Free ebooks ==> www.Ebook777.com www.Ebook777.com Free ebooks ==> www.Ebook777.com LAW AND ECONOMICS WITH CHINESE CHARACTERISTICS www.Ebook777.com THE INITIATIVE FOR POLICY DIALOGUE SERIES The Initiative for Policy Dialogue (IPD) brings together the top voices in development to address some of the most pressing and controversial debates in economic policy today The IPD book series approaches topics such as capital market liberalization, macroeconomics, environmental economics, and trade policy from a balanced perspective, presenting alternatives, and analyzing their consequences on the basis of the best available research Written in a language accessible to policymakers and civil society, this series will rekindle the debate on economic policy and facilitate a more democratic discussion of development around the world OTHER TITLES PUBLISHED BY OXFORD UNIVERSITY PRESS IN THIS SERIES Fair Trade for All Joseph E Stiglitz and Andrew Charlton Economic Development and Environmental Sustainability Edited by Ramón López and Michael A Toman Stability with Growth Joseph E Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar The Washington Consensus Reconsidered Narcis Serra and Joseph E Stiglitz Capital Market Liberalization and Development Edited by José Antonio Ocampo and Joseph E Stiglitz Industrial Policy and Development Edited by Mario Cimoli, Giovanni Dosi, and Joseph E Stiglitz Time for a Visible Hand Edited by Stephany Griffith-Jones, José Antonio Ocampo, and Joseph E Stiglitz Debates in the Measurement of Global Poverty Edited by Sudhir Anand, Paul Segal, and Joseph E Stiglitz Overcoming Developing Country Debt Crises Edited by Barry Herman, José Antonio Ocampo, and Shari Spiegel Good Growth and Governance in Africa Edited by Akbar Noman, Kwesi Botchwey, Howard Stein, and Joseph E Stiglitz The Economic Development of Latin America since Independence Luis Bértola and José Antonio Ocampo Law and Economics with Chinese Characteristics Edited by David Kennedy and Joseph E Stiglitz Law and Economics with Chinese Characteristics Institutions for Promoting Development in the Twenty-First Century Edited by DAVID KENNEDY AND JOSEPH E STIGLITZ Free ebooks ==> www.Ebook777.com Great Clarendon Street, Oxford, OX2 6DP, United Kingdom Oxford University Press is a department of the University of Oxford It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries # Oxford University Press 2013 Chapter 11 # The University of Chicago 2008 Chapter 12 # Zhong Zhang 2007 Chapter 18 # Benjamin Liebman and Tim Wu 2007 Chapter 19 # The China Quarterly 2007 The moral rights of the author have been asserted First Edition published in 2013 Impression: All rights reserved No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of Oxford University Press, or as expressly permitted by law, by licence or under terms agreed with the appropriate reprographics rights organization Enquiries concerning reproduction outside the scope of the above should be sent to the Rights Department, Oxford University Press, at the address above You must not circulate this work in any other form and you must impose this same condition on any acquirer British Library Cataloguing in Publication Data Data available ISBN 978–0–19–969854–7 (Hbk) 978–0–19–969855–4 (Pbk) Printed in Great Britain by MPG Printgroup, UK Links to third party websites are provided by Oxford in good faith and for information only Oxford disclaims any responsibility for the materials contained in any third party website referenced in this work www.Ebook777.com Contents List of Figures List of Tables Notes on Contributors vii ix x Introduction David Kennedy and Joseph E Stiglitz I Conceptual Foundations Law and Development Economics: Toward a New Alliance David Kennedy Creating the Institutional Foundations for a Market Economy Joseph E Stiglitz Analyzing Legal Formality and Informality: Lessons from the Land Titling and Microfinance Programs Antara Haldar and Joseph E Stiglitz 19 71 112 II Toward Law and Development Policies with Chinese Characteristics 10 Section introduction The Economics Behind Law in a Market Economy: Alternatives to the Neoliberal Orthodoxy Joseph E Stiglitz Some Caution about Property Rights as a Recipe for Economic Development David Kennedy Rural Land Rights in China Roy Prosterman The Role of Property Rights in Chinese Economic Transition Kenneth Ayotte and Patrick Bolton Institutional Design for China’s Innovation System: Implications for Intellectual Property Rights Joseph E Stiglitz The Evolution of China’s IPR System and its Impact on the Innovative Performance of MNCs and Local Firms in China Zheng Liang and Lan Xue Property and Intellectual Property Exchanges (PIPEs) in China since the 1990s: An