The Institutional Transition of China's Township and Village Enterprises

by
Format: Hardcover
Pub. Date: 2000-02-01
Publisher(s): Ashgate Pub Ltd
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Summary

This text examines China's township and village enterprises from a new angle. An empirically rich study, it provides new insight into 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.

Table of Contents

List of Figures
viii
List of Tables
ix
Preface xi
Series Editor's Preface xvii
Introduction
1(20)
TVE Sector and Its Role in China's Economic Growth
2(5)
TVEs' Organization and the Focus of the Research
7(7)
The Sources and the Methodology
14(4)
The Organization of the Book
18(3)
Local Government Leaders, Firm Managers, and the Two-tier Property Rights Structure of Collective TVEs
21(61)
The Dual Role of Local Leaders in Rural Organization
24(4)
The Objectives and Incentives of Local Leaders
28(14)
The Objectives
28(4)
The Incentives
32(10)
The Property Rights Structure of Collective TVEs
42(12)
Property Rights Theory
43(3)
The Property Rights Structure in Socialist Public Enterprises
46(2)
The Property Rights of Collective TVEs
48(6)
The Advantage of Local Leaders as de facto Owner of Collective TVEs
54(21)
Securing Property Rights
54(3)
Access to Resources
57(13)
Uncertainty and Risk Absorption
70(5)
TVE Managers as the Agents of Local Community Government
75(7)
The Re-delegation of the Control Rights from Community Government to firm Managers
76(1)
The Constitution of TVE Managers
77(3)
The Governance of Collective TVEs
80(2)
The Contractual Structure of Collective TVEs
82(38)
The Contractual Forms Implemented in Collective TVEs
83(19)
The Work-point System
84(1)
The Wage/Salary System
85(3)
The Collective Contractual Responsibility System
88(3)
The Personal Contractual Responsibility System
91(6)
Leasing System
97(2)
Auction
99(3)
The Share-cooperative System
102(5)
Three Categories of the Managerial Contractual Forms
107(6)
The Coexistence, Evolution, and Cross-regional Variation in the Contractual Structure of Collective TVEs
113(7)
Modeling the Contractual Structure of Collective TVEs
120(51)
Institutions and Induced Institutional Innovation: A Brief Review of Institutional Economics
120(18)
Institutions and Institutional Economics
121(3)
Institutions of Governance
124(3)
Contracting with Positive Transaction Costs
127(2)
Governance Structure and Transaction Costs
129(3)
Induced Institutional Innovation
132(6)
What Factors May Determine the Contractual Form of TVEs?
138(13)
The Model
151(5)
Model Simulations and Implications
156(15)
The Space Partition of Dominant Contractual Form
159(4)
The Divergence in Firm's Technical Structure
163(2)
Changes in the Relative Importance of External Management
165(3)
Changes in Opportunity Incomes
168(3)
Explaining the Contractual Form Innovation in Collective TVEs
171(37)
Empirical Tests of the Model: The Explanatory Power of Model Predicted Factors
171(16)
The Development of Markets
172(4)
The Technical Structure of the Firm
176(8)
The Economic Setting of the Locality
184(3)
Empirical Tests of the Model: The Relative Importance of Model Predicted Factors
187(21)
The Model and the Variables
187(6)
The Data
193(3)
The Results and the Explanations
196(9)
Conclusions
205(3)
Endogenous Reform and Induced Privatization: Concluding Remarks
208(38)
Introduction
208(4)
The Endogenous Model of Economic Reform: `Induced Privatization'
212(7)
The Feedback Effects of Contractual Form Innovation
219(13)
What Can We Learn?
232(7)
Appendix
239(7)
Diffusion of Fixed-payment Contractual Form
239(3)
Stagnation in the Zhejiang Investigation Site
242(1)
Trend of Privatization
242(1)
Persistence of the Fixed-wage Managerial Form
243(1)
Conclusions
244(2)
Bibliography 246(20)
Index 266

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