Supply of Publicly Financed Services: Market and Non-Market Failures
Supply of Publicly Financed Services: Market and Non-Market Failures
Author(s): Evgenia Penkova, Denitsa Gorchilova, Alexander ValkovSubject(s): Economy, National Economy, Public Finances, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: publicly financed services; market and nonmarket failures; public and private supply
Summary/Abstract: The article discusses the characteristics of the publicly financed healthcare, educational and social services with a special focus on their market and non-market failures. Traditional failures like informational asymmetry, incomplete market and territorial misbalances are tested. It becomes evident that those failures manifest not only in the cases of private supply, but also in the public sector. On the contrary, non-market failures become features of the private supply.
Journal: Годишник на УНСС
- Issue Year: 2019
- Issue No: 1
- Page Range: 9-18
- Page Count: 9
- Language: English