Property rights developments and productivity gains in China: A law and economics perspective
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Interim status: Citation only.
Tian, X. & Lo, V. I. (2007). Property rights developments and productivity gains in China: A law and economics perspective. In S. Lin & S. Song (Eds.), The revival of private enterprise in China (pp. 69-88). Aldershot: Ashgate.
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© Copyright Shuanglin Lin & Shunfeng Song, 2007
Abstract
Extract:
Property rights developments have been taken as a major reform measure to improve efficiency in transition economies in recent years. The economic rationale was most clearly spelled out by the property rights theory. According to this theory, well-defined property rights can serve as the basis for the proper functioning of markets because they provide incentive; stimulate competition; and engender the efficient use of resources, technology innovation, and output growth in a world of scarcity (Furubotn and Pejovich, 1972). In other words, the more property rights move into private hands, the greater the efficiency gains, and the more rapid is output growth.
Suggested Citation
Xiaowen Tian and Vai lo Lo. "Property rights developments and productivity gains in China: A law and economics perspective" The revival of private enterprise in China. Ed. Lin S.; Song S.. Aldershot: Ashgate, 2007. 69-88.
Available at: http://works.bepress.com/xiaowen_tian/7
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