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Public-Private Sector Relationships In Developing Countries

Author

Listed:
  • Martin J. Staab

    (Department of Economics and School of Foreign Service, Georgetown University)

Abstract

This paper refutes the conventional wisdom, bolstered in the wake of the Asian financial crisis that governments should not become too friendly with the private sector but, instead, should remain neutral and at arms-length distance. The empirical findings presented here indicate that countries in which governments have forged close and cooperative working relationships with the private sector have had much greater economic success. Furthermore, countries with more business-friendly public-private sector relationships tend to exhibit greater positive responsiveness to pro-growth policy reforms. In many developing countries today, where public-private sector relationships are characterized more by mistrust than cooperation, more not less collaboration is needed to spur economic growth. The art of governance, however, is avoiding state capture and not letting this partnership degenerate into favoritism and cronyism.

Suggested Citation

  • Martin J. Staab, 2003. "Public-Private Sector Relationships In Developing Countries," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 28(2), pages 1-22, December.
    • Handle: RePEc:jed:journl:v:28:y:2003:i:2:p:1-22
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    File URL: http://www.jed.or.kr/full-text/28-2/Staab.PDF
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    References listed on IDEAS

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    3. World Bank, 2000. "World Development Indicators 2000," World Bank Publications - Books, The World Bank Group, number 13828, December.
    4. Steven Radelet & Jeffrey Sachs, 2000. "The Onset of the East Asian Financial Crisis," NBER Chapters, in: Currency Crises, pages 105-153, National Bureau of Economic Research, Inc.
    5. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    6. Stiglitz, Joseph E, 1996. "Some Lessons from the East Asian Miracle," The World Bank Research Observer, World Bank, vol. 11(2), pages 151-177, August.
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    Cited by:

    1. George Atisa, 2020. "Policy adoption, legislative developments, and implementation: the resulting global differences among countries in the management of biological resources," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 20(1), pages 141-159, March.

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    More about this item

    Keywords

    Public-Private Sector Relationships; Governance;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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