Private Markets for Public Goods Raising the Stakes in Economic Reform
- Binding: Paperback
- Publisher: Brookings Inst Pr
- Publish date: 05/01/1998
Description:
This book studies the effects of incorporating market incentives into the public goods arena. Carol Graham examines reforms in education, health, social security, and state-owned enterprises across a range of country and income contexts, with case studies from Latin America, Africa, and Eastern Europe.
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The studies show that the incorporation of new market incentives, such as vouchers in education and private social security systems, can have positive effects on the performance of public institutions. The effects on equity are less clear, however, and in many cases efficiency gains entail short-term equity losses. Yet in the long-term, negative equity effects are usually counter-balanced by the benefits of enhancing the performance of public institutions. The issues explored have relevance for advanced industrial societies and for developing economies.
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