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Investigating a real-options approach to modelling public policy investments, and implications for public administration

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thesis
posted on 02.08.2021, 01:17 by Butler, Callum

This thesis investigates the application of real-options modelling to policy investment coordination problems across government departments, with the aim of informing high-level institutional and system design choices in public administration. This analysis is motivated by recent and ongoing reforms to the legislative framework underpinning New Zealand's public service which, unlike the last major public administration reforms of the 1980s, are not expressly driven by or obviously supported by economic theory. We find that a simple real-options framework allows for a compelling illustration of the coordination problems that the current reforms are in part aiming to solve, and supports analysis of the types of mechanism that might be employed to address them. Such mechanisms include the promotion of structural integration, the broadening or alignment of departmental policy objectives, a relaxation of public finance restrictions, and joint decision-making over policy investments.

History

Advisor 1

Guthrie, Graeme

Advisor 2

Calcott, Paul

Copyright Date

02/08/2021

Date of Award

02/08/2021

Publisher

Victoria University of Wellington - Te Herenga Waka

Rights License

Author Retains Copyright

Degree Discipline

Economics

Degree Grantor

Victoria University of Wellington - Te Herenga Waka

Degree Level

Masters

Degree Name

Master of Arts

ANZSRC Type Of Activity code

1 PURE BASIC RESEARCH

Victoria University of Wellington Item Type

Awarded Research Masters Thesis

Language

en_NZ

Victoria University of Wellington School

School of Economics and Finance