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Property rights and contractual approach to sustainable development

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  • Ben Yu
  • Daigee Shaw
  • Tsu-Tan Fu
  • Lawrence Lai

Abstract

Sustainable development is argued to exist in weak and strong versions. Although the use of a property rights and contractual approach has been well understood in the case of weak sustainable development, the approach has been virtually ignored in the strong version. This paper formulates a property rights and contractual approach for the strong version of sustainable development. By reference to an analytical model and examples from Hong Kong and Taiwan, a Schumpeterian process and the institution of resource entitlements are shown to be the necessary ingredients to promote the strong version of sustainable development. Copyright Springer Japan 2000

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  • Ben Yu & Daigee Shaw & Tsu-Tan Fu & Lawrence Lai, 2000. "Property rights and contractual approach to sustainable development," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 3(3), pages 291-309, September.
    • Handle: RePEc:spr:envpol:v:3:y:2000:i:3:p:291-309
    DOI: 10.1007/BF03354042
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    2. Mark Hansley Chua, 2017. "A Coasian perspective on informal rights assignment among waste pickers in the Philippines," Urban Studies, Urban Studies Journal Limited, vol. 54(13), pages 3071-3084, October.
    3. Lawrence W. C. Lai & Stephen N. G. Davies & K. W. Chau & Ken S. T. Ching & Mark H. Chua & H. F. Leung & Frank T. Lorne, 2018. "The determination of the “true” property boundary in planned development: a Coasian analysis," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 61(3), pages 579-599, November.
    4. Lawrence W.C. Lai, 2020. "Sustainable development of heritage conservation and tourism: A Hong Kong case study on colonial heritage," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(5), pages 1181-1188, September.
    5. Lawrence W C Lai & Connie W Y Hung, 2008. "The Inner Logic of the Coase Theorem and a Coasian Planning Research Agenda," Environment and Planning B, , vol. 35(2), pages 207-226, April.
    6. Lawrence W.C. Lai & Stephen N.G. Davies & Frank T. Lorne, 2019. "Trialogue on Built Heritage and Sustainable Development," Sustainability, MDPI, vol. 11(14), pages 1-10, July.
    7. Chau, K.W. & Davies, Stephen N.G. & Lai, Lawrence W.C. & Lennon, H.T. Choy, 2023. "Museums for ex situ tangible heritage conservation: A neo-institutional analytical and empirical economic analysis," Land Use Policy, Elsevier, vol. 127(C).
    8. Lawrence W C Lai & Valerius W C Kwong, 2012. "Racial Segregation by Legislative Zoning and Company Law: An Empirical Hong Kong Study," Environment and Planning B, , vol. 39(3), pages 416-438, June.
    9. Lawrence W. C. Lai & Frank T. Lorne, 2019. "Sustainable Urban Renewal and Built Heritage Conservation in a Global Real Estate Revolution," Sustainability, MDPI, vol. 11(3), pages 1-12, February.
    10. Go, Virginia Khong & Lai, Lawrence Wai Chung, 2019. "Learning from Taiwan’s post-colonial heritage conservation," Land Use Policy, Elsevier, vol. 84(C), pages 79-86.
    11. Chris Webster, 2005. "Editorial: Diversifying The Institutions Of Local Planning," Economic Affairs, Wiley Blackwell, vol. 25(4), pages 4-10, December.
    12. Tris Kee & Kwong Wing Chau, 2020. "Adaptive reuse of heritage architecture and its external effects on sustainable built environment—Hedonic pricing model and case studies in Hong Kong," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(6), pages 1597-1608, November.
    13. Hojman, David E. & Hiscock, Julia, 2010. "Interpreting suboptimal business outcomes in light of the Coase Theorem: Lessons from Sidmouth International Festival," Tourism Management, Elsevier, vol. 31(2), pages 240-249.

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