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The Institutional Transition of China's Township and Village Enterprises - Market Liberalization, Contractual Form Innovation and Privatization (Paperback)
Loot Price: R791
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The Institutional Transition of China's Township and Village Enterprises - Market Liberalization, Contractual Form Innovation and Privatization (Paperback)
Series: The Chinese Trade and Industry Series
Expected to ship within 12 - 17 working days
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This title was first published in 2000. This work provides a new
insight into china's township and village enterprises (TVEs). It
views the governance structure of TVEs as effectively combining the
comparative advantage of local government officials in external
management and of dual firm managers in internal management to
overcome imperfections in both market and government during the
transitional period. Through extensive field investigation analysis
and case studies, this work shows that the governance structure of
TVEs has been evolving during the past fifteen years. To adapt to
the changing environment, TVEs have continuously innovated firm
contractual form from a government official dominant fixed-wage
form to a partnership style profit-sharing form, then to a
privatization oriented fixed-rent form. This work develops a
complete model to explain how the central government's partial
reform efforts in market liberalization have become the driving
force to induce the contractual form innovation, and to explicate
how heterogeneity in firms' technical structures and in local
economic settings may affect local government's decisions regarding
contractual form innovation. Using the author's unique data set,
the model simulations predict that the development in the whole
market system will result in the diffusion of contractual form
innovation and lead to an 'induced privatization' in this sector.
The following empirical studies show this to be a powerful
prediction and the progress toward such 'induced privatization' can
be expected in China in near future. This research work provides a
rich empirical study on China's institutional transition towards a
market system. It explains how a bottom-up endogenous, instead of
top-down exogenous, property rights reform can be realized in
transitional economies. This work will serve as a valuable
reference for researchers and students in economics, economic
development and institutional economics - and especially for those
interested in research.
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