To read this content please select one of the options below:

Regulation and public‐private partnerships

Nutavoot Pongsiri (The University of Manchester, Manchester, UK)

International Journal of Public Sector Management

ISSN: 0951-3558

Article publication date: 1 November 2002

9670

Abstract

A public‐private partnership can be seen as an appropriate institutional means of dealing with particular sources of market failure by creating a perception of equity and mutual accountability in transactions between public and private organisations through co‐operative behaviour. The relative merit of the idea of public‐private partnership is oriented mainly around a mutual benefit. As the roles of government in public‐private partnerships are not only to provide services, but also to monitor the marketplace, a well‐defined regulation framework is essential. A sound regulatory framework will increase benefits to the government by ensuring that essential partnerships operate efficiently and optimise the resources available to them in line with broader policy objectives, ranging from social policy to environmental protection. In turn, it provides assurance to the private sector that the regulatory system includes protection from expropriation, arbitration of commercial disputes, respect for contract agreements, and legitimate recovery of costs and profit proportional to the risks undertaken.

Keywords

Citation

Pongsiri, N. (2002), "Regulation and public‐private partnerships", International Journal of Public Sector Management, Vol. 15 No. 6, pp. 487-495. https://doi.org/10.1108/09513550210439634

Publisher

:

MCB UP Ltd

Copyright © 2002, MCB UP Limited

Related articles