Sovereign wealth funds: A potential solution to market failure and government failure

2021 ◽  
Vol 41 (2) ◽  
pp. 241-251
Author(s):  
James Broughel
Keyword(s):  
Market Failure ◽  
Potential Solution ◽  
Sovereign Wealth Funds ◽  
Government Failure

Technological Systems and Comparative Systems of Innovation: From Historical Performance to Future Policy Guidelines

2006 ◽  
Author(s):  
Nick Von Tunzelmann
Keyword(s):  
Market Failure ◽  
Systems Approach ◽  
Technological Development ◽  
Adoption Of Technology ◽  
Government Failure ◽  
Corporate Failure ◽  
Network Failure ◽  
Future Policy ◽  
Comparative Systems ◽  
Institutional Regimes

This chapter looks at the comparative systems approach to understanding the way in which different institutional regimes affect the governance of technological development. It focuses on four institutional constraints: market failure, government failure, corporate failure, and network failure. Each has the potential to impede or disconnect the linkage between the production of technology and the use or adoption of technology.

Understanding Cultural Changes in an Economic Control Agency: The New Zealand Treasury

2001 ◽  
Vol 21 (2) ◽  
pp. 191-212 ◽  
Author(s):  
JOE WALLIS ◽  
BRIAN DOLLERY
Keyword(s):  
New Zealand ◽  
Leadership Style ◽  
Market Failure ◽  
Control Agency ◽  
Core Beliefs ◽  
Cultural Changes ◽  
Advocacy Coalition ◽  
Government Failure ◽  
The Core ◽  
Economic Control

A “bureau-shaping model” is adapted to explain how the head of a control agency can shape its culture by agenda-setting, strategic recruitment and engaging staff in “expression games” through which their reputation depends on the impression they develop of competence and commitment to the core beliefs of the agency. The postwar shaping of a “culture of balanced evaluation” at the New Zealand Treasury (NZT) reflected the hegemony of a market failure paradigm. The NZT reinvented itself in the 1980s so that it would be aligned with a reformist advocacy coalition committed to impose and institutionalize a government failure paradigm. The accumulation of a number of threats to the NZT's authority appear to be prompting another reinvention as its current secretary seeks to bring it more into line with the appreciative leadership style of its centre-left government.

scholarly journals Efficiency and Democratic Political Organisation; The Case for the Referendum

1992 ◽  
Vol 12 (3) ◽  
pp. 209-222 ◽  
Author(s):  
Bruno S. Frey
Keyword(s):  
Market Failure ◽  
The State ◽  
Government Failure ◽  
Authoritarian Government

ABSTRACTFamiliar theories of market failure have diagnosed shortcomings in the economy, but theories of government failure argue that the state is incapable of correcting them. More than that, many criticisms of government implicitly or explicitly see failure as due to fundamental shortcomings of democracy. This paper argues that democratic forms of governments are not necessarily inefficient relative to other types of decisionmaking, for example, authoritarian government, and that if individuals are as rational in their actions and expectations as voters as they are meant to be in the market, then failures attributed to democracy lessen or disappear altogether. The paper demonstrates how more democracy, i.e. the use of the initiative and referendum, may actually improve the efficiency of government by giving the mass of citizens the information and opportunity to frustrate efforts of the classe politique to form a coalition against the voters. Empirical examples are drawn from the experience of Switzerland.

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