Synonyms
Definition
Independent regulatory agency refers to a specialized government organ that supervises the entry of private sectors in traditionally state-managed sectors, fixes standards, and oversees activities of partners in order to ensure that terms of the contract are strictly followed and success achieved.
Introduction
Public-private partnership (PPP) is a government-sponsored initiative where a government agency collaborates with the private sector to provide quality infrastructures and services to the people through long-term concessions or short-term service contracts. The risks of providing facilities and services in PPPs are equitably shared between public and private sector organizations (Busch and Austen 2012; Mahalingam et al. 2011, pp. 341–372; Ciccone 2010, pp. 48–51; Forrer et al. 2010, p. 476). Through PPPs, governments harness private sector expertise to bring maximum efficiency and...
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Nwokorie, E.C. (2016). Independent Regulatory Agencies in Coordination of Public-Private Partnerships and Other Economic Institutions. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2616-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_2616-1
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