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Regulation and Public-Private Partnerships

By Nutavoot Pongsiri


INTRODUCTION As a result of the development of the free-market economy, most countries are engaged in radical changes, not only in their economic functions, but also in the characteristics and the respective roles of the state and the private sector. The traditional concept of an autonomous private sector acting in pursuit of its own immediate goals, notably profit maximisation, and a public sector with discretionary powers and multiple objectives that relate to the pursuit of long term goals in the public interest, has been challenging. This concept apparently no longer reflects the dynamics and interdependencies of economics and social environment. Murray (1975) asserts that the changing situation seems to be evolving toward a mixture of public-private and government-market decision making with a blurring of the lines rather than a distinct bifurcation of responsibilities. Presently, a concept of co-operation between public and private sectors to form an inter-organisational partne

Year: 2001
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