Analysis of the Emergence and Regulatory Resolution of PIPEs and Their Comparative Advantage Over OTC Markets Heping Cao 149 153 187 214 236 247 278 315 vi Contents 11 The China Aviation Oil Episode: Law and Development in China and Singapore Curtis J Milhaupt and Katharina Pistor 12 Legal Deterrence: The Foundation of Corporate Governance—Evidence from China Zhong Zhang 13 Generosity and Participation: Variations in Urban China’s Minimum Livelihood Guarantee Policy Qin Gao and Carl Riskin 14 The Intergenerational Content of Social Spending: Health Care and Sustainable Growth in China Jean-Paul Fitoussi and Francesco Saraceno 15 The Hukou Reform and Unification of Rural–Urban Social Welfare Cai Fang 329 358 393 423 441 III Institutional Foundations for the Chinese Market Economy: The State Section introduction 16 Deregulation, Decentralization, and China’s Growth in Transition Justin Yifu Lin, Mingxing Liu, and Ran Tao 17 From Industrialization to Urbanization: The Social Consequences of Changing Fiscal Incentives on Local Governments’ Behavior James Kai-sing Kung, Chenggang Xu, and Feizhou Zhou 18 China’s Network Justice Benjamin L Liebman and Tim Wu 19 China’s Courts: Restricted Reform Benjamin L Liebman 455 467 Index 589 491 510 568 List of Figures 1.1 1.2 1.3 1.4 Theories, objectives, instruments, and law, 1950–70 Ideas and assumptions about law, 1950–80 Legal ideas and assumptions, 1980–2000 An alliance of heterogeneities 24 41 62 68 7.1 Optimal property rights: general principles 9.1 Timeline of major national and international IPR laws and regulations 243 9.2 The three stages of China’s patent system development 9.3 Distributions of annual applications for three kinds of patents received by SIPO 282 9.4 Distributions of annual grants for three kinds of patents received by SIPO 9.5 Total applications for three kinds of patents received from home and abroad 9.6 Distribution of annual applications for inventions received from home and abroad, 1985–2007 9.7 Distribution of annual grants for inventions received from home and abroad, 1985–2007 9.8 Distributions of annual applications for three kinds of patents received from abroad 9.9 Distributions of annual applications for three kinds of patents received from home 9.10 Distributions of annual grants for three kinds of patents received from abroad 9.11 Comparisons of the ratios of domestic and foreign in-service patent applications 9.12 Domestic applications for inventions according to in-service and nonservice, 1987–2007 9.13 The situation of patent implementations of different kinds of firms 9.14 Domestic in-service applications for inventions according to character of applicants, 1987–2007 9.15 Domestic in-service grants for inventions according to character of patentees, 1987–2007 9.16 Invention applications of foreign firms, 1985–2004 9.17 Invention applications of domestic firms and foreign firms, 1985–2004 9.18 10.1 10.2 11.1 Annual invention applications of five countries, 1985–2004 PIPEs-related ministries and commissions Transaction process in a typical property exchange CAO’s ties with China and Singapore 281 285 285 286 287 288 289 289 290 291 293 295 296 296 298 299 299 317 326 343 viii List of Figures 13.1 Total MLSA expenditures and number of recipients in urban China, 1996–2007 13.2 Nationwide city average assistance lines (monthly yuan) 13.3 Variation in city MLG assistance lines by region in CHIP 2002 sample 13.4 Variation in city MLG participation rate by region in CHIP 2002 sample 13.5 Correlation between city MLG assistance line and mean per capita income (annual amount in yuan) by region in CHIP 2002 sample 13.6 Correlation between city MLG participation rate and mean per capita income (annual amount in yuan) by region in CHIP 2002 sample 13.7 Variations in city MLG assistance line and participation rate by region in 35 large cities in 2005 13.8 Correlation between city per capita income and MLG assistance line in 35 large cities in 2002 and 2005 13.9 Correlation between log city per capita income and MLG participation rate in 35 large cities in 2002 and 2005 14.1 Macro aggregates as percentage of China’s GDP 14.2 Household savings rates in China 14.3 Share of private spending and health indicators, 2009 15.1 Usual urban population vs nonagricultural hukou population 16.1 16.2 16.3 16.4 Central and local revenue, 1982–1992 Revenue as a share of GDP, 1982–1992 Central and local revenue, 1993–2005 Revenue as a share of GDP, 1993–2005 17.1 Central and local governments’ budgetary revenues, 1978–2006 17.2 Share of construction and real-estate sectors in business tax, 2001–2004 17.3 Profits from land revenue in S County, Zhejiang Province, 2003 (million yuan) 17.4 Incidence