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quasi-market (L3)<br />An attempt in the public sector to introduce market discipline. In the UK in the 1980s this principle was applied to the contracting out of catering and cleaning and through the !NTERNAL MARKET in the National Health Service, and in the universities where they had to bid for funds from funding councils. This market is different from a conventional market in that consumers effect their purchases using vouchers or by agents. Also non-profitmaking public organizations compete with traditional profit-making firms.<br /><em>Reference</em><br />Le Grand, J. (1991) 'Quasi-markets and social policy', Economic Journal 101: 1256 - 67.
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Asian Development Bank (G2)<br />Bank founded in 1966 with capital provided by Asian countries, the USA, Canada, the UK and West Germany on the recommendation of the United Nations Economic Commission for Asia and the Far East. It covers half of the world's population. It is based in Manilla, the Philippines, and is dominated by the Japanese, the largest contributor of its capitaL Its conservative lending policy has chiefly favoured loans for specific projects, e.g. to build ports, roads and bridges, rather than sectoral lending to restructure troubled economies. It has increased its lending to the private sector and has a joint venture with commercial banks, the Asian Finance and Investment Corporation (AFIC).
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