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Chinese Township Village Enterprises as Vaguely Defined Cooperations

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M Weitzman
Chenggang Xu

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Abstract

This paper concerns the paradoxes and dilemmas that the very successful "Chinese model" presents for transition theory. The "Chinese model" is centered on the development of township-village enterprises. The main purpose of this paper is to make the case that TVE's are not just some form of disguised capitalist institution; they are much better described as "vaguely defined cooperatives" - meaning an essentially communal organization extremely far removed from having well defined ownership structure. That a transition strategy based on vaguely defined cooperatives should be so successful presents a severe challenge for traditional property theory. We speculate that to address this challenge properly, traditional property rights should be extended by including a dimension corresponding to the degree of individualism/cooperation existing in a society. A model of the required extension is described. Implications and application are discussed.

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Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0155.

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Date of creation: Jun 1993
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Handle: RePEc:cep:cepdps:dp0155

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  1. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-58, December. [Downloadable!] (restricted)
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  2. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August. [Downloadable!] (restricted)
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  1. Eelco Modderman & Cees Gorter & Jasper Dalhuisen & Peter Nijkamp, 2001. "Labour Manoeuvrability and Economic Performance in Township-Village Enterprises: The Case of China," Tinbergen Institute Discussion Papers 01-072/1, Tinbergen Institute. [Downloadable!]
  2. Mario Biggeri & Danilo Gambelli & Christine Phillips, 1999. "Small and medium enterprise theory: evidence for Chinese TVEs," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(2), pages 197-219.
  3. Tetsushi Sonobe & Keijiro Otsuka, 2004. "Productivity Effects of TVE Privatization: The Case Study of Garment and Metal-Casting Enterprises in the Greater Yangtze River Region," NBER Chapters, in: Governance, Regulation, and Privatization in the Asia-Pacific Region, NBER East Asia Seminar on Economics, Volume 12, pages 231-250 National Bureau of Economic Research, Inc. [Downloadable!]
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  4. Maria Dacosta, Wayne Carroll, 2001. "Township and Village Enterprises, Openness and Regional Economic Growth in China," Post-Communist Economies, Taylor and Francis Journals, vol. 13(2), pages 229-241, June. [Downloadable!] (restricted)
  5. Ito, Junichi, 2002. "Why TVES have contributed to interregional imbalances in China:," EPTD discussion papers 91, International Food Policy Research Institute (IFPRI). [Downloadable!]
  6. Chong-En Bai & Chenggang Xu, 2001. "Ownership, Incentives and Monitoring," STICERD - Theoretical Economics Paper Series 413, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  7. Loren Brandt & Hongbin Li & Joanne Roberts, 2001. "Why do Governments Privatize," William Davidson Institute Working Papers Series 429, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  8. Vai Io Lo & Xiaowen Tian, 2002. "Property Rights, Productivity Gains and Economic Growth: the Chinese Experience," Post-Communist Economies, Taylor and Francis Journals, vol. 14(2), pages 245-258, June. [Downloadable!] (restricted)
  9. Justin Yifu Lin, 2006. "Chinese Rural Industrialisation in the Context of the East Asian Miracle," Working Papers id:647, esocialsciences.com. [Downloadable!]
  10. Gregory C. Chow, 2003. "Challenges of China;s Economic System for Economic Theory," Microeconomics 0306002, EconWPA. [Downloadable!]
  11. Krug, B. & Hendrischke, H., 2001. "The Emergence of a Private Business Sector in China," Research Paper ERS-2001-03-ORG Revision_, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
  12. VN Balasubramanyam & Xiaolan Fu, 2002. "Township and village enterprises in China," Working Papers 000047, Lancaster University Management School, Economics Department. [Downloadable!]
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  13. Yang Yao, 2004. "Government Commitment and the Outcome of Privatization in China," NBER Chapters, in: Governance, Regulation, and Privatization in the Asia-Pacific Region, NBER East Asia Seminar on Economics, Volume 12, pages 251-276 National Bureau of Economic Research, Inc. [Downloadable!]
  14. Peter Li, 2009. "The Duality of Crony Corruption in Economic Transition: Toward an Integrated Framework," Journal of Business Ethics, Springer, vol. 85(1), pages 41-55, March. [Downloadable!] (restricted)
  15. C Goodhart & Chenggang Xu, 1996. "The Rise of China as an Economic Power," CEP Discussion Papers dp0299, Centre for Economic Performance, LSE. [Downloadable!]
  16. Frank Kleibergen, 2001. "How to overcome the Jeffreys-Lindleys Paradox for Invariant Bayesian Inference in Regression Models," Tinbergen Institute Discussion Papers 01-073/4, Tinbergen Institute. [Downloadable!]
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