Understanding and Creating Public Value: Business is the engine, government the flywheel (and also the regulator)

REFERENCES

• Andersen, S. C. and Mortensen, P. B. (2010) Policy Stability and Organizational Performance: Is There a Relationship? Journal of Public Administration Research and Theory, 20:1 pp1–22.
   Web of Science ®Google Scholar
• Barzelay, M. (2001) The New Public Management: Improving Research and Policy Dialogue, Berkeley, CA: University of California Press.
   Google Scholar
• Barzelay, M. (2007) Learning from Second-Hand Experience: Methodology for Extrapolation-Oriented Case Research. Governance, 20:3 pp521–43.
   Web of Science ®Google Scholar
• Barzelay, M. and Thompson, F. (2006) Responsibility Budgeting in the Air Force Materiel Command. Public Administration Review, 66:1 pp127–38.
   Web of Science ®Google Scholar
• Barzelay, M. and Thompson, F. (2010) Back to the Future: Making Public Administration a Design Science. Public Administration Review, 70:Special Issue pps295–s297.
   Google Scholar
• Bellante, D. and Link, A. N. (1981) Are Public Sector Workers More Risk Averse than Private Sector Workers? Industrial and Labor Relations Review, 34:3 pp408–12.
   Web of Science ®Google Scholar
• Bhattacharyya, S. (2011) Growth Miracles and Growth Debacles: Exploring Root Causes, Cheltenham: Edward Elgar.
   Google Scholar
• Bozeman, B. (1987) All Organizations Are Public: Bridging Public and Private Organizational Theories, San Francisco, CA: Jossey-Bass.
   Google Scholar
• Bozeman, B. (2002) Public‐Value Failure: When Efficient Markets May Not Do. Public Administration Review, 62:2 pp145–61.
   Web of Science ®Google Scholar
• Breton, A. (1977) The Theory of Local Government Finance and the Debt Regulation of Local Governments. Public Finance – Finances Publiques, 32:1 pp16–28.
   Google Scholar
• Breton, A. (1996) Competitive Governments: An Economic Theory of Politics and Public Finance, New York: Cambridge University Press.
   Google Scholar
• Bryson, J. M. (2004) What to Do When Stakeholders Matter: Stakeholder Identification and Analysis Techniques. Public Management Review, 6:1 pp21–53.
   Google Scholar
• Buiter, W. (1990) Principles of Budgetary and Financial Policy, Cambridge MA: MIT Press.
   Google Scholar
• Chai, S.-K., Dorj, D., Hampton, K. and Liu, M. (2011) The Role of Culture in Public Goods and Other Experiments. PS: Political Science & Politics, 44:4 pp740–4.
   Web of Science ®Google Scholar
• Covaleski, M. A., Evans III, J. H., Luft, J. L. and Shields, M. D. (2003) Budgeting Research: Three Theoretical Perspectives and Criteria for Selective Integration. Journal of Management Accounting Research, 15:1 pp3–49.
   Google Scholar
• Diewert, I., Lawrence, D. A. and Thompson, F. (1998) ‘The Marginal Costs of Taxation and Regulation’ in F. Thompson and M. Green (eds) Handbook of Public Finance. New York: Dekker, pp135–73.
   Google Scholar
• Dothan, M. and Thompson, F. (2009a) A Better Budget Rule. Journal of Policy Analysis and Management, 28:3 pp463–78.
   Web of Science ®Google Scholar
• Dothan, M. and Thompson, F. (2009b) Optimal Budget Rules: A Proof, Given a Random Walk with Drift. Public Finance and Management, 9:3 pp439–69.
   Google Scholar
• Ellis, R. E. and Thompson, F. (1997) Culture and Environment in the Pacific Northwest. American Political Science Review, 91:4 pp885–97.
   Web of Science ®Google Scholar
• Fielding, E., Lo, A. W. and Yang, J. H. (2011) The National Transportation Safety Board: A Model for Systemic Risk Management. Journal of Investment Management, 9:1 pp17–49.
   Google Scholar
• Fischel, W. A. (2009) Making the Grade: The Economic Evolution of American School Districts, Chicago, IL: University of Chicago Press.
   Google Scholar
• Frederickson, H. G. (2010) Social Equity and Public Administration: Origins, Developments, and Applications, Armonk, NY: M.E. Sharpe.
   Google Scholar
• Friedman, M. (1970) The Social Responsibility of Business Is to Increase Its Profits. New York Times Magazine, 13 September, pp32–33, 122, 124, 126.
   Google Scholar
• Friedrich, C. J. (1940) Public Policy and the Nature of Administrative Responsibility. Public Policy, 1 pp3–24.
   Google Scholar
• Frum, D. (1994) Dead Right, New York: Basic Books.
