Private Money in Public Expenditure

Nicholas G. Terry

Chapter 3 in The Evolution of Public Management, 1992, pp 49-64 from Palgrave Macmillan

Abstract: Abstract The government’s policy of privatising utilities and the private financing of new national infrastructure is intended to secure the benefits of introducing the ‘market’ into activities that had previously been exclusively those of the public sector. In particular, the aim is to improve economic efficiency (rather than social efficiency) and consumer choice through ‘competition’, and to increase infrastructure provision and replacement through private sector supply. This chapter will explore some of the issues raised by the latter objective, and the current mechanism for initiating, operating and funding infrastructure projects. The questions of the likely limits to using private money and the prerequisites for fully exploiting the potential benefits of the policy will also be considered. Ultimately, a number of lessons emerge for those charged with balancing the inevitable disciplines imposed by capital markets and the legitimate concerns of public sector managers.

Keywords: Private Sector; Capital Market; Public Expenditure; Political Risk; Capital Budget (search for similar items in EconPapers)
Date: 1992
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11473-3_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349114733

DOI: 10.1007/978-1-349-11473-3_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().