- Publisher: Cambridge University Press
- Online publication date: August 2019
- Print publication year: 2019
- Online ISBN: 9781108632522
- DOI: https://doi.org/10.1017/9781108632522
Please note, due to essential maintenance online transactions will not be possible between 02:30 and 04:00 BST, on Tuesday 17th September 2019 (22:30-00:00 EDT, 17 Sep, 2019). We apologise for any inconvenience.
This book addresses the long-standing puzzle of how China's private sector manages to grow without secure property rights, and proposes a new theory of selective property rights to explain this phenomenon. Drawing on rich empirical evidence including in-depth interviews, a unique national survey of private entrepreneurs, two original national audit experiments and secondary sources, Professor Yue Hou shows that private entrepreneurs in China actively seek opportunities within formal institutions to advance their business interests. By securing seats in the local legislatures, entrepreneurs use their political capital to deter local officials from demanding bribes, ad hoc taxes, and other types of informal payments. In doing so they create a system of selective, individualized, and predictable property rights. This system of selective property rights is key to understanding the private sector growth in the absence of the rule of law.
* Views captured on Cambridge Core between #date#. This data will be updated every 24 hours.
Usage data cannot currently be displayed