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This article discusses innovative public goods production and organizational form selection based on a case study of the Wenzhou Private Lending Service Center, which was founded during Wenzhou’s comprehensive financial reform in 2012. We find that the local government granted a company the authority to manage the private lending registration system, which was a new type of public good. However, the company presented certain organizational characteristics of government departments in the production of public goods. Our study suggests that the production of innovative public goods is influenced by an uncertain technical environment or uncertain institutional environment. Local governments will try to reduce possible loss due to high uncertainty from both environments, an important strategy of which is choosing the organizational form that can reduce the risk in production and grasping the control rights of the operation of the organization. This article provides an analytical model for organizational form selection in a multidimensional environment.

Innovative public goods production and organizational form selection: a case study of the Wenzhou Private Lending Service Center