The Experts below are selected from a list of 71031 Experts worldwide ranked by ideXlab platform
Brian Dollery - One of the best experts on this subject based on the ideXlab platform.
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building the education revolution another case of australian Government Failure
International Journal of Public Administration, 2014Co-Authors: Chris Lewis, Brian Dollery, Michael A KorttAbstract:Since the 2007 federal election, the Australian Government has implemented a plethora of new programs, many with dual economic and social objectives. A significant number of these initiatives have not only proved unsuccessful, but have also been criticized for their implementation and subsequent administration. This paper examines the Building Education Revolution Program, which commenced in 2009 with the objective of stimulating employment growth and improving school infrastructure, through the analytical prism of the Government Failure paradigm as well as the literature on “hollowing out” and decentralization. It is argued that the BER Program represents a “case study” of how Governments should not pursue large-scale public expenditure programs.
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funding the future financial sustainability and infrastructure finance in australian local Government
2013Co-Authors: Brian Dollery, Michael A Kortt, Bligh GrantAbstract:Part A: Australian Fiscal Federalism and Australian Local Government Australian Fiscal Federalism Introduction The Australian federal system of Government Public finance Vertical fiscal imbalance Horizontal fiscal equalisation Concluding remarks Australian Local Government Finance Introduction Local Government expenditure Local Government revenue Financial Assistance Grants Concluding remarks Part B: Financial Sustainability and Australian Local Government Public Perspectives on Financial Sustainability Introduction Financial reform and financial sustainability Policy and practice implications for financial sustainability Holistic Sustainability in Australian Local Government Introduction Meaning of sustainability Tensions between local Government democracy and local Government efficiency Academic approaches to sustainability in local Government Local Government Failure Holistic sustainability in local Government Concluding remarks Part C: Financing Australian Local Government Infrastructure Australian Local Government Finance Introduction Commonwealth infrastructure funding of local Government Concluding remarks Commonwealth Government Infrastructure Fund Introduction Roads to Recovery and the nation building economic stimulus plan The case for a Commonwealth asset fund Evaluation Concluding remarks Municipal Bond Markets Introduction Local infrastructure renewal in New South Wales US municipal infrastructure finance Rationale for asset-backed securities Asset-backed securities by local water utilities Concluding remarks An Australian Local Government Bond Bank Introduction Municipal banking Municipal bond banks Case studies Concluding remarks
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the home insulation program an example of australian Government Failure
Australian Journal of Public Administration, 2012Co-Authors: Michael A Kortt, Brian DolleryAbstract:The public concern surrounding the Australian Government Home Insulation Program (HIP) continues despite the abrupt termination of the program in the light of its deleterious safety consequences and fiscally wasteful management. This enduring unease has been reflected in a variety of official inquiries and reports including the Hawke Review (2010), an inquiry by the Senate Environment, Communications and the Arts References Committee (2010), a performance audit by the Commonwealth Auditor-General (2010) and two Departmental annual reports (DCCEE 2010; DEWHA 2010). Taking into account this body of evidence, we argue that the HIP represents an example of Government Failure, which, in turn, led to a range of unintended ‘human costs’ including the tragic deaths of four young installation workers. Moreover it is also argued that, in future, programs like the HIP are best administered by state/territory and local Governments which are often best placed to deliver ‘on the ground’ services.
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australian federal Government Failure the rise and fall of the home insulation program
Economic Papers: A journal of applied economics and policy, 2010Co-Authors: Brian Dollery, Martin HoveyAbstract:Controversy surrounded the recent ill-fated Commonwealth Government’s Home Insulation Program (HIP) from the outset and continues after the HIP was abruptly halted. Public disquiet has been aroused not only by the death and injury which has resulted from the HIP, but also the perceived waste of public funds. Drawing on the Hawke Review (2010) of the HIP, this article examines the HIP through the analytical lenses of the Government Failure paradigm as well as the literature on decentralisation and economic efficiency. It is argued that the HIP represents a “case study” of how Governments should not pursue public expenditure programmes.
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the political economy of the voluntary sector a reappraisal of the comparative institutional advantage of voluntary organizations
2003Co-Authors: Brian Dollery, Joe WallisAbstract:Voluntary organizations as a response to market Failure and Government Failure supply-side theories of nonprofit organizations leadership and nonprofit organizations social capital and the voluntary sector with Paul Killerby public policy approaches to the voluntary sector public policy towards the voluntary sector.
Peter J Boettke - One of the best experts on this subject based on the ideXlab platform.
