Strange bedfellows: Dynamics of government‐business relations between Chinese local authorities and Taiwanese investors
| Autor: | Jieh‐min Wu |
|---|---|
| Rok vydání: | 1997 |
| Předmět: |
Transaction cost
Government Corruption media_common.quotation_subject Geography Planning and Development Foreign direct investment Development Market economy Promotion (rank) Property rights Business relations Political Science and International Relations Economics Economic system China media_common |
| Zdroj: | Journal of Contemporary China. 6:319-346 |
| ISSN: | 1469-9400 1067-0564 |
| DOI: | 10.1080/10670569708724281 |
| Popis: | China poses a theoretical challenge in that corruption and rent‐seeking activities have not hindered foreign direct investment and economic development. Studies in development have documented the problems of rent‐seeking. International capital presumably hesitates to step into a Third‐World country such as China, which cannot protect private property rights with a comprehensive legal framework. However, for the last decade in China export promotion, foreign capital, and industrial development have proceeded simultaneously. This research argues that local officials helped investors overcome the problem of high transaction costs during a period of institutional uncertainty and local informal rules supplied foreigners with effective protection of property rights under corrupt circumstances. By controlling rent‐seeking activities, local officials created a wide variety of ad hoc patronage for private and foreign investments within their administrative domain. In return, local governments received extrabudgeta... |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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