   Google Scholar
• Gastil, J., Braman, D., Kahan, D. and Slovic, P. (2011) The Cultural Orientation of Mass Political Opinion. PS: Political Science & Politics, 44:4 pp711–14.
   Web of Science ®Google Scholar
• Hacker, J. S. (2007) The Great Risk Shift: The New Economic Insecurity and the Decline of the American Dream, New York: Oxford University Press.
   Google Scholar
• Hammitt, J. K., Belsky, E. S., Levy, J. I. and Graham, J. D. (1999) Residential Building Codes, Affordability, and Health Protection: A Risk-Tradeoff Approach. Risk Analysis, 19:6 pp1037–58.
   PubMed Web of Science ®Google Scholar
• Hefetz, A. and Warner, M. E. (2012) Contracting or Public Delivery? The Importance of Service, Market, and Management Characteristics. Journal of Public Administration Research & Theory, 22:2 pp289–317.
   Web of Science ®Google Scholar
• Hochman, H. M. and Rodgers, J. D. (1969) Pareto Optimal Redistribution. The American Economic Review, 59:4 Part 1 pp542–57.
   Web of Science ®Google Scholar
• Holzmann, R., Sherburne-Benz, L. and Tesliuc, E. (2003) Social Risk Management: The World Bank’s Approach to Social Protection in a Globalizing World, Washington, DC: The World Bank.
   Google Scholar
• Hood, C. (1991) A Public Management for All Seasons? Public Administration, 69:1 pp3–19.
   Web of Science ®Google Scholar
• Hood, C. and Jackson, M. (1991) Administrative Argument, London: Dartmouth.
   Google Scholar
• Jones, M. D. (2011) Leading the Way to Compromise? Cultural Theory and Climate Change Opinion. PS: Political Science & Politics, 44:4 pp720–5.
   Web of Science ®Google Scholar
• Jørgensen, T. B. and Bozeman, B. (2002) Public Values Lost? Comparing Cases on Contracting Out From Denmark and the United States. Public Management Review, 4:1 pp63–81.
   Google Scholar
• Judt, T. and Božić, K. (2010) The Way Things Are and How They Might Be. London Review of Books, 32:6 (25 March) pp11–26.
   Google Scholar
• Keeney, R. L. (1997) Estimating Fatalities Induced by the Economic Costs of Regulations. Journal of Risk and Uncertainty, 14:1 pp5–23.
   Web of Science ®Google Scholar
• Kim, W. (2007) Social Risk and Social Insurance: Political Demand for Unemployment Insurance. Rationality and Society, 19:2 pp229–54.
   Web of Science ®Google Scholar
• Krugman, P. (2010) Fiscal Fantasies. New York Times, 8 April, p23.
   Google Scholar
• Kunreuther, H. and Pauly, M. V. (2005) Insurance Decision-Making and Market Behavior. Foundations and Trends in Microeconomics, 1:2 pp63–127.
   Google Scholar
• Lo, A. W. (1999) The Three P’s of Total Risk Management. Financial Analysts Journal, 55:1 pp13–26.
   Google Scholar
• Lo, A. W. and Mueller, M. T. (2010) WARNING: Physics Envy May Be Hazardous to Your Wealth, Journal of Investment Management, 8:2 pp1–71. Available at http://hdl.handle.net/1721.1/66315
   Google Scholar
• Lockhart, C. (2011) Specifying the Cultural Foundations of Consensual Democratic Institutions. PS: Political Science & Politics, 44:4 pp731–5.
   Web of Science ®Google Scholar
• Lodge, M. and Wegrich, K. (2011) Arguing About Financial Regulation: Comparing National Discourses on the Global Financial Crisis. PS: Political Science & Politics, 44:4 pp726–30.
   Web of Science ®Google Scholar
• Lucas, R. E. (2003) Macroeconomic Priorities. American Economic Review, 93:1 pp1–14.
   Web of Science ®Google Scholar
• Mathur, I., Singh, M., Thompson, F. and Nejadmalayeri, A. (2013) Corporate Governance and Lobbying Strategies. Journal of Business Research, 66:4 pp547–53.
   Web of Science ®Google Scholar
• Meyers, R. T. (1998) Regulatory Budgeting: A Bad Idea Whose Time Has Come? Policy Sciences, 31:4 pp371–84.
   Web of Science ®Google Scholar
• Mirrlees, J., Adam, S., Besley, T., Blundell, R., Bond, S., Chote, R., Gammie, P., Johnson, P., Myles, G. and Poterba, J. (2012) The Mirrlees Review: A Proposal for Systematic Tax Reform. National Tax Journal, 65:3 pp655–84.
   Web of Science ®Google Scholar
• Moore, M. and Hartley, J. (2008) Innovations in Governance. Public Management Review, 10:1 pp3–20.