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hayek s the road to serfdom revisited Government Failure in the argument against socialism
2016Co-Authors: Peter J BoettkeAbstract:"market Failure" arguments that have emerged from mainstream neoclassical economics. Hayek's argument is analytically weak and rhetorically vapid, and as a result, Higgs concludes, we should not expect Hayek's argument to convince anyone who is not already deeply sympathetic to the Hayekian position. I single Higgs out not because his discussion represents an egregious example of misreading of Hayek's work, but because he reflects a general opinion among promarket intellectuals concerning Hayek's analytical apparatus.1 In other words, while many individuals may nod to Hayek's valiant fight against socialism and in organizing an international resurgence of classical liberal political economy (especially with his efforts relating to the Mont Pelerin Society), the belief is that he failed to address not only the revisions of socialist economic theory through the years (say post-Lange market socialist models of the kind proposed by Leonid Hurwicz or the models of workers' self-management of the type developed by Jaroslav Vanek), but also the various subtle arguments for interventionism (neo-Keynesianism and market Failure theory) that had developed in the post- World War II years. Even more damning is Hayek's supposed ignorance of pro-market developments in economic science, such as property-rights and transaction cost theory, law and economics, monetarism, New
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saving Government Failure theory from itself recasting political economy from an austrian perspective
Social Science Research Network, 2010Co-Authors: Peter J Boettke, Christopher J. Coyne, Peter T LeesonAbstract:The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of Government Failure. However, the persistent and consistent application of neoclassical models of economics also seemed to suggest that once the full costs were accounted for, this Failure was an illusion. This paper counters these arguments associated with George Stigler, Gary Becker and more recently Donald Wittman, at the core of the economic theory that underlies their approach. In contrast, we develop an alternative model of political economy grounded in the Austrian conception of the dynamic market process.
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Saving Government Failure theory from itself: recasting political economy from an Austrian perspective
Constitutional Political Economy, 2007Co-Authors: Peter J Boettke, Christopher J. Coyne, Peter T LeesonAbstract:The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of Government Failure. However, the persistent and consistent application of neoclassical models of economics also seemed to suggest that once the full costs were accounted for, this Failure was an illusion. This paper counters these arguments, typically associated with George Stigler, Gary Becker and Donald Wittman, by focusing on the underlying economic theory. We develop an alternative model of political economy grounded in the Austrian conception of the dynamic market process.
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calculation and coordination essays on socialism and transitional political economy
2000Co-Authors: Peter J BoettkeAbstract:1: Why no Austrian Socialists? 1A Appendix: Is economics a moral science? Part I - The Theoretical Framework 2: Economic calculation: The Austrian contribution to political economy 3: Hayek's The Road to Serfdom revisited: Government Failure in the argument against socialism 4: Coase, communism and inside the 'Black Box' of soviet-type economies Part II - History and practice of real existing socialism 5: The soviet experience with pure communism 5A Appendix: The Soviet experience with pure communism: Rejoinder to Nove 6: The political economy of Utopia: Communism in Soviet Russia, 1918-1921 7: Soviet venality: A rent-seeking model of the communist system Part III - Realism and Reform 8: Credibility, commitment and soviet economic reform 9: Perestroika and public choice: The economics of autocratic succession in a rent-seeking society 10: The reform trap in economics and politics in the former communist economies 11: Promises made and promises broken in the Russian transition 12: The Russian crisis: Perils and prospects for Post-soviet transition 13: The political infrastructure of economic development 13A Appendix: The argument applied to Post-Perestroika Russia Part IV - Political economy and the fate of economies 14: Why culture matters: economics, politics and the imprint of history 15: Concluding remarks 15A Appendix A: Economic freedom and economic growth 15B Appendix B: Economic growth and human well-being
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Hayek's the Road to Serfdom Revisited: Government Failure in the Argument Against Socialism
Eastern Economic Journal, 1995Co-Authors: Peter J BoettkeAbstract:Karl Marx perhaps the most astute student of economic doctrine, once made the famous and apposite observation that in substantial passages of "The Wealth of Nations" Adam Smith "was very copiously infected with the conceptions of the Physiocrats." In parallel fashion this paper agues that in substantial portions of "The General Theory," J. M. Keynes was a mere Gesellist, particularly but not uniquely, in his expressions of political philosophy vis-a-vis the relationship between state and economy.
Peter T Leeson - One of the best experts on this subject based on the ideXlab platform.
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saving Government Failure theory from itself recasting political economy from an austrian perspective
Social Science Research Network, 2010Co-Authors: Peter J Boettke, Christopher J. Coyne, Peter T LeesonAbstract:The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of Government Failure. However, the persistent and consistent application of neoclassical models of economics also seemed to suggest that once the full costs were accounted for, this Failure was an illusion. This paper counters these arguments associated with George Stigler, Gary Becker and more recently Donald Wittman, at the core of the economic theory that underlies their approach. In contrast, we develop an alternative model of political economy grounded in the Austrian conception of the dynamic market process.