and magnitude of land conversion, 1993–2005 17.5 Unauthorized land conversion: incidence and magnitude, 1993–2005 19.1 First-instance cases, mediation by People’s Mediations Committees, and court letters and visits, 1994–2006 19.2 Second-instance cases (appeals), 1994–2006 398 399 400 401 402 403 413 414 415 424 425 435 449 476 476 483 483 497 500 501 502 503 571 572 Free ebooks ==> www.Ebook777.com List of Tables 8.1 Comparing alternative systems 9.1 The total applications for three kinds of patents received from home and abroad, May 1985–December 2010 9.2 Total applications/grants/in force for three kinds of patents received from home and abroad, April 1985–December 2007 9.3 Foreign firms with over 1,000 invention applications 9.4 Correlation coefficients between patenting and market data of eleven industries 9.5 Three kinds of patents owned by China’s top ten automobile firms 9.6 Three kinds of patents owned by parent automobile companies in China 9.7 Patent fees domestic firms need to pay for each DVD 13.1 OLS regression results on city MLG (dibao) line using CHIP 2002 data 13.2 Dibao participation rates by income group, and distribution of dibao participants among income groups using CHIP 2002 data 13.3 Logistic regression results on family MLG participation status using CHIP 2002 data 13.4 OLS regression results on natural logarithm of city MLG line in 35 large cities in 2002 and 2005 13.5 OLS regression results on city MLSA participation rate in 35 large cities in 2002 and 2005 14.1 Selected health indicators, 2010 15.1 Annual growth rates of selected wages, 2003–8 (%) 15.2 Comparison of social insurance programs between migrant and local workers (2009, %) 19.1 Number of cases (first-instance and appeals) closed nationwide, 1994–2006 www.Ebook777.com 259 292 294 300 301 303 303 305 405 407 409 416 417 436 446 449 570 Index institutional design 1, 10, 20, 30–3, 93, 96, 458–9 for innovation system 247–75 institutional developments 80, 86, 129–30 institutional evolution 113 models of 115–31, 133 institutional factors 67–8 institutional forms 4, 7, 12–13, 38, 45, 62–3, 153 institutional foundations for market economy 71–108, 455 institutional framework 2, 6–7, 9, 13, 129, 319 institutional infrastructure 1, 79, 92–4, 322 institutional investments 361–2, 367 institutional investors 319, 361, 364, 367–8 institutional mutation 320, 322 institutional reforms 78, 80, 86, 92–100, 113, 135, 178 institutional shareholder activism 359, 367–9 institutional structures 1–2, 8–9, 22, 33, 112, 132, 249 institutionalism, economic 29, 42 institutions 14, 19–21, 58, 77–8, 86–7, 92–3, 174–7 financial see financial institutions international 28, 40, 44 legal 10, 20, 26, 28–9, 44, 64, 584 instructions 78, 533, 573 written 518, 522, 573 instrumentalism 28–9, 39, 61–2 bureaucratic 54, 205 legal 22–42, 68 insurance 43, 45, 54, 69, 86, 93, 122–4 private 105, 108, 435–6 schemes 43, 135, 424, 434 social 82, 99, 447, 451 Intel 300, 309 intellectual property 106, 157–8, 189–91, 247–50, 254, 265–70, 272–3 breadth of rights 262–3 cases 531, 533, 558 de jure and de facto fairness 265–6 exchanges (IPEs) 315, 322–3 global perspectives 268–71 and Huawei 300, 305–12 legal and policy frameworks 261–6 protection 6, 251, 262–3, 269, 278–80, 282, 311 regimes 89, 248–51, 253–7, 261, 263–73, 278–9, 308 development-oriented 249, 261, 266–8, 271 rights 13, 60, 93, 155, 158, 172, 195 evolution of system and impact on innovative performance 278–312 and innovation 247–75 limitations to curtail abuses of market power 263–4 and national innovation system 255–9 and TRIPS 268–70, 279, 281, 283 intergenerational content of social spending 13, 423–38 601 intergenerational equity 174, 432 intermediate courts 517, 524, 531, 536, 538, 557, 559–63 internal court networks 530, 535–8, 560–2 internal legitimacy 120, 127–8, 130 internal networks 530, 535–8, 555, 561–3 internal websites 537–8, 563 internalization 67, 236–7, 457 international financial institutions 1, 5–6, 39–40, 49 international human rights 39, 41, 44, 62 international institutions 28, 40, 44 international law 28, 39, 51, 70, 193, 546, 548 international legal order 25, 40 international markets 82–3, 304, 306, 310 international payments systems 54, 207 international standards/norms 50, 81, 206, 279–80, 305, 310, 579–81 international trade 59, 99, 279 system 47, 63 Internet 44, 255 and Chinese judges 517–39 communications practices within judiciary 527–39 external pressures 519–27 communications 513, 519, 543 external 530, 535 and legal system 510–65, 575–7 manhunt 512, 519, 543 revolution 322, 510, 513–15, 519, 527, 545 interventionism 47, 50, 52–3, 64, 66 intragenerational equity 432 invention patents 284–5, 287, 293, 302, 311 inventions 