Environmental Politics

Governments are failing to govern. They are hollowing out both the safety nets of social support and of ethical norms. The market is guided by financial incentive and short-term profit-making, by ... More


The Market and Information

Nicholas Barr

in The Welfare State as Piggy Bank: Information, Risk, Uncertainty, and the Role of the State

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199246595
eISBN:
9780191595936
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199246599.003.0002
Subject:
Economics and Finance, Public and Welfare

This chapter sets out the economic theory of the role of the state that underpins the rest of the book. It starts with a simple model – the Fisher model – of rational consumer choice over the life ... More


Market and State

Yujiro Hayami

in Development Economics: From the Poverty to the Wealth of Nations

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199243976
eISBN:
9780191596377
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199243972.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

The question of what kind of institutional set‐up would be appropriate for promoting economic development is approached in terms of combination between market and state. The traditional debates on ... More


Markets, governments, and politics

Deepak Nayyar

in Resurgent Asia: Diversity in Development

Published in print:
2019
Published Online:
November 2019
ISBN:
9780198849513
eISBN:
9780191883620
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198849513.003.0006
Subject:
Economics and Finance, South and East Asia, Development, Growth, and Environmental

This chapter shows that governments performed a critical role, ranging from leader to catalyst or supporter, in the economic transformation of Asia spanning half a century, while their willingness ... More


Innovation Policy as Creating Markets, Not Only Fixing Them: Implications for Complexity Theory

Mariana Mazzucato

in Complexity and Evolution: Toward a New Synthesis for Economics

Published in print:
2016
Published Online:
May 2017
ISBN:
9780262035385
eISBN:
9780262337717
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035385.003.0014
Subject:
Economics and Finance, History of Economic Thought

Successful innovation policies are those that actively create and shape markets, not only fix them. In the past this has been achieved through “mission-oriented” policies aimed not at fixing market ... More


The Theory of Social Balance

Mike Berry

in The Affluent Society Revisited

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199686506
eISBN:
9780191766374
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199686506.003.0010
Subject:
Economics and Finance, History of Economic Thought

The final problem threatening societies like the US concerns the pervasive bias in favour of privately produced goods and services at the expense of those provided by government. Inadequate public ... More


China’s Global Hybrid Model for Development under Globalization

Douglas B. Fuller

in Paper Tigers, Hidden Dragons: Firms and the Political Economy of China's Technological Development

Published in print:
2016
Published Online:
August 2016
ISBN:
9780198777205
eISBN:
9780191822995
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198777205.003.0008
Subject:
Business and Management, Political Economy

China’s experience in technology-intensive industries suggests a new model of development: the global hybrid model. The global hybrid model relies on hybrid firms combining foreign finance and shared ... More


Development Strategy: Balancing Market and Government Failure

Shantayanan Devarajan and Ravi Kanbur

in International Development: Ideas, Experience, and Prospects

Published in print:
2014
Published Online:
April 2014
ISBN:
9780199671656
eISBN:
9780191751127
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199671656.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter describes the evolution of development economics thinking after the Second World War as one of a constantly shifting balance between addressing market failures and government failures. ... More


Individuals and collective action

Paul Spicker

in Reclaiming individualism: Perspectives on public policy

Published in print:
2013
Published Online:
September 2013
ISBN:
9781447309086
eISBN:
9781447310860
Item type:
chapter
Publisher:
Policy Press
DOI:
10.1332/policypress/9781447309086.003.0006
Subject:
Political Science, Public Policy

There are reasons to be sceptical about whether it is possible to move from an individualist position to considering the interests of groups. The ‘impossibility theorem’ seems to imply that people ... More


Ends and Means, State and Market

Vijay Joshi

in India's Long Road: The Search for Prosperity

Published in print:
2017
Published Online:
March 2017
ISBN:
9780190610135
eISBN:
9780190610166
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190610135.003.0003
Subject:
Economics and Finance, International

This chapter is an essay on the ends and means of economic development. The objective of development is defined as the achievement of ‘rapid, inclusive, stable, and sustainable growth of national ... More


The Evolving Paradigms of Structural Change

Justin Yifu Lin and Celestin Monga

in International Development: Ideas, Experience, and Prospects

Published in print:
2014
Published Online:
April 2014
ISBN:
9780199671656
eISBN:
9780191751127
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199671656.003.0017
Subject:
Economics and Finance, Development, Growth, and Environmental

The notion of “structures” has evolved over the decades to cover both macro and micro issues, and to hold different meanings. In the 1940s, the focus was on market failures and the active ways in ... More


Further Issues in Humanitarian Intervention

Fernando R. Tesón

in Debating Humanitarian Intervention: Should We Try to Save Strangers?

Published in print:
2018
Published Online:
October 2017
ISBN:
9780190202903
eISBN:
9780190202934
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190202903.003.0006
Subject:
Philosophy, Moral Philosophy, Political Philosophy

The chapter examines three issues addressed in the literature. The first is the objection that governments cannot be trusted with making these intervention decisions. The chapter accepts the force of ... More


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