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Don’t bite the hand that feeds you: the cost of poor governance

In: The Public Wealth of Nations

Author

Listed:
  • Dag Detter
  • Stefan Fölster

Abstract

Anyone flying from an American airport to any of the many newly built airports in Asia, or even some of the privately held airports in Europe, cannot help but notice a remarkable diference. The shoddy appearance of many American airports is not, in fact, a sign of thrift. Quite the opposite. Nearly all major US airports are owned by state or local governments that receive federal governmental subsidies for renovation and expansion. This mixing of responsibilities is in itself an obstacle to efficient management. But it does not stop there. Numerous federal roadblocks make cities hesitant to privatize. For example, government-owned airports can issue tax-exempt debt, which gives them a financial advantage over potential private competitors.

Suggested Citation

  • Dag Detter & Stefan Fölster, 2015. "Don’t bite the hand that feeds you: the cost of poor governance," Palgrave Macmillan Books, in: The Public Wealth of Nations, chapter 0, pages 16-29, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-51986-3_2
    DOI: 10.1057/9781137519863_2
    as

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