Ownership in China's Transitional Economy

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This study seeks to develop a thorough understanding of the change of ownership and property rights in the context of China in transition, with all the political and social implications that the process entails. To do so, the work aims both to understand and challenge the conventional property rights theory which fails to consider the organizational context of the societies in which economic institutions operate. The research identifies the strong presence of the state associated with the evolution of high-tech spin-offs in transitional China, the process of which has also been characterized by fuzzy property rights and public entrepreneurship as two key stepping stones of development.


“Chen Yang’s book is a very timely addition to the scholarly literature concerned with the recent political economy of China. ... The book provides a welcome counterblast to the more conventional explanations associated with the ‘clarification of property rights’ calls of the neo-classical school, arguing, as Chen Yang does, for China to maintain its essentially pragmatic approach to economic reform in future, examining privatization on a case-by-case basis.” - Dr Richard Sanders, Reader in Political Economy, Northampton Business School, University of Northampton

“This book is very timely contribution to the understanding of the recent political and economic transition of China. Readers will end up far more insightful and informed about the process and motivations of China’s ownership and property rights reform.” - Dr. Guy Liu, Brunel Business School, University of Brunel

“Chen Yang’s fascinating book offers a good understanding of economic reform in China and elaborates the most conspicuous feature of China’s ‘gradual’ or ‘incremental’ approach to institutional transformation, which is completely different from the ‘shock therapy’ advocated by the neo-classical economists and adopted in the former Soviet Union and East European countries in the early 1990s. ... I recommend the book wholeheartedly to research students, scholars, Chinese observers and the general public engaged in the contemporary Chinese studies so that they will have a more profound and comprehensive understanding of economic transition in China after reading the book.” - Dr. Pei Sun, Nottingham University Business School

Table of Contents

List of Figures
List of Tables
Foreword by Dr. Richard Sanders
1 The Changing Nature of Ownership and Property Rights in the Context of China in Transition
2 On Conventional Property Rights Theory
3 From Marxism-Leninism to Neo-Classical Doctrine: The Dominant Neo-Classical Presence
4 The Evolution of High-Tech Industry in the Context of China in Transition
5 Property Rights Arrangements of High-Tech Spin-Offs at the Start-Up Stage (1980-92)
6 High-Tech Spin-Offs of Leading Universities at the Start-Up Stage (1980-92)
7 Transitional Property Rights and Ownership of High-Tech Spin-Offs (1992 Onwards)
8 Conclusion

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