The Private Sector in Development

Over the years, the term private sector development has been misunderstood and misconstrued – variously villified and sanctified. During the decade of the 1990s, the role of the private sector in economic development received increasing attention, with controversy surrounding such issues as privatization and corporate scandals. This text provides a comprehensive treatment of the topic. Central to this discussion is the design of public policy that promotes an appropriate balance between competition and regulation. The book places special emphasis on the means by which private initiative is channelled into socially useful directions, particularly job creation and basic service delivery for poor people. Finally, it explores the implications of private sector involvement for policies of development institutions. Written principally for policymakers and their advisers, this volume explores thoroughly the challenges inherent in creating public policy that encourages and enhances the development role of the private sector.