Description
Book SynopsisIn recent decades, local government has become increasingly complex.
The Political Economy of Local Government draws upon recent developments in economics, including new institutional economics, and contemporary advances in the theories of social capital and leadership, in order to explain local government policy formulation.
The authors go beyond the study of local public goods to explore the sources of market failure and examine whether local authorities are more susceptible to certain types of government failure. In addition, a transaction cost analysis of markets, hierarchies and networks is applied to ascertain the comparative institutional advantage local authorities might have in the supply of local governance. The book also considers the extent of the influence that these recent advances in the theories of social capital and leadership have on the process and implementation of local government policy.
This book offers a fresh and readily accessible perspective on the political economy of local government policy making, and will be of particular interest to students and practitioners of economics, political science, public administration, policy studies and local government.
Trade Review'The authors raise a wide range of thoughts for further analysis, and their book should be seen as a valuable - and indeed invaluable - catalyst for further study.' -- David N. King, The Economic Journal
Table of ContentsContents: Preface 1. Introduction 2. Market Failure and Local Government 3. Government Failure and Local Government 4. The Empirical Measurement of Local Government Efficiency 5. New Institutional Economics and Alternative Mechanisms of Local Governance 6. The Political Economy of Local Government Reform 7. A Case Study of Local Government Reform in New Zealand 8. Conclusion References Index
