Law and Economics with Chinese Characteristics: Institutions for Promoting Development in the Twenty-First Century

Law and Economics with Chinese Characteristics: Institutions for Promoting Development in the Twenty-First Century

Paperback Initiative for Policy Dialogue (Quality)

Edited by Jr. David Kennedy, Edited by Joseph E. Stiglitz

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  • Publisher: Oxford University Press
  • Format: Paperback | 640 pages
  • Dimensions: 156mm x 232mm x 36mm | 940g
  • Publication date: 19 May 2013
  • Publication City/Country: Oxford
  • ISBN 10: 0199698554
  • ISBN 13: 9780199698554
  • Illustrations note: 46 Figures, 16 Tables
  • Sales rank: 694,390

Product description

Policymakers and economists largely agree that 'rule of law' and property rights are essential for a sound economic policy, particularly for most developing countries. But it is becoming increasingly apparent that transplanting legal frameworks from one society to another doesn't work - even though neoliberal orthodoxy has held that it should. China's economic development offers a backdrop for developing alternative viewpoints on these issues. In this book, economists, academics, and policymakers wade straight into the discussion, using China as a concrete reference point. The volume is the result of a series of dialogues among academics and policymakers from China and around the world. While the authors are not at all of one mind on many things, they do share the conviction that China is now entering a critical phase in its economic development and in its transition to a distinctly Chinese market economy. The essays cover a broad range of subjects that have been particularly relevant in China's growth, from property rights to social rights, corporate rights, institutions, intellectual property, and justice. Although the work thoroughly analyzes the best regulatory and institutional frameworks for China's evolving economic and political strategy, its ultimate goal is bigger: it seeks to aid policymakers in both developing and developed countries to create - or in the latter case reform - institutional and regulatory frameworks to achieve equitable and sustained development.

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Author information

Joseph E. Stiglitz is the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 report of the IPCC, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisors under President Clinton and chief economist and senior vice president of the World Bank for 1997-2000. Prior to Columbia he held the Drummond Professorship at All Souls College Oxford, and professorships at Yale, Stanford, and Princeton. He is the author of the best-selling Globalization and Its Discontents, Making Globalization Work, Fair Trade For All, and most recently of Freefall: America, Free Markets, and the Sinking of the World Economy. He has presented invited lectures on many occasions at the China Development Forum and other events in China

Table of contents

Introduction ; PART I: CONCEPTUAL FOUNDATIONS ; 1. Law and Development Economics: Toward a New Alliance ; 2. Creating the Institutional Foundations for a Market Economy ; 3. Analyzing Legal Formality and Informality: Lessons from the Land-titling and Microcredit Programs ; PART II: TOWARDS LAW AND DEVELOPMENT POLICIES WITH CHINESE CHARACTERISTICS ; Section introduction ; A. PROPERTY RIGHTS ; 4. The Economics Behind Law in a Market Economy: Alternatives to the Neo-Liberal Orthodoxy ; 5. Some Caution about Property Rights as a Recipe for Economic Development ; 6. Rural Land Rights in China ; 7. The Role of Property Rights in Chinese Economic Transition ; B. INTELLECTUAL PROPERTY RIGHTS FOR CHINA'S DEVELOPMENT ; 8. Institutional Design for China's Innovation System: Implications for Intellectual Property Rights ; 9. The evolution of China's IPR system and its impact on the innovative performance of MNCs and Local Firms in China ; 10. The Property and Intellectual Property Exchanges (PIPEs) in China since the 1990s ; C. CORPORATE RIGHTS ; 11. The China Aviation Oil Episode: Law and Development in China and Singapore ; 12. Legal Deterrence: The foundation of Corporate Governance - Evidence from China ; D. SOCIAL RIGHTS ; 13. Generosity and Participation: variations in Urban China's Minimum Livelihood Guarantee Policy ; 14. The Intergenerational Content of Social Spending: Health Care and Sustainable Growth in China ; E. LABOR RIGHTS ; 15. The Hukou Reform and Unification of Rural-urban Social Welfare ; PART III: INSTITUTIONAL FOUNDATIONS FOR THE CHINESE MARKET ECONOMY: THE STATE ; Section introduction ; A. DECENTRALIZATION ; 16. Deregulation, Decentralization and China's Growth in Transition ; 17. From Industrialization to Urbanization: The Social Consequences of Changing Fiscal Incentives on Local Government's Behavior ; B. ENFORCING JUSTICE ; 18. China's Network Justice ; 19. China's Courts: Restricted Reform