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An analysis of the financing of China's rural enterprises over the past two decades. Dicusses key aspects of rural enterprise development in China, including the role of state policy, rural financial institutions and local government.
Providing an account of the role of informal institutions in Chinese rural development, this book, based on a decade of fieldwork of village life in the Chinese countryside, puts forth a distinctive argument on a very important topic in Chinese economic and social affairs. Focusing in particular on three major informal institutions: village trust and Rotating Savings and Credit Associations (ROSCAs), guanxi community and Integrating Village with Company (IVWC) governance, it argues that informal institutions, traditions and customs are all critical factors for facilitating modernization and social and economic development, promoting the integration of trust, reciprocity, responsibility and obligation into economic and social exchange processes and considerably lowering risks and transactions costs. This detailed account is an invaluable resource for postgraduates and researching studying and working in this area. Winner of the 2008 Zhang Peigang Development Economics Award.
In this incisive analysis of one of the most spectacular economic breakthroughs in the Deng era, Jean C. Oi shows how and why Chinese rural-based industry has become the fastest growing economic sector not just in China but in the world. Oi argues that decollectivization and fiscal decentralization provided party officials of the localities—counties, townships, and villages—with the incentives to act as entrepreneurs and to promote rural industrialization in many areas of the Chinese countryside. As a result, the corporatism practiced by local officials has become effective enough to challenge the centrality of the national state. Dealing not only with the political setting of rural industrial development, Oi's original and strongly argued study also makes a broader contribution to conceptualizations of corporatism in political theory. Oi writes provocatively about property rights and principal-agent relationships and shows the complex financial incentives that underpin and strengthen the growth in local state corporatism and shape its evolution. This book will be essential for those interested in Chinese politics, comparative politics, and communist and post-communist systems.
This paper updates through 1990 the World Bank analysis of China's nonagricultural rural enterprise sector, which has come to play an increasing role in both industry and the service sector, and which operates largely outside the framework of central state control. The sector's performance during the 7th Five-Year Plan period (1986-90) is reviewed with respect to output, employment, exports and fiscal contribution, and regional and subsectoral variations are examined. Controversies over the sector's record in areas such as economic efficiency, energy intensity and pollution control are also analyzed. Review of the official policy climate towards the sector covers initiatives intended to improve the legislative and incentive frameworks and attempts to improve public provision of services to rural firms, as well as their treatment during the austerity campaign of 1988-90. The paper concludes that the nonstate sector has a crucial role to play in increasing recognition by the central authorities and outlines areas in where the policy climate still shows room for improvement.
This collection of papers presented at an international conference in 1987 provides a comprehensive analysis of China's booming rural non-state industrial sector, both collective and private.
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.
Analyzes how private enterprises have gradually gained momentum and are now a cornerstone in China's rural transformation. The text also presents field study results on how these household-based enterprises affect local community development.
This study focuses on China's rural industries, offering a theoretical framework to explain institutional change.
This study focuses on the effects of market reform on the life chances of rural people in China. Based on comparative ethnographical evidence from three townships of rural Guangdong province, this book provides a more recent and detailed story about the social inequality in rural China, a further explanation for the institutional analysis on the social stratification of China, a new typology of the developmental results and the changing roles of political elite of rural china.