Punctuated equilibrium theory and enhancement of local government investment pool innovation
by Julius A. Nukpezah
International Journal of Public Sector Performance Management (IJPSPM), Vol. 7, No. 2, 2021

Abstract: This article draws on the punctuated equilibrium theory for a theoretical backdrop to examine the causes of incremental and revolutionary changes in LGIP innovations using secondary sources of information. The study finds that the adoption of LGIP innovations that are state-sponsored, local government-sponsored, and risk-averse occurred during focusing events. The second major finding is that incremental changes occurred across states over a period of time to make the LGIPs more effective and comply with unique state investment policy preferences. The study contributes to understanding how governments adapt innovations to their unique environments to reflect their preferences and how they respond to focusing events through enhancements of innovations.

Online publication date: Thu, 08-Apr-2021

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