A Theory of Ownership Arrangements and Smooth Transition
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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Volume (Year): 157 (2001)
Issue (Month): 3 (September)
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- Hart, Oliver & Moore, John, 1990.
"Property Rights and the Nature of the Firm,"
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- Oliver Hart & John Moore, 1988. "Property Rights and the Nature of the Firm," Working papers 495, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
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- 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.
- 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, January.
- 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.
- 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.
- 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. Full references (including those not matched with items on IDEAS)
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