43, 253, 282–90, 292–6, 298–301, 310–11, 511 Investigation into China’s Peasants, An 523, 552 investment 24, 48, 54–7, 83–4, 120–1, 341–2, 344–5 fixed 121, 470, 474 institutional 361–2, 367 manufacturing 480, 482, 485 stimulation 83–5 treaties 25, 43, 54, 62 investors 55–6, 96–7, 334–5, 338–40, 343–4, 346–7, 352–4 foreign 38, 48–9, 52, 55–6, 58–61, 206–7, 350–1 institutional 319, 361, 364, 367–8 minority 340, 358 private 77, 207, 331, 337, 341, 483 rights 329, 331, 348 IPD see Initiative for Policy Dialogue IPEs see intellectual property, exchanges IPOs 340, 344, 358, 387 IPR see intellectual property, regime irrationalities 41, 62, 149, 155 ISI see import substitution industrialization Japan 103, 105, 216, 225, 229, 299–300, 331–2 Jia Changbin 336–9, 349–50, 352 602 Index Jiangsu 397, 411, 475, 480, 482, 536–7, 555 job growth 74, 82 joint ventures 4, 141, 302–3, 309–10, 333, 337 judges/judiciary 47–50, 462–4, 510–13, 540–6, 554–7, 559–65, 572–7 and Internet 517–39 judicial authorities 48, 455, 512, 576 judicial communications 531, 539–45 judicial discretion 35, 54, 211 judicial independence 7, 32, 351, 455, 528, 543, 580–2 judicial innovation 577 judicial legitimacy 513, 539 judicial networking 512, 544–6, 577 judicial networks 511–12, 543–5, 577, 585 see also court networks judicial power 47, 512, 539–45, 565, 580 judicial reform 47, 53, 61–2, 551, 583 judicial review 27–8, 41, 44, 46–9, 52, 54, 61 judicial system 48, 135, 456, 517 judicial training 47, 225, 572 judiciary see judges/judiciary jurisdiction 317, 324, 339, 372, 381, 496–7, 538 justice 354, 458, 522, 574–5 customary 123, 140 social 8–9, 93, 101, 123, 176–8, 431, 456 justifications 52, 64, 89, 171, 240, 263, 462 Katsh, E 510–11, 513, 546–7, 565 Kerala 73, 103 key technologies 283, 302 Khan poor 406–10, 412, 419 Khandker, S 124–5, 139 knowledge diffusion/dissemination 260, 262, 282, 284, 287, 306 gap 247–8 as public good 251–5, 268 La Porta, R 329–30, 345, 348, 351, 354, 371 labor 13, 76–7, 87–8, 171–3, 444, 446–7, 450–3 cheap 451, 473, 485 surplus 36, 443, 445–6, 452 unlimited supply of 444–6, 451 labor-intensive sectors 472–3, 485–7 labor markets 126, 364, 446, 469 development 444 labor mobility 99, 173, 442–5, 451, 453, 459 labor productivity 24, 173, 443 labor rights 150, 173 labor shortages 446–8, 450 labor supply 430, 446 land 121–2, 167–8, 170–2, 214–23, 225–31, 237–8, 500–5 agricultural 189, 191, 214–15, 217, 226–7, 506 arable see arable land certificates 216, 221 common 189–90, 237 contracted 218–21, 231, 450–1 contracts 221, 224 conversion 492–3, 498, 500–2, 504–6 income 492, 500–1 cultivated 221, 230, 501 developmentalism 480–3 disputes 119, 221, 225, 505 markets 118, 170, 219, 226 ownership 118, 139, 171–2, 209, 225 and market economy 222–3 psychological impact 223 parcels 206, 209, 216–17, 223, 226, 237, 491 prices 501–2 reform 26, 57, 121, 138, 178, 206, 208–10 reforms 24, 209–10, 216, 229 revenues 492, 500–1 rights 161, 492, 506 long-term 215, 226–7 rural 214–33 tenure rights in recent practice 218–20 since 1949 215–18 thirty-year rights 217–19, 222–8, 230 titling 119, 121–2, 126, 133, 136, 138, 171 voucher program 452–3 Land Management Law (LML) 217–18, 220, 227, 230, 504–5 land-takings 217, 219–21 see also expropriations landlessness 122, 138, 171–2 landlords 180, 190, 215, 226 Lanzhou 419–20 Latin America 27–8, 123 latitude 37, 119, 166 lawsuits 304, 308, 347, 378, 382, 526, 578 lawyers 12, 33–4, 39–40, 208, 519–20, 531, 578 leadership 297, 348, 351, 432, 437, 442, 580 central 470–2, 487 party 519, 574, 584 Lee Kuan Yew 342 legal academy 9–10, 15, 65 legal analysis 11, 32, 38, 46, 50, 64, 150 legal deterrence and corporate governance 358–87 legal elites 28, 38 legal empowerment 14, 112, 114, 134 legal entitlements 26, 35, 54–5, 62, 192, 201, 210 legal environment 27, 236, 527 legal experts 20, 31–3, 35 legal formality 21, 53, 112–41, 205 legal formalization 54–8, 113, 130, 132, 205–6 legal forms 3, 7–8, 32, 58–9 legal frameworks 4–5, 8–10, 44–5, 71, 172–3, 182–3, 271 basic 362, 458 legal governance 331, 348 legal ideas 31, 39, 43, 62, 65 and economic ideas 23–9 and economic policy design 29–33 legal institutions 10, 20, 26, 28–9, 44, 64, 584 legal instrumentalism 22–42, 68 legal instruments 23, 26, 31–2, 35 Index legal interpretation 13, 46, 50–1, 67–8 legal liability 359–60, 364, 370, 372–4 legal norms 26, 56, 67, 69, 569, 577 legal observers 346 legal orders 26, 31, 35–6, 41, 45, 204–5, 211–12 of developed economies 55, 205 international 25, 40 private 62, 192, 194–5, 199 legal origins 329, 331 legal orthodoxy 6–8, 12, 14, 187, 192, 202 legal pluralism 39, 41–2, 62, 68 legal pragmatism 41 legal privileges 38, 158, 187, 195–6 legal reasoning 10, 44, 50, 52, 