Two to Tango: Public-Private Collaboration

Gustavo Crespi, Eduardo Fernández-Arias and Ernesto Stein
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Eduardo Fernández-Arias: University of California
Ernesto Stein: University of California

Chapter 11 in Rethinking Productive Development, 2014, pp 359-389 from Palgrave Macmillan

Abstract: Abstract In the traditional view of productive development policies (PDPs), the roles of government and the private sector are completely separated. Market forces are powerful, and largely lead to desirable outcomes. When a market failure does arise that requires government intervention, a public sector entity identifies the problem and designs a solution. Government sets the rules and conditions, pursuing some collective goals, and firms act within those rules and conditions, attempting to maximize profits. If the rules are well designed, the individual and profit-seeking behavior of the firms leads to good results. In that context, with very well-informed governments, there is limited room for public-private interaction in productive development policy. Each side can do its part independently of the other.

Keywords: Private Sector; Public Sector; Coordination Problem; Business Association; Private Agent (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-39399-9_11

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DOI: 10.1057/9781137393999_11

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