Yi-min Lin

Dancing with the Devil (eBook, ePUB)

The Political Economy of Privatization in China

• Format: ePub

Produktbeschreibung

From 1978 through the turn of the century, China was transformed from a state-owned economy into a predominantly private economy. This fundamental change took place under the Chinese Communist Party (CCP), which has been ideologically and politically predisposed to suppress private ownership. In Dancing with the Devil, Yi-min Lin explains how and why such a paradoxical reality came about. He shows that private ownership became a necessary evil for the CCP because the public sector was increasingly unable to address two essential concerns for regime survival: employment and revenue. Focusing on political actors as major change agents, Lin examines how their self-interested behavior led to the decline of public ownership in the context of China's evolving demographics and fiscal system. The constraints and incentives associated with these factors help explain CCP leaders' initial decision to allow limited private economic activities at the outset of reform. They also shed light on the ballooning opportunism among lower officials, which undermined the vitality of public enterprises. Furthermore, they hold a key to understanding the timing of the massive privatization in the late 1990s, as well as its tempo and spread thereafter. Dancing with the Devil illustrates how the driving forces developed and played out in these intertwined episodes of the story. In so doing, it offers new insights into the mechanisms of China's economic transformation and enriches theories of institutional change.

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Produktdetails

• Verlag: Oxford University Press
• Seitenzahl: 304
• Erscheinungstermin: 1. Mai 2017
• Englisch
• ISBN-13: 9780190682859
• Artikelnr.: 48238094

Autorenporträt

Yi-min Lin teaches at the Division of Social Science, Hong Kong University of Science and Technology.

Inhaltsangabe

* Introduction
* Privatization and Institutional Change: Toward an Eclectic
Perspective
* Driving Forces of Privatization
* Political Actors as Change Agents: The Main Storyline
* Note on Statistical Analyses, Data Sources and Chinese Materials
* 1. The Changing Fate of Private Ownership since 1949
* Socialist Transformation and the Mao Era
* From Getihu to "Equal Protection" of Public and Private Property
Rights
* Reversal or Moderation of Privatization?
* Broad Trends of Change
* Summary and Questions
* 2. Demographic Pressures
* Structure and Change of the Post-1949 Population
* Buildup of Employment Pressures
* Labor Market: Occupational and Spatial Movements
* Ageing and Old Age Support
* Summary
* 3. The Evolving Structure of Public Finance
* "Unified Revenue and Spending"
* Fiscal Contracts
* Revenue Partitioning
* Implications
* 4. Careerism and Moral Hazard in Early Marketization
* Large Is Beautiful: Political Performance Assessment under Economic
Decentralization
* The TVE Spectacle
* The SOE Sideshow
* Summary
* 5. Rule Bending for the Necessary Evil
* Uneven Paces of Early Privatization
* The Wenzhou Story Retold
* Beyond Wenzhou
* Summary
* 6. FDI and Privatization
* Centrally Imposed Constraints and Local Rule Bending
* FDI Entry Mode and Resource Dependence
* Bi-polar Concentration of Risk Taking
* Summary
* 7. The Tipping Point and Beyond
* The Triggers
* The Political Bandwagon
* From Industrial Development to Urbanization
* Asset Stripping and Insider Control
* The End Game: SASAC and the Remaining SOEs
* Summary
* Conclusion
* Institutional Stability and Unintended Consequences of Rule
Compliance
* Non-compliance and Political Risk Management
* Path Dependence in Endogenous Institutional Change
* Bibliography