61, 63, 67–8 legal reforms 20, 43–6, 62, 65, 113–14, 134, 347–8 legal regimes 11, 30–1, 43, 50–1, 68–9, 187–9, 208 legal sanctions 359, 371–4, 381–3 legal science 20–2, 26–7, 29, 32, 34–7, 46–7, 56 legal sociology 39, 41–2, 68 legal standards 50, 463, 577 legal structures 4–5, 8, 10–11, 31, 113, 136, 178 legal systems 131–2, 329–31, 510–11, 515–17, 526–7, 531–4, 539–46 fair 539, 546 formal 117–19, 127–8, 131, 133, 210, 345 legal theory 24, 27, 33, 36, 42, 45, 53 legal titles 113, 117, 121 legal transplants 115, 134, 169 relevance for China 4–6 legal vernacular 52, 61–2, 66, 69 legal vocabulary 27, 61, 66 legislative positivism 45–6 legislatures 26, 29, 31, 39, 49, 462, 540 legitimacy 46, 65, 118–19, 452, 512, 539–40, 543–5 internal 120, 127–8, 130 judicial 513, 539 of property 168 lenders 96, 98, 115–16, 136, 138, 239–40, 244 lending 82, 96, 124, 136, 139–40, 240, 244 group 126, 135 predatory 9, 81, 122, 131, 155, 177 leniency 158, 359, 381–2, 419, 542 Lewisian turning point 442, 445–8, 451–2 liability 13, 149, 160, 359–60, 364, 372–4, 386 civil 31–2, 335, 360 systems 159–60, 265 Liaoning 397, 411, 475, 524, 537, 556 liberalization 44, 52, 76, 97, 107 licensing 24, 30–1, 60, 258, 263, 302–3, 309–10 compulsory 191, 195, 250, 263–6, 269–70, 273, 275 liens 239, 242, 244 life expectancy 73–4, 103–4, 217, 227, 366, 427, 435 lifesaving drugs 248, 256, 269–70 lifesaving medicines 6, 264, 266, 269 listed companies 325–6, 344, 353, 360–3, 374–80, 384–5, 387 603 listings 326, 337, 340, 343, 346, 358–61 litigants 348, 462, 532, 569, 578, 580–1 litigation 48, 254, 272–3, 304, 347, 569, 578 administrative 347, 568, 577–9 constitutional 578–9 costs 161, 273, 347, 447 patents 297, 304, 308, 310 Liu Yong 511, 524, 526, 542, 552–3 livable cities 72, 86, 91–2, 461 living standards 73, 82, 86, 90, 173, 216, 468 LML see Land Management Law loans 115–16, 118, 125, 136–7, 139–40, 239–42, 244–5 contracts 116, 240–2 guarantees 375–8, 477 mortgage 117, 137 local authorities 13, 99–100, 320–1, 460–1, 499, 505–6, 521–3 local banks 97, 321–2, 377, 479 local branches 317, 322, 479 local bureaucrats 337, 344 local cadres 215, 226–7 local communities 64, 94–5, 427, 460 local courts 170, 523, 528, 536, 560–1, 564, 576–7 local development 452, 472 local developmentalism 487 protectionist 477–8 local dibao lines 406, 408, 412, 420 local economic growth 491, 496 local economies 207, 484, 493, 504 local elites 38, 123 local extra-budgetary revenue 477, 481, 483, 488 local finance 479, 488, 498–9 local firms 338, 471, 474–5, 477–8, 498 local fiscal capacity 404, 406, 418, 420 local government-owned enterprises 474–5, 478, 484 local governments 394–5, 447, 450–2, 467–75, 477–88, 491–500, 504 local hukou 450–1, 453 local knowledge 55, 206 local level 99–100, 280, 448, 456, 458, 470, 476–8 local markets 206, 307, 321, 477 local media 519–20, 523, 526, 531, 551 local officials 44, 224–5, 232, 492–4, 496, 498, 503–4 local public goods 457, 496 local revenues 232, 469, 476, 482–4 local SOEs (state-owned enterprises) 472, 475, 477–9, 483, 486, 488 local taxes 479–80, 482 local workers 445–6, 449, 451, 453 log city per capita income 403, 413–15, 417–18 long-term investments 217–18 long-term land rights 215, 226–7 long-term sustainability 29 losers 10, 32, 56, 167, 192, 205, 253 losses 10, 122, 304, 333–4, 365–7, 371, 385–6 trading 333–5 604 Index lost revenues 499–500 low-level equilibrium 11, 58 lower courts 517, 528, 532, 535–8, 561, 563, 569 loyalty 574 duty of 363, 368–9, 372–3, 385–6 lump sum redistributions 15, 177, 180 Luo Gan 574, 584 macro-level data 397–8, 413 macro-policy environment 469–70, 487 macroeconomic downturn 174, 444 macroeconomic imbalances 84, 423 macroeconomic stability 21, 63 Madrid Agreement Concerning the International Registration of Marks 280–1 mafia monopolies 59 malaria 89, 257–8 management 163–4, 166, 181, 183, 308, 364–5, 367–70 managerial capitalism 166 managerial fraud 372, 374 managerial misappropriation 360, 370, 372–4, 386 managerial misbehavior 363–6, 373, 385 managerial shirking 359, 367–9 managers 164–5, 181, 239–40, 318, 363–73, 379–81, 385–6 top 361, 378, 380 mandatory disclosure 362, 372, 375 manufacturing 72, 77, 84, 446, 472, 479–82 capital 482, 485 investment 480, 482, 485 marginal contributions 253, 460 marginal costs 256, 273 market actors 47, 49, 65, 169, 202, 204 market-based corporate governance mechanisms 359–60, 364, 372, 379–80, 383 market capitalism 3, 149 market competition 360, 364–5, 367, 369, 379, 382, 385–6 market discipline 360, 363–74, 384, 386 market economy 1–9, 12–13, 149–50, 153, 165–7, 177–9, 278–80 with Chinese characteristics 74–7 distinctive 2, 4, 74, 247 institutional foundations for 71–108, 455–64 market efficacy 374, 