Collaboration between the Public and Private Sectors for Urban Development

• Main Author: PHANG, Sock-Yong
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2010
• Subjects: Asian Studies; Growth and Development; Urban Studies and Planning
• Online Access: https://ink.library.smu.edu.sg/soe_research/1182; https://ink.library.smu.edu.sg/context/soe_research/article/2181/viewcontent/Collaboration_PublicPrivateSectorsUrbanDevt_2010.pdf
• Institution: Singapore Management University

In market economies, the government acts in many ways. In traditional public finance literature, the government taxes and provides public and merit goods. In addition, it regulates the behaviour of firms and individuals. In the context of market failures such as natural monopoly, high risk situations or long life projects, the government may choose to act as producer. In the past two decades, however, public sector collaboration with the private sector to achieve socio-economic objectives has become widely utilised as a method for the provision of the myriad of services that has come to be expected of governments.