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Two to Tango: Public-Private Collaboration

In: Rethinking Productive Development

Author

Listed:
  • Gustavo Crespi

    (University of Chile
    Sussex University)

  • Eduardo Fernández-Arias

    (University of California)

  • Ernesto Stein

    (University of California)

Abstract

In the traditional view of productive development policies (PDPs), the roles of government and the private sector are completely separated. Market forces are powerful, and largely lead to desirable outcomes. When a market failure does arise that requires government intervention, a public sector entity identifies the problem and designs a solution. Government sets the rules and conditions, pursuing some collective goals, and firms act within those rules and conditions, attempting to maximize profits. If the rules are well designed, the individual and profit-seeking behavior of the firms leads to good results. In that context, with very well-informed governments, there is limited room for public-private interaction in productive development policy. Each side can do its part independently of the other.

Suggested Citation

  • Gustavo Crespi & Eduardo Fernández-Arias & Ernesto Stein, 2014. "Two to Tango: Public-Private Collaboration," Palgrave Macmillan Books, in: Gustavo Crespi & Eduardo Fernández-Arias & Ernesto Stein (ed.), Rethinking Productive Development, chapter 11, pages 359-389, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-39399-9_11
    DOI: 10.1057/9781137393999_11
    as

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