383 market efficiency 6–7, 29, 67, 101, 153–5, 187, 193 market elements 337, 485 market equilibrium 180–1 market failures 52–3, 61–2, 77, 96, 127–8, 155, 173–4 market forces 7, 91, 150, 188, 203–4, 258, 386 market fundamentalism 12, 150 market imperfections 50, 126–7, 170 capital 82, 172 market institutions 44, 98, 115, 278 market-makers 318, 320, 323–4, 326 market mechanisms 127–8, 358–60, 364, 372–4, 379, 382, 485 market-oriented reforms 360, 383, 442, 446, 486 market outcomes 8, 156 market participants 254, 259, 320, 342 market power 79, 128, 154, 173, 253, 263 market-preserving federalism 467–8, 484 market prices 62, 66, 155, 163, 192, 203, 272 market primacy 364, 372–4, 383 market transactions 47, 64, 129, 149–50 market utility 373–4 market value 157, 167, 196, 222–3, 362, 383, 460 marketability 218, 365 marketing 79, 248, 256, 258, 443 boards 24, 26 marketization 329, 471, 473, 478–9, 487 markets 7–11, 149–51, 154–6, 250–3, 317–21, 358–61, 364–71 black 26, 30, 36, 48 capital see capital markets competitive 106, 154, 177, 180, 258–9, 360, 364 credit 115–16, 170, 239 disciplinary function 359, 361, 364–8, 378–9 financial 5, 80–1, 95–8, 107, 245, 329, 478–9 international 82–3, 304, 306, 310 labor see labor markets land 118, 170, 219, 226 local 206, 307, 321, 477 open 46, 207 OTC-style 315, 317–18, 320–4 private 93, 131, 206 risk 154–5, 163 rural 228, 307 stock 44, 319, 324, 340, 344, 358–9, 361–2 unfettered 91, 101, 162, 174, 177, 179 MAS see Monetary Authority of Singapore MCA see Ministry of Civil Affairs media 347–8, 510–11, 517–24, 526–7, 541–3, 575, 577–80 commercial 546, 575 commercialized 518, 521, 533, 549 coverage 515, 520–1, 526, 573, 575 local 519–20, 523, 526, 531, 551 official 520–1, 523–6, 551 pressure 511, 519, 523, 575 reports 74, 521, 530, 568, 572 traditional 520, 522–3, 541, 551 mediation 569–71, 582–3 medicines 89, 172, 256, 258 lifesaving 6, 264, 266, 269 merchants 353–4 mergers 309–10, 337 Mexico 27, 51, 66, 135, 209 micro-data 396–7 micro-institutions 469, 472–3 Microcredit Regulatory Authority (MRA) 129 Index microfinance 113–14, 123–6, 128–31, 133–4, 138–40 see also Yunus, M organizations 114, 117, 124, 129–30, 137, 140 replicas 114, 135 schemes 112–13, 123, 126, 131, 135, 139 Microsoft 106, 254, 263–4, 274–5, 300, 304, 309 migrant workers 182, 442, 444–53, 520, 525, 554 migrants 173, 395, 418, 441, 445–50, 452, 520 Mihov, I 430 MII (Ministry of Information Industry) 303, 551 Millennium Development Goals 114, 271 minimal compensation 492, 504–6 Minimum Livelihood Guarantee see MLG minimum wages 66, 173, 398, 403–5, 412, 416–20, 447–8 ministries 221, 316–17, 323, 325, 354, 493 Ministry of Civil Affairs (MCA) 394–6, 398–400, 406, 420 Ministry of Finance 341–3, 347, 469 Ministry of Information Industry (MII) 303, 551 Ministry of Land and Resources 500–4, 507 minority investors 340, 358 minority shareholders 161, 335, 339, 350, 355, 360, 378–9 misappropriated funds 375–6 misappropriation 331, 359–60, 363, 365–7, 369–83, 385–6 in listed companies 375–7 managerial 360, 370, 372–4, 386 one-off 366–8, 371 systematic 374, 380 and underdeterrence 377–80 misbehavior 129, 359, 363, 365–9, 371–2, 375 managerial 363–6, 373, 385 Mitsubishi 300, 305 MLG (Minimum Livelihood Guarantee - dibao) 13, 393–421 administrative data 414–18 aggregate trends 398–400 assistance lines 396–402, 413–15, 419 and city average income level 401–2, 413 city variations 400–18 generosity 394–6, 400–1, 404, 413 household participation variations 406–12 observations and conclusions 418–20 participation rates 396–7, 400–3, 413–16, 418 policy background and existing evidence 395–6 results from 2005 macro-data 413–18 results from CHIP 2002 data 400–12 study data and methods 396–8 MLG (Minimum Livelihood Guarantee) lines 395, 402–8, 412, 414–20 targets 409–10, 412 MNCs see multinationals mobile capital 478, 485 mobility 605 labor 99, 173, 442–5, 451, 453, 459 social 431 modernization 22, 27, 29, 36, 38, 297 Monetary Authority of Singapore (MAS) 335, 338–9, 342, 349, 352 monetary policy 24, 84, 479 monitoring 120, 158, 240, 242, 244, 369–70, 537–8 capacities 344, 498 peer 113, 117, 120, 126, 135, 137 monopolies 68, 99, 252, 258–9, 304, 323–4, 492–3 mafia 59 monopolization 260, 264 monopoly power 50, 67, 89, 158, 251–5, 257–9, 263 monopoly prices 252, 258, 260 monopoly profits 256, 258 monopoly rights 67, 506 moral hazard 120, 181, 320, 434 Morduch, J 137, 139 mortgages 8, 96, 98, 117, 125, 136, 244 motives 347, 442, 450–2 Motorola 309–10 multinationals 278–9, 284, 290, 295, 305–9, 311 IPR strategies in China 297–305 municipal governments 451, 474, 503, 505 municipalities 397, 407, 419, 451–3, 473, 502, 517 murder 521–2, 551 music 196–7 Nanjing 307, 309, 413 