Public Agency Capabilities and Transformational Challenges of the 21st Century
Abstract Combining economic theories of state and market failure with insights from other disciplines, a framework for addressing the kind of intertwined state/market failure characteristic for eras of major socioeconomic transformations is introduced. Under transformational challenges, the agency c...
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| Main Author: | |
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| Format: | Article |
| Language: | deu |
| Published: |
Sciendo
2020-07-01
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| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-020-2700-9 |
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| Summary: | Abstract Combining economic theories of state and market failure with insights from other disciplines, a framework for addressing the kind of intertwined state/market failure characteristic for eras of major socioeconomic transformations is introduced. Under transformational challenges, the agency capacity of public sector is under stress due to a combination of two specific factors: (a) new coordination problems and social dilemmas, inter alia requiring changing degrees of centralisation of collective agency in a world of polycentric governance and (b) shifting rent potentials, which pre-empt public agency by multiplying situations where private agents have the means and the incentives to invest in rentenhancing and distortive rule setting (shadow politics). Coping with those challenges is a necessary condition for forwardlooking public policies. |
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| ISSN: | 0043-6275 1613-978X |