Market or Government Failures?: An Asian Perspective

by A. Bhalla

Overview

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.

Product Details

ISBN-13:	9781349398096
Publisher:	Palgrave Macmillan UK
Publication date:	01/01/2001
Edition description:	Softcover reprint of the original 1st ed. 2001
Pages:	230
Product dimensions:	5.51(w) x 8.50(h) x (d)

About the Author

A.S. BHALLA is David Thompson Senior Research Fellow at Sidney Sussex College, University of Cambridge. Dr. Bhalla has held research and academic positions at the Universities of Yale, Oxford and Manchester. He has published extensively in well-known journals and is the author of several books on different aspects of developments, e.g. Uneven Development in the Third World, Globalization, Growth and Marginalization, Regional Blocs: Building Blocks or Stumbling Blocks, Poverty and Exclusion in a Global World, and Facing the Technological Challenge.

Table of Contents

List of Tables List of Figures Preface List of Abbreviations Acknowledgements The Old and the New Political Economy Theories of Market and Government Failures Financial Crises: Cases of Market Failure The Asian Financial Crisis; A.S.Bhalla & D.M.Nachane The Impact of the Crisis on China and India; A.S.Bhalla & D.M.Nachane State Enterprises in China and India: A Case of Government Failure Conclusions: Implementation Problems Bibliography Name Index Subject Index

Editorial Reviews

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)

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