The roles of law and politics in China's development / Guanghua Yu.
2014
HC427.92 .Y8 2014 (Map It)
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Details
Author
Title
The roles of law and politics in China's development / Guanghua Yu.
Published
Singapore : Springer, [2014]
Copyright
©2014
Call Number
HC427.92 .Y8 2014
ISBN
9812870016
9789812870018
9789812870018
Description
xiii, 212 pages ; 25 cm
System Control No.
(OCoLC)871318890
Summary
This book examines China's economic development from the end of 1970s, integrating perspectives from law, economics and political science. Particular attention is given to the role of formal law and political changes in China's development, presenting the argument that formal law has made a useful contribution to China's economic development. Chapters explore the relationship between democracy and mechanisms of property rights protection, financial market, rule of law, and human capital accumulation. The author goes on to examine the persistence of authoritarianism, democracy and economic development and the concept of deliberative democracy. This book concludes with a look at future options for China, from political, economic and rule of law perspectives. The book considers China's current political regime and analyzes the likely political and constitutional law reforms that are not only conducive to China's economic development but also beneficial to the enhancement of freedom. Some knowledge of the Chinese legal system, economy, and political institutions is assumed, making this book valuable to those requiring a deeper understanding of the subject. The book will appeal to legal scholars and lawyers requiring an understanding of the impact of the Chinese legal system on China's economic and political development and to scholars and students in political science and economics with an interest in China's institutional change. Policy makers and administrators with an interest in policy and law making in China will also find this book valuable.
Bibliography, etc. Note
Includes bibliographical references and index.
Record Appears in
Table of Contents
1.
Introduction
1
References
10
2.
Informal and Formal Contracts
13
2.1.
Introduction
13
2.2.
The Informal Contractual Arrangements in Wenzhou
15
2.2.1.
Direct Private Borrowing
17
2.2.2.
Borrowing Through the Intermediary of Yinbei
17
2.2.3.
Juhui
18
2.2.4.
Direct Fund Raising by Enterprises
18
2.3.
Formal Contractual Arrangements
24
2.3.1.
Bills of Exchange
24
2.3.2.
Documentary Credit
29
2.3.3.
Secured Lending
32
2.4.
Contract Law Enforcement and Economic Development
36
2.5.
Conclusion
41
References
42
3.
Contract Enforcement Revisited
45
3.1.
Introduction
45
3.2.
A Demand-Side Analysis
46
3.2.1.
Problems with Informal Contract Enforcement
46
3.2.2.
The Nature of China's Economy
47
3.2.3.
Liberalization of the Chinese Economy and the Formal Law
49
3.3.
A Supply-Side Explanation
52
3.3.1.
Statistical Evidence
53
3.3.2.
A Political Economy Explanation of the Supply-Side Expansion
59
3.4.
The Survey Results
61
3.5.
Conclusion
68
References
68
4.
The Role of Mortgages
71
4.1.
Introduction
71
4.2.
The Device of Mortgages and Formal Law
72
4.3.
Mortgages Law and Bank Lending
77
4.3.1.
The Legal Framework
77
4.3.2.
The Evidence and Explanations
82
4.3.3.
Questionnaire Survey
88
4.4.
Conclusion
89
References
90
5.
Protective and Non-protective Functions of Law
95
5.1.
Introduction
95
5.2.
Inadequate Evidence in Dismissing the Role of Law in Economic Development
96
5.3.
Signaling, Self-Commitment, and Coordination
102
5.3.1.
Signaling
102
5.3.2.
Self-Commitment
106
5.3.3.
Coordination
109
5.4.
The Role of Government
113
5.4.1.
Introduction
113
5.4.2.
Government's Role on SOEs
115
5.4.3.
Government's Role in TVEs
115
5.4.4.
Government's Role in the Provision of Public Goods
118
5.5.
Conclusion
118
References
119
6.
Explaining the Persistence of Authoritarianism
125
6.1.
Introduction
125
6.2.
Modernization
126
6.3.
Cultural or Ideological Explanation
129
6.4.
The Geopolitical Variable
132
6.5.
Resilience or Legitimacy
137
6.6.
Review of Survey Results
139
6.7.
Conclusion
141
References
142
7.
Democracy and Economic Development
145
7.1.
Introduction
145
7.2.
The Relationship Between Democracy and Economic Development
145
7.3.
The Indirect Effects of Democracy on Economic Development
149
7.3.1.
Rights to Property
149
7.3.2.
Investment and Finance
150
7.3.3.
Rule of Law
152
7.3.4.
Education and Human Capital
153
7.4.
Indirect Effects and One-Party Rule
154
7.5.
Conclusion
162
References
163
8.
Towards Deliberative Democracy
167
8.1.
Introduction
167
8.2.
Motivations of Takeover of Corporations and Governments
169
8.2.1.
Motivations of Takeover of Corporations
169
8.2.2.
Motivations of Takeover of Governments
170
8.2.3.
A Comparison of the Motivations of Takeover of Corporations and Governments
172
8.3.
Information and Expertise of Acquirers
174
8.4.
Resources Used and the Possibility of Externalizing the Cost of Takeovers
175
8.5.
Measurement of Success or Failure of Takeover of Corporations and Governments
176
8.6.
Implications for Regime Choices
179
8.6.1.
Legitimacy
179
8.6.2.
Democracy
181
8.6.3.
Performance
184
8.7.
Conclusion
188
References
189
9.
Conclusion and Future Options
193
9.1.
Political Options
193
9.2.
Economic Options
196
9.3.
Rule of Law Reform Options
199
References
201
Index
203