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Saving Government Failure theory from itself: recasting political economy from an Austrian perspective
Constitutional Political Economy, 2007Co-Authors: Peter J Boettke, Christopher J. Coyne, Peter T LeesonAbstract:The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of Government Failure. However, the persistent and consistent application of neoclassical models of economics also seemed to suggest that once the full costs were accounted for, this Failure was an illusion. This paper counters these arguments, typically associated with George Stigler, Gary Becker and Donald Wittman, by focusing on the underlying economic theory. We develop an alternative model of political economy grounded in the Austrian conception of the dynamic market process.
Francesco Crespi - One of the best experts on this subject based on the ideXlab platform.
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the matthew effect in r d public subsidies the italian evidence
Technological Forecasting and Social Change, 2013Co-Authors: Cristiano Antonelli, Francesco CrespiAbstract:Abstract This paper explores the causes and effects of persistence in the discretionary allocation of public subsidies to R&D activities performed by private firms and elaborates a crucial distinction between vicious Matthew-effects and virtuous Matthew-effects. The latter identifies the role of dynamics increasing returns based upon accumulation of competence stemming from learning, learning to learn and knowledge cumulability. On the contrary vicious Matthew-effects lead to the substitution of private funds with public ones and represent an additional source of ‘Government Failure’ which has not been specifically addressed by previous literature. The empirical results show that past grants increase the probability to access further funding. Both the descriptive and econometric evidences confirm the persistent character of R&D subsidies, providing indication that some mechanisms related to a Matthew effect is at work for the observed firms. Moreover, the results suggest that the stable pattern in the access to R&D public subsidies by firms is associated with a ‘picking the winner’ strategy adopted by public authorities, which, positively contributed to the effectiveness of the policy instrument.
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the matthew effect in r d public subsidies the italian evidence
Research Papers in Economics, 2011Co-Authors: Cristiano Antonelli, Francesco CrespiAbstract:Public policy plays a key role in supporting R&D activities and a variety of policy tools have been applied to contrast the undersupply of technological knowledge including the provision of subsidies to private firms performing R&D activities. A large literature has identified the sources of ‘Government Failures’ in discretionary procedures in problems related to asymmetric information and the operation of interest groups. This paper explores the causes and effects of persistence in the discretionary allocation of public subsidies to R&D activities performed by private firms and elaborates a crucial distinction between vicious Matthew-effects and virtuous Matthew-effects. The latter identifies the role of dynamics increasing returns based upon accumulation of competence stemming from learning, learning to learn and knowledge cumulability. On the contrary vicious Matthew-effects lead to substitution of private funds with public ones and represent an additional source of ‘Government Failure’ which has not been specifically addressed by previous literature. The empirical analysis based upon Transition Probability Matrices, Probit regression and Propensity Score Matching tested the relevance of these arguments on a sample of about 750 Italian firms in the years 1998-2003. Our results show that the persistence in the discretionary allocation of public subsidies is relevant and that virtuous Matthew-effects prevail when a ‘picking the winner strategy’ is adopted by granting authorities. We conclude that while the decision to rely on discretionary incentives based on beauty context selection procedures may imply relevant costs, their benefits can be increased by pursuing a ‘picking the winner strategy
Christopher J. Coyne - One of the best experts on this subject based on the ideXlab platform.
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economists have no defense a critical review of national defense in economics textbooks
2016Co-Authors: Christopher J. Coyne, David S LucasAbstract:National defense is the textbook example of a public good. In order to understand how economists present public goods to undergraduates, we analyze 50 texts from across three widely taught undergraduate economics courses: principles of economics, intermediate microeconomics, and public finance. We find that textbooks overwhelmingly present national defense as a public good and rarely mention the possibility of Government Failure. This leaves students with an incomplete and biased exposure to the Government provision of public goods. We reconsider some of the main assumptions associated with the standard treatment of national defense as the quintessential public good and discuss opportunities for educators to better prepare students as economists and citizens.
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saving Government Failure theory from itself recasting political economy from an austrian perspective
Social Science Research Network, 2010Co-Authors: Peter J Boettke, Christopher J. Coyne, Peter T LeesonAbstract:The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of Government Failure. However, the persistent and consistent application of neoclassical models of economics also seemed to suggest that once the full costs were accounted for, this Failure was an illusion. This paper counters these arguments associated with George Stigler, Gary Becker and more recently Donald Wittman, at the core of the economic theory that underlies their approach. In contrast, we develop an alternative model of political economy grounded in the Austrian conception of the dynamic market process.
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Saving Government Failure theory from itself: recasting political economy from an Austrian perspective
Constitutional Political Economy, 2007Co-Authors: Peter J Boettke, Christopher J. Coyne, Peter T LeesonAbstract:The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of Government Failure. However, the persistent and consistent application of neoclassical models of economics also seemed to suggest that once the full costs were accounted for, this Failure was an illusion. This paper counters these arguments, typically associated with George Stigler, Gary Becker and Donald Wittman, by focusing on the underlying economic theory. We develop an alternative model of political economy grounded in the Austrian conception of the dynamic market process.
