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A Critical Assessment of Transaction Cost Theory and Governance of Public Services with Special Reference to Water and Sanitation. / Dagdeviren, Hulya; Robertson, Simon Andrew.

In: Cambridge Journal of Economics, Vol. 40, No. 6, 06.01.2016, p. 1707-1724.

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@article{b7b4cdc376914237ad84c00b26c2bffa,
title = "A Critical Assessment of Transaction Cost Theory and Governance of Public Services with Special Reference to Water and Sanitation",
abstract = "This paper aims to provide a critical assessment of Oliver Williamson{\textquoteright}s work on the choice between public and private governance by focusing on his central proposition that public governance should be considered as an organisation of last resort when all else fails. Our primary argument is that Williamson{\textquoteright}s work on public governance reflects an underdeveloped framework, mostly focusing on sovereign administration and is not suitable for application to a host of other public services. It has the potential to corroborate any governance form which limits the usefulness of transaction cost theory (TCT) as an instrument of analysis and prediction. Although Williamson characterizes TCT as an empirical success story our application of it to the public-private dilemma for water and sanitation sector finds very little historical and contemporary validity in this view.",
keywords = "Governance , Transaction Costs, Public Services, Water and sanitation, Privatisation, Williamson",
author = "Hulya Dagdeviren and Robertson, {Simon Andrew}",
note = "This is a pre-copyedited, author-produced version of an article accepted for publication in Cambridge Journal of Economics following peer review. The version of record Hulya Dagdeviren, and Simon A. Robertson, {\textquoteleft}A critical assessment of transaction cost theory and governance of public services with special reference to water and sanitation{\textquoteright}, Cambridge Journal of Economics, Vol. 40 (6): 1707-1724, January 2016, is available online at: https://doi.org/10.1093/cje/bev079 ",
year = "2016",
month = jan,
day = "6",
doi = "10.1093/cje/bev079",
language = "English",
volume = "40",
pages = "1707--1724",
journal = "Cambridge Journal of Economics",
issn = "0309-166X",
publisher = "Oxford University Press",
number = "6",

}

RIS

TY - JOUR

T1 - A Critical Assessment of Transaction Cost Theory and Governance of Public Services with Special Reference to Water and Sanitation

AU - Dagdeviren, Hulya

AU - Robertson, Simon Andrew

N1 - This is a pre-copyedited, author-produced version of an article accepted for publication in Cambridge Journal of Economics following peer review. The version of record Hulya Dagdeviren, and Simon A. Robertson, ‘A critical assessment of transaction cost theory and governance of public services with special reference to water and sanitation’, Cambridge Journal of Economics, Vol. 40 (6): 1707-1724, January 2016, is available online at: https://doi.org/10.1093/cje/bev079

PY - 2016/1/6

Y1 - 2016/1/6

N2 - This paper aims to provide a critical assessment of Oliver Williamson’s work on the choice between public and private governance by focusing on his central proposition that public governance should be considered as an organisation of last resort when all else fails. Our primary argument is that Williamson’s work on public governance reflects an underdeveloped framework, mostly focusing on sovereign administration and is not suitable for application to a host of other public services. It has the potential to corroborate any governance form which limits the usefulness of transaction cost theory (TCT) as an instrument of analysis and prediction. Although Williamson characterizes TCT as an empirical success story our application of it to the public-private dilemma for water and sanitation sector finds very little historical and contemporary validity in this view.

AB - This paper aims to provide a critical assessment of Oliver Williamson’s work on the choice between public and private governance by focusing on his central proposition that public governance should be considered as an organisation of last resort when all else fails. Our primary argument is that Williamson’s work on public governance reflects an underdeveloped framework, mostly focusing on sovereign administration and is not suitable for application to a host of other public services. It has the potential to corroborate any governance form which limits the usefulness of transaction cost theory (TCT) as an instrument of analysis and prediction. Although Williamson characterizes TCT as an empirical success story our application of it to the public-private dilemma for water and sanitation sector finds very little historical and contemporary validity in this view.

KW - Governance

KW - Transaction Costs

KW - Public Services

KW - Water and sanitation

KW - Privatisation

KW - Williamson

U2 - 10.1093/cje/bev079

DO - 10.1093/cje/bev079

M3 - Article

VL - 40

SP - 1707

EP - 1724

JO - Cambridge Journal of Economics

JF - Cambridge Journal of Economics

SN - 0309-166X

IS - 6

ER -