Abstract

https://ssrn.com/abstract=2335911
 


 



Market Imperfections, Government Imperfections and Policy Mixes: Policy Innovations in Singapore


Xun Wu


Division of Social Science and Division of Environment; National University of Singapore - Lee Kuan Yew School of Public Policy

M. Ramesh


National University of Singapore, Lee Kuan Yew School of Public Policy

2013

Policy Sciences, Forthcoming
Lee Kuan Yew School of Public Policy Research Paper No. LKYSPP13-10

Abstract:     
Proper roles for government and market in addressing policy problems may be assessed by considering the duality between market imperfections and government imperfections. The potential of government interventions or market mechanisms as core policy instruments can be eroded by fundamental deficiencies deeply rooted in either government or market as social institutions. The impacts of such deficiencies are much more extensive than postulated by the existing theories. Analysis here, based on policy innovations in land transport and health care in Singapore, suggests how policy mixes might become the norm of response for addressing policy problems found in a range of sectors. The analytical framework presented may help to distinguish among different policy mixes according to their effectiveness, but also provides some useful guiding principles for policy design.

Number of Pages in PDF File: 31


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Date posted: October 7, 2013  

Suggested Citation

Wu, Xun and Ramesh, M., Market Imperfections, Government Imperfections and Policy Mixes: Policy Innovations in Singapore (2013). Policy Sciences, Forthcoming; Lee Kuan Yew School of Public Policy Research Paper No. LKYSPP13-10. Available at SSRN: https://ssrn.com/abstract=2335911

Contact Information

Xun Wu (Contact Author)
Division of Social Science and Division of Environment ( email )
4054 LSK, HKUST
Clear Water Bay
Hong Kong, 999999
National University of Singapore - Lee Kuan Yew School of Public Policy ( email )
Singapore 117591
Singapore

M. Ramesh
National University of Singapore, Lee Kuan Yew School of Public Policy ( email )
Singapore 117591
Singapore

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