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Asymmetric property rights in China's economic growth:

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Author Info
Zhang, Xiaobo

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Abstract

"This paper highlights the difference between secure investor property rights and loosely defined individual property rights. Globalization and fiscal decentralization have intensified this difference. On the one hand, in the presence of mobile foreign direct investments and under the arrangement of fiscal decentralization, local governments compete vigorously to offer various protections on the property rights of investors; on the other hand, local governments and developers attempt to acquire land at as low price as possible by taking advantage of the loopholes inherent in the Chinese law. Secure investor property rights together with weak protections on individuals' land property rights is argued to be one of the major drivers of China's rapid economic growth. But the same factor can veer those individuals being deprived of land into violence and social unrest, which may undermine China's social stability and long-term sustainable growth." from Authors' Abstract

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Paper provided by International Food Policy Research Institute (IFPRI) in its series DSGD discussion papers with number 28.

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Date of creation: 2006
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Handle: RePEc:fpr:dsgddp:28

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Related research
Keywords: Property rights; Investments; economic growth; China; individual land property; Fiscal policies; Decentralization;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Xiaobo Zhang & Kevin H. Zhang, 2003. "How Does Globalisation Affect Regional Inequality within A Developing Country? Evidence from China," The Journal of Development Studies, Taylor and Francis Journals, vol. 39(4), pages 47-67, April. [Downloadable!] (restricted)
  2. Lin, Justin Yifu, 2003. "Development Strategy, Viability, and Economic Convergence," Economic Development and Cultural Change, University of Chicago Press, vol. 51(2), pages 276-308, January.
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  3. David D. Li, 1996. "A Theory of Ambiguous Property Rights in Transition Economies: The Case of the Chinese Non-State Sector," William Davidson Institute Working Papers Series 8, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  4. Qian, Yingyi & Roland, Gerard, 1998. "Federalism and the Soft Budget Constraint," American Economic Review, American Economic Association, vol. 88(5), pages 1143-62, December. [Downloadable!] (restricted)
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  5. Zhang, Xiaobo & Tan, Kong-Yam, 2004. "Blunt to sharpened razor," DSGD discussion papers 13, International Food Policy Research Institute (IFPRI). [Downloadable!]
  6. Justin Lifu Lin, 2004. "Is China's Growth Real and Sustainable," Development Economics Working Papers 445, East Asian Bureau of Economic Research. [Downloadable!]
  7. Alwyn Young, 2003. "Gold into Base Metals: Productivity Growth in the People's Republic of China during the Reform Period," Journal of Political Economy, University of Chicago Press, vol. 111(6), pages 1220-1261, December. [Downloadable!] (restricted)
  8. Jiahua Che & Yingyi Qian, 1998. "Insecure Property Rights And Government Ownership Of Firms," The Quarterly Journal of Economics, MIT Press, vol. 113(2), pages 467-496, May. [Downloadable!] (restricted)
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  9. Acemoglu, Daron, 2003. "Why not a political Coase theorem? Social conflict, commitment, and politics," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 620-652, December. [Downloadable!] (restricted)
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  10. Li, David D., 1996. "A Theory of Ambiguous Property Rights in Transition Economies: The Case of the Chinese Non-State Sector," Journal of Comparative Economics, Elsevier, vol. 23(1), pages 1-19, August. [Downloadable!] (restricted)
  11. Besley, Timothy, 1995. "Property Rights and Investment Incentives: Theory and Evidence from Ghana," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 903-37, October. [Downloadable!] (restricted)
  12. Franklin Allen & Jun Qian & Meijun Qian, 2002. "Law, Finance, and Economic Growth in China," Center for Financial Institutions Working Papers 02-44, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]
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  13. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December. [Downloadable!] (restricted)
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  14. repec:rus:hseeco:72153 is not listed on IDEAS
  15. Shenggen Fan & Xiaobo Zhang & Sherman Robinson, 2003. "Structural Change and Economic Growth in China," Review of Development Economics, Blackwell Publishing, vol. 7(3), pages 360-377, 08. [Downloadable!] (restricted)
  16. Yang, Xiaokai, 1993. "Theories of property rights and China's reforms," China Economic Review, Elsevier, vol. 4(2), pages 195-212. [Downloadable!] (restricted)
  17. Xiaobo Zhang & Timothy D. Mount & Richard N. Boisvert, 2004. "Industrialization, urbanization and land use in China," Journal of Chinese Economic and Business Studies, Taylor and Francis Journals, vol. 2(3), pages 207-224, September. [Downloadable!] (restricted)
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Boudewijn Bouckaert, 2007. "Bureaupreneurs in China: we did it our way," European Journal of Law and Economics, Springer, vol. 23(2), pages 169-195, April. [Downloadable!] (restricted)
  2. Lindbeck, Assar, 2006. "Economic-Social Interaction during China’s Transition," Working Paper Series 680, Research Institute of Industrial Economics. [Downloadable!]
  3. Zhang, Xiaobo, 2006. "Fiscal Decentralization and Political Centralization in China: Implications for Growth and Inequality," Working Papers RP2006/93, World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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