Financial Crises, Business Cycles - Economics, Economic Policies in Asia
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Overview
This book critiques the attention generally placed on government failures in economic crises. Bhalla tunrs to the market, exploring corporate failures which occur in both public and private spheres. These may be due to lapses in implementation of policies and programs. Lack of enforcement in developing countries occurs either because rules and norms do not exist or because they are poorly enforced.
Synopsis
Choosing between government and market is not a very helpful exercise since both are necessary. This book argues that it is misplaced to dichotomise between government and market failures. Too much attention is generally placed on government failures and not enough on private corporate failures. Failures occur in both public and private corporate spheres. They may be due to lapses in implementation of policies and programmes. Lack of enforcement in developing countries occurs either because rules and norms do not exist or they are poorly enforced. Emphasis on implementation problems highlights the importance of organizations and institutions.Editorials
Booknews
While there are failures of both government and the market in developed and developing countries, says Bhalla (U. of Cambridge), neoliberal apologists tend to emphasize the former in order to keep the latter pristine. He also distinguished between state and government failures, which he says too many analysts do not. His point is not to choose either governments or markets over the other, but to argue that failures to implement and enforce strategies, policies, and goals in both public and private organizations are of concern. Annotation c. Book News, Inc., Portland, OR (booknews.com)Book Details
Published
March 13, 2001
Publisher
Palgrave Macmillan
Pages
250
Format
Hardcover
ISBN
9780333662403