scispace - formally typeset
Open AccessPosted Content

Chinese Township Village Enterprises as Vaguely Defined Cooperations

Reads0
Chats0
TLDR
In this article, the authors make the case that TVE's are not just some form of disguised capitalist institution; they are much better described as "vaguely defined cooperatives" - meaning an essentially communal organization extremely far removed from having well defined ownership structure.
Abstract
This paper concerns the paradoxes and dilemmas that the very successful "Chinese model" presents for transition theory. The "Chinese model" is centered on the development of township-village enterprises. The main purpose of this paper is to make the case that TVE's are not just some form of disguised capitalist institution; they are much better described as "vaguely defined cooperatives" - meaning an essentially communal organization extremely far removed from having well defined ownership structure. That a transition strategy based on vaguely defined cooperatives should be so successful presents a severe challenge for traditional property theory. We speculate that to address this challenge properly, traditional property rights should be extended by including a dimension corresponding to the degree of individualism/cooperation existing in a society. A model of the required extension is described. Implications and application are discussed.

read more

Citations
More filters
Journal ArticleDOI

The Fundamental Institutions of China's Reforms and Development

TL;DR: The authors analyzes China's institution, a regionally decentralized authoritarian system where the central government has control over personnel, whereas subnational governments run the bulk of the economy; and they initiate, negotiate, implement, divert, and resist reforms, policies, rules, and laws.
Journal ArticleDOI

Understanding institutional change: Fast-moving and slow-moving institutions

TL;DR: In this paper, a classification of slow-moving and fast-moving institutions is proposed, and the potential results of their interaction are discussed. And the interaction between slow moving and fast moving institutions can shed light on institutional change (why, how, and when it occurs).
Posted Content

Whither Reform? Ten Years of the Transition

TL;DR: The authors argue that the failures of the reforms in Russia and most of the former Soviet Union are not just due to sound policies being poorly implemented, but also due to a misunderstanding of the foundations of a market economy as well as a fundamental understanding of the basics of an institutional reform process.
Journal ArticleDOI

Kinship networks and entrepreneurs in China's transitional economy

TL;DR: In this paper, the economic payoff of kinship networks in the context of China's rural industrialization was analyzed and it was shown that kin solidarity and kin trust played an important role in protecting the property rights of private entrepreneurs and reducing transaction costs during early stages of market reform.
Journal ArticleDOI

Enterprise Reform in Chinese Industry

TL;DR: In this paper, the authors focus on the role of industry in China's economic reform process, emphasizing that industry is the largest sector of China's economy, accounting for 50 percent of total output and 80 percent of exports, and employing 102 million workers.
References
More filters
Journal ArticleDOI

The Nature of the Firm

Ronald H. Coase
- 01 Nov 1937 - 
TL;DR: In this paper, it is shown that a definition of a firm may be obtained which is not only realistic in that it corresponds to what is meant by a firm in the real world, but is tractable by two of the most powerful instruments of economic analysis developed by Marshall, the idea of the margin and that of substitution.
Journal ArticleDOI

The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration

TL;DR: In this paper, a theory of costly contracts is presented, which emphasizes the contractual rights can by of two types: specific rights and residual rights, and when it is costly to list all specific rights over assets, it may be optimal to let one party purchase all residual rights.
Journal ArticleDOI

Property Rights and the Nature of the Firm

TL;DR: In this article, the authors provide a framework for addressing the question of when transactions should be carried out within a firm and when through the market, by identifying a firm with the assets that its owners control.
Book ChapterDOI

Corporate culture and economic theory

TL;DR: In this paper, the authors explore how an economic theorist might explain or model a concept such as corporate culture and conclude that economic theory is moving in the direction of what seems a reasonable story.
Book ChapterDOI

The theory of contracts

TL;DR: The authors presented at the World Congress of the Econometric Society, Cambridge, Massachusetts, 1985, The authors, a paper that was later used at the International Journal of Mathematical Information.