National Bureau of Statistics 74, 108, 423, 437, 446, 449, 497 National Congresses 384, 444, 497, 583 national development 6, 27, 46, 198 plans 26, 32 National Development and Reform Commission (NDRC) 317, 323, 325, 446 national economic development 26, 38 National People’s Congress 217, 220, 230, 282–3, 517, 532, 577 national sovereignty see sovereignty natural resources 15, 52, 72, 74, 86, 91, 209 Naughton, B 316, 343, 468, 478, 493, 507 NCMS see New Cooperative Medical System NDRC see National Development and Reform Commission negative covenants 241, 243, 245 negative externalities 15, 149, 161, 181 negative information 344, 366, 375 negative pledge clauses 240–1 neighborhoods 167, 196–7, 278, 456 neighbors 55–6, 167, 191, 197, 205–6, 320, 420 neoclassical economics 10, 14, 174, 201, 379 neoliberal consensus 6, 43, 47, 63 neoliberal development experts 45, 48 neoliberal enthusiasm 44, 46, 63 neoliberal era/period 21, 29, 40, 43–4, 53, 57, 63–4 606 Index neoliberal law 43–63, 154, 174, 178 and development economics 61–3 neoliberal orthodoxy 14, 22, 150, 455, 458 alternatives to 153–83 economic critique 8–9 historical/empirical critique 7–8 legal critique 9–12 unfortunate importance 6–12 neoliberal program 43, 45, 49 neoliberal reforms 49, 64 neoliberalism 14, 19, 43, 50, 53, 61, 64 law of see neoliberal law legal theory and program 43–7, 53 Netherlands 299–300 network externalities 305 network justice 510–65 networking horizontal 463, 512, 539, 545 judicial 512, 544–6, 577 networks 128–9, 310, 322, 325–6, 514, 535–8, 560–1 court see courts, networks internal 530, 535–8, 555, 561–3 judicial 511–12, 543, 545, 577, 585 social 125, 140 New Cooperative Medical System (NCMS) 432–3 new entrants 88, 332, 343, 460 New International Economic Order (NIEO) 38–40, 53 new technologies 93, 282, 305, 510, 515, 542 New York Stock Exchange 176, 340, 386 New York Times 135, 352–3, 438, 525, 547 news content 522–3, 551 newspapers 336, 520–1, 532, 551–2, 560, 577 Party mouthpiece 518, 523 Next Generation Network (NGN) 310 Nie Shubin 522–3, 526, 542, 549–51, 554 NIEO (New International Economic Order) 38–40, 53 Ningbo 397, 413 nominal owners 57, 492, 505 non-arable usage 500, 504–5 non-tariff barriers 51, 62, 66–7 nonagricultural hukou 445, 448–50 nonagricultural purposes 215, 226, 232 noncompliance 30, 35–6, 39, 41–2, 68, 117, 573 nonfinancial utility 367, 385–6 nongovernmental organizations 1, 137, 139, 347 nonlocal commodities 477 nonlocal enterprises 477–8 nonmarket institutions 174, 182 nonrivalrous consumption 252, 273 nonsmokers 15, 154, 156 nonstate sector 345–6, 495–6 nontariff barriers 51, 66–7 nontradable shares 319, 353, 361 norms 3, 34–5, 115–17, 127, 130, 141, 577 informal 114–15, 127, 133, 138 international 579–81 legal 26, 56, 67, 69, 569, 577 social 112, 117, 130, 133, 367, 386 novelty 262, 266, 316 absolute 283 obligations 2, 162, 166, 170, 172–4, 188–9, 198–201 international 46, 62 and rights in interdependent world 156–9 social 193, 200 observers 53, 305, 338, 349, 399, 524–5, 543 legal 346 obviousness 262 off-budget revenues see extra-budgetary revenues official media 520–1, 523–6, 551 officials 34, 45, 99, 193, 350–1, 511, 575–6 court 521, 526, 532, 534–5, 538, 559, 576 local 44, 224–5, 232, 492–4, 496, 498, 503–4 Party 332, 511, 518, 526, 542, 573, 575 propaganda 521, 524, 550, 563 provincial 494–5 regional 494–5, 502 Oi, J 141, 316, 343, 447, 467, 495–6, 507 oil prices 334, 351 oil trading 333–4 one-child policy 72, 82, 174, 437 one-off duty-of-loyalty violations 369, 372 one-off misappropriation 366–8, 370–1 one-off misbehavior 366, 373, 385 online media 520, 522–3 open markets 46, 207 open-source software 261 optimal property rights 239, 242–3 orthodoxy 2, 6, 12, 14, 113, 150, 541 legal 6–8, 12, 14, 187, 192 neoliberal 6–12, 14, 22, 150, 153–4, 160, 179 OTC(-style) markets 315, 317–18, 320–4 outsiders 318–19, 321 overborrowing 240, 244 overdeterrence 374 overgrazing 171, 237–8 overheating, economic 470–1 overinvestment 240, 468, 470–1 ownership 121, 161–2, 181–2, 190–1, 202–4, 242–3, 379 claims 168, 242 land 118, 139, 171–2, 209, 225 meaning 161–3 private 132, 209, 214–16, 222–7, 379, 393, 472 public 132, 428, 472, 491 rights 121–2, 232, 254, 361, 478 structure 132, 333 and use 199–201 Palli Karma Sahayak Foundation (PKSF) 129 Panasonic 300, 305 parcels of land 206, 209, 216–17, 223, 226, 237, 491 parent companies 302, 331–5, 339–40, 342, 344, 349 Index parent countries 300–1 parents 82, 172, 334–5, 395, 430–1, 444 Pareto efficiency 8–9, 75, 151, 154 Pareto-optimal arrangements 44 Pareto-superior equilibrium 183 Paris Convention for the Protection of Industrial Property 280–1 particularistic ties see guanxi party authority 526, 574, 581 party