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A Theory of Ownership Arrangements and Smooth Transition

  • Guoqiang Tian

This paper develops a theoretical model that determines the optimal ownership arrangement in an imperfect market and government institutional environment, especially in transitional economies. It studies the interdependence of institutional environments and ownership arrangements. The theory developed sheds some light on predicting how the transition from a command economy to a free market economy takes place. It shows that an ownership arrangement may not be changed effectively without changing economic and political institutional environments.

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Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

Volume (Year): 157 (2001)
Issue (Month): 3 (September)
Pages: 380-

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Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200109)157:3_380:atooaa_2.0.tx_2-4
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  1. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, March.
  2. Gary H. Jefferson & Thomas G. Rawski, 1994. "Enterprise Reform in Chinese Industry," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 47-70, Spring.
  3. Diewert, W. E., 1973. "Functional forms for profit and transformation functions," Journal of Economic Theory, Elsevier, vol. 6(3), pages 284-316, June.
  4. Olivier Blanchard & Stanley Fischer, 1993. "Editorial in "NBER Macroeconomics Annual 1993, Volume 8"," NBER Chapters, in: NBER Macroeconomics Annual 1993, Volume 8, pages 1-10 National Bureau of Economic Research, Inc.
  5. Michael R. Baye & Guoqiang Tian & Jianxin Zhou, 1993. "Characterizations of the Existence of Equilibria in Games with Discontinuous and Non-quasiconcave Payoffs," Review of Economic Studies, Oxford University Press, vol. 60(4), pages 935-948.
  6. Grossman, Sanford J. & Hart, Oliver D., 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Scholarly Articles 3450060, Harvard University Department of Economics.
  7. 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.
  8. Olivier Jean Blanchard & Stanley Fischer, 1993. "NBER Macroeconomics Annual 1993, Volume 8," NBER Books, National Bureau of Economic Research, Inc, number blan93-1, September.
  9. Eswaran, Mukesh & Kotwal, Ashok, 1985. "A Theory of Contractual Structure in Agriculture," American Economic Review, American Economic Association, vol. 75(3), pages 352-67, June.
  10. Olivier Jean Blanchard & Stanley Fischer (ed.), 1993. "NBER Macroeconomics Annual 1993," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262521849, March.
  11. Hehui Jin & Yingyi Qian, 1998. "Public Versus Private Ownership of Firms: Evidence from Rural China," The Quarterly Journal of Economics, Oxford University Press, vol. 113(3), pages 773-808.
  12. Davis, Lance & North, Douglass, 1970. "Institutional Change and American Economic Growth: A First Step Towards a Theory of Institutional Innovation," The Journal of Economic History, Cambridge University Press, vol. 30(01), pages 131-149, March.
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