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.
General
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