Investopedia, reference below, defines a quasi-public corporation as a type of corporation in the private sector that is backed by a branch of government that has a public mandate to provide a given service.
Investopedia notes that:
“Most quasi-public corporations began as government agencies, but have since become separate entities. It is not uncommon to see the shares of this type of corporation trade on major stock exchanges, which allows individual investors to gain exposure to the company’s profit. For example, the Federal National Mortgage Association (Fannie Mae) is regarded as a quasi-public corporation because it operates as an independent corporation. This company operates under a congressional charter that aims to increase the availability and affordability of homeownership, but is not treated as any part of the government. Contrary to popular opinion, employees of quasi-public corporations do not work for the government.”
Quasi-public institutions can include public companies of an industrial and commercial character, nationalized companies, and companies with majority public shareholding. Quasi-public institutions are considered to be a policy tool because they can, in certain cases, operate with fewer restrictions and greater cost effectiveness than normal public institutions.
Topic, subject and Atlas course
Investopedia, Quasi-Public Corporation, at http://www.investopedia.com/terms/q/quasi_public_corporation.asp, accessed 20 October 2016.
Page created by: Ian Clark, last modified on 20 October 2016.
Image: OECD, The Innovation Imperative in the Public Sector, at http://www.oecd-ilibrary.org/governance/the-innovation-imperative-in-the-public-sector_9789264236561-en, accessed 19 August 2016.