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Market Failure, Government Failure, Leadership and Public Policy - B. Dollery
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Market Failure, Government Failure, Leadership and Public Policy

By: B. Dollery, J. Wallis

Hardcover | 19 July 1999 | Edition Number 1

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A global wave of reform is fundamentally transforming both the nature and the role of the state in advanced national economies. This book provides a fresh and readily accessible perspective on the political economy of this megatrend. It traces the theoretical roots of public sector reforms to conceptual developments in public economics, which revolve around debates on the relative importance of market and government failure. The book then breaks new ground by developing an economic theory of leadership to explain how policy entrepreneurs and policy networks can drive the direction of reform processes in representative democracies. This theory of leadership contests current conventional wisdom on public sector reform represented by the New Public Management and contractualist approaches to improving public sector productivity. It argues that these approaches overlook the potentially crucial role of leadership in public agencies and the various ways in which transformational leadership can activate reform and stimulate efficiency.

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