This paper provides a critical analysis of the recent developments in the incomplete contracts theory and its conclusions for privatisation of public services. Drawing on a case study of management contract for urban water services in Ghana and highlighting the flaws in the theory, the article...

Privatization of electricity has been extensive both in the developed and the developing world. Failures in various areas have led to the emergence of a new consensus which regards competitive pressures and regulation as crucial for utility privatizations to work. This review paper presents a...