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Asymmetric property rights in China's economic growth:

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  • Zhang, Xiaobo

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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Bibliographic Info

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
Date of revision:
Handle: RePEc:fpr:dsgddp:28

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

This paper has been announced in the following NEP Reports:

References

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  2. Gulati, Ashok & Narayanan, Sudha, 2003. "The Subsidy Syndrome in Indian Agriculture," OUP Catalogue, Oxford University Press, number 9780195662061, September.
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  11. repec:rus:hseeco:72153 is not listed on IDEAS
  12. Xiaobo Zhang & Kevin 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.
  13. Jiahua Che & Yingyi Qian, 1997. "Insecure Property rights and Government Ownership of Firms," William Davidson Institute Working Papers Series 51, William Davidson Institute at the University of Michigan.
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Citations

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Cited by:
  1. Lindbeck, Assar, 2007. "Economic-Social Interaction in China," Working Paper Series 720, Research Institute of Industrial Economics.
  2. Xu, Chenggang & Zhang, Xiaobo, 2009. "The evolution of Chinese entrepreneurial firms: Township-village enterprises revisited," IFPRI discussion papers 854, International Food Policy Research Institute (IFPRI).
  3. Lindbeck, Assar, 2006. "Economic-Social Interaction during China’s Transition," Working Paper Series 680, Research Institute of Industrial Economics.
  4. 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).
  5. 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.

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