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1 - The Traditional Framework

from Part I - Economic Development and the Role of Law

Published online by Cambridge University Press:  10 August 2023

Tamar Groswald Ozery
Affiliation:
Hebrew University of Jerusalem
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Summary

Scholars have long regarded certain attributes of corporate governance, particularly legal institutions that protect investors, as engines for financial development, capital market expansion, and growth. Yet, the development of China’s market challenges many of the underlying assumptions in those theories and leaves its observers puzzled. Consequently, many have dismissed the role of law in China’s economic development. But they have neglected to consider the political functions of law and how they have bolstered the development of the Chinese market. Part I delineates the conceptual and analytical frameworks underpinning the book. Chapter 1 unpacks the traditional framework that shapes how scholars and policymakers think of corporate governance and its role in financial development and market growth. Chapter 2 offers law and political economy as an alternative analytical framework through which to address the puzzle and the role of law within it.

Type
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Law and Political Economy in China
The Role of Law in Corporate Governance and Market Growth
, pp. 11 - 15
Publisher: Cambridge University Press
Print publication year: 2023

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