   Web of Science ®Google Scholar
• Moore, M. H. (1995) Creating Public Value: Strategic Management in Government, Cambridge, MA: Harvard University Press.
   Google Scholar
• Moss, D. A. (2004) When All Else Fails: Government as the Ultimate Risk Manager, Cambridge MA: Harvard University Press.
   Google Scholar
• O’Flynn, J. (2007) From New Public Management to Public Value: Paradigmatic Change and Managerial Implications. Australian Journal of Public Administration, 66:3 pp353–66.
   Web of Science ®Google Scholar
• O’Toole Jr., L. J. and Meier, K. J. (2012) Public Management: Organizations, Governance, and Performance, New York: Cambridge University Press.
   Google Scholar
• Patashnik, E. M. (1996) The Contractual Nature of Budgeting: A Transaction Cost Perspective on the Design of Budgeting Institutions. Policy Sciences, 29:3 pp189–212.
   Web of Science ®Google Scholar
• Perry, J. L. and Rainey, H. G. (1988) The Public–Private Distinction in Organization Theory: A Critique and Research Strategy. The Academy of Management Review, 13: pp182–201.
   Web of Science ®Google Scholar
• Pfeifer, C. (2012) Risk Aversion and Sorting Into Public Sector Employment. German Economic Review, 12:1 pp85–99.
   Web of Science ®Google Scholar
• Ramey, G. and Ramey, V. A. (1995) Cross-Country Evidence on the Link between Volatility and Growth. The American Economic Review, 85:9 pp1138–51.
   Google Scholar
• Ripberger, J. T., Jenkins-Smith, H. C. and Herron, K. G. (2011) How Cultural Orientations Create Shifting National Security Coalitions on Nuclear Weapons and Terrorist Threats in the American Public. PS: Political Science & Politics, 44:4 pp715–19.
   Web of Science ®Google Scholar
• Schön, D. A. (1983) The Reflective Practitioner: How Professionals Think in Action, New York: Basic Books.
   Google Scholar
• Shaw, R. (2013) Another Size Fits All? Public Value Management and Challenges for Institutional Design, Public Management Review, 15:4 pp477–500.
   Web of Science ®Google Scholar
• Shepsle, K. A. and Weingast, B. R. (2012) Why so Much Stability? Majority Voting, Legislative Institutions, and Gordon Tullock. Public Choice, 152: pp83–95.
   Web of Science ®Google Scholar
• Shiller, R. J. (1998) Macro Markets: Creating Institutions for Managing Society’s Largest Economic Risks, New York: Oxford University Press.
   Google Scholar
• Stoker, G. (2006) Public Value Management a New Narrative for Networked Governance? The American Review of Public Administration, 36:1 pp41–57.
   Web of Science ®Google Scholar
• Swedlow, B. (2011a) A Cultural Theory of Politics. PS: Political Science & Politics, 44:4 pp703–10.
   Web of Science ®Google Scholar
• Swedlow, B. (2011b) Cultural Surprises as Sources of Sudden, Big Policy Change. PS: Political Science & Politics, 44:4 pp736–9.
   Web of Science ®Google Scholar
• Terry, L. D. (2002) Leadership of Public Bureaucracies: The Administrator as Conservator, New York: ME Sharpe.
   Google Scholar
• Thompson, F. (1997) Toward a Regulatory Budget. Public Budgeting & Finance, 17:1 (Spring) pp89–98.
   Google Scholar
• Thompson, F. and Gates, B. (2007) Betting on the Future with a Cloudy Crystal Ball? Public Administration Review, 67:5 (September–October) pp825–36.
   Web of Science ®Google Scholar
• Thompson, M., Ellis, R. E. and Wildavsky, A. B. (1990) Cultural Theory, Boulder, CO: Westview Press.
   Google Scholar
• Thompson, M., Grendstad, G. and Selle, P. (1999) Cultural Theory as Political Science, New York: Routledge.
   Google Scholar
• Viscusi, W. K. (1994) Mortality Effects of Regulatory Costs and Policy Evaluation Criteria. The RAND Journal of Economics, 25:1 pp94–109.
   Web of Science ®Google Scholar
• Whitford, A. B. (2003) ‘Adapting Agencies: Competition, Imitation, and Punishment in the Design of Bureaucratic Performance’ in G. Krause and K. J. Meier (eds) Politics, Policy and Organizations: Essays on the Scientific Study of Bureaucracy. Ann Arbor, MI: University of Michigan Press, pp160–86.
   Google Scholar
• Wildavsky, A. B. (1980) Richer Is Safer. Public Interest, 60:1 pp23–39.
   Google Scholar
• Wildavsky, A. B. (1981) Richer Is Safer. Financial Analysts Journal, 37:2 pp19–22.
   Google Scholar