leadership 519, 574, 584 Party officials 332, 511, 518, 526, 542, 573, 575 party-state 514, 518–19, 540–1, 564, 568, 571, 578–81 actors 541, 575, 577, 580–1 institutions 527, 533, 540, 579–80 intervention 511, 526–7 officials 526–7, 546, 573, 576–9, 581 party superiors 568, 575 Patent Cooperation Treaty (PCT) 280–1, 308, 310–11 patenting behaviors 279, 284, 305 patents 87–9, 93, 106, 190, 195, 248–311, 558 see also intellectual property alliances 304–5 applications 271, 283–4, 287–8, 291, 295, 308, 310 designs 282–5, 287–90, 293, 308–9, 311 domestic applications 286–8, 290–1, 293 domestic invention applications 286–7, 289, 291 duration of protection 283, 286 evergreening 262, 274–5 fees 304–5 foreign 301 foreign applications 283–4, 286–8, 290–1, 295, 298, 308 on genes 88–9, 106, 262, 275 granting and enforcement process 264–5 implementations 293–7 in-service applications 290–1, 293, 296 infringement 265, 308 invention 284–5, 287, 293, 302, 311 applications 286–9, 291, 295, 298–301, 308 licensing 309–10 life 250, 255 litigation 297, 304, 308, 310 nonservice applications 291–3 novelty 262, 266, 316 obviousness 262 Patent Law 254, 280–91, 311 petit 282, 284, 287, 290, 293 see also designs; utility models pools 263, 305 protection 250, 275, 283 rights 262, 264, 283–4 and standards 305 system 88–9, 252–4, 257–8, 260–1, 265, 282–4, 311 evolution 279–91 thickets 106, 254, 293 607 utility models 282–90, 292–4, 303, 311 validity 291–3 path dependence 67–8, 211 PCT see Patent Cooperation Treaty peer monitoring 113, 117, 120, 126, 135, 137 Peking University 3, 14, 305, 309, 536, 549, 558 penalties 30, 33–5, 37, 159–60, 196–7, 375–6, 378 administrative 359–60, 371–2, 377, 381 pensions 135, 396, 445, 448–9 People’s Bank of China 384, 479 People’s Communes 469–71 People’s Congresses 231, 518, 533, 578, 580 People’s Congresses, National 217, 220, 230, 282–3, 517, 532, 577 People’s Court News 528, 532–3, 560, 563 People’s Court Press 536, 561–2 People’s Mediation Committees 569, 571, 582 per capita GDP 75, 108, 247, 273, 467, 495, 548 per capita incomes 71, 102, 394–8, 401–7, 412–19 city 397–8, 401, 404, 412–15, 417, 419 household 394, 406–7, 412 performance economic 1, 3, 5, 48, 52–3, 61, 455 growth 423, 429 performance-based remuneration 360, 363–4, 367–9, 380 performance indicators 139, 495 permissions 40–2, 68, 195–6, 280, 283, 321, 351 personal interests 366, 370 Peru 117, 121, 130, 133–6, 138 titling program 115, 135–6 petit patents 282, 284, 287, 290, 293 petitions 520, 549, 575–6 P&G 300 Philippines 135 Philips 300, 305 pilot reforms 450, 471 PIPEs (Property and Intellectual Property Exchanges) 315–27 advantages over OTC-style markets 324 current status 323–4 further studies 325 from OTCs to 320–3 policy proposals 324–5 transaction process 325–6 piracy 304 Pitt, M 125, 139 PKSF (Palli Karma Sahayak Foundation) 129 planned economy 92, 279, 318, 337, 442, 451, 467–71 planning 57, 78–80, 91, 104, 444, 446, 455 centralized 278, 297, 471, 515 economy 442, 469 period 472–3, 485 Platteau, J.P 118–19, 123 pluralism, legal 39, 41–2, 62, 68 PMSI (purchase money security interest) 244 police 35, 59, 339, 370, 376, 453, 520–2 policies, deregulatory 473, 487 608 Index policy frameworks 5–6, 261 policy instruments 23–4, 27, 30–5, 38–9, 41 policy vernacular 53, 66, 70 policymakers 2, 9–10, 20–3, 30, 32, 208–9, 226–7 policymaking 19, 22, 61–2, 65 development 12, 22, 25, 29–30, 38, 47, 69 political authorities 26, 336, 340 political choices 4–5, 21, 50, 52–4, 60, 63, 69 political contestation 59–60 political economy 22, 45, 47, 51, 175, 279, 315–16 political influence 94, 101, 180, 463, 586 political intervention 511–12, 519, 526, 541–2 political power 128, 150, 514, 516, 539 political pressures 84–5, 168, 510, 542 political processes 9, 29, 43, 73, 100, 156, 463–4 political struggles 41, 189, 191–2, 202–3 political system 350, 510–11, 517–18, 543, 545, 574–5, 580 politics 47, 66, 69–70, 190, 584 pollution 90, 94, 157–9, 167, 175 Poncet, S 468, 478 poor families/households 12, 124, 128–9, 138, 412, 430, 433 positional conflicts 363, 365–7 positivism 27, 29, 41, 61 administrative 28, 47 instrumental 40 legislative 45–6 Posner, R 9, 15, 134, 516, 548 possession 20, 56, 117, 194, 200, 218, 226 exclusive 231 post-neoliberal alliance, opportunities for 63–70 post-neoliberal period 22, 40, 63 post-transition economies 55, 205 postwar development experts 23–4, 26, 42 state 22–43, 45, 47 postwar period 19, 23, 29, 31, 34, 36, 38 Potter, P 132, 347 poverty 72, 75, 113–14, 124, 394, 396, 415 see also Khan poor absolute 418–19 rates 416, 418 reduction 39, 71, 73, 93, 124, 129, 138–9 rural 209–10 urban 393–4, 399, 403, 406, 418–19 power 194–5, 215–16, 362, 458–9, 517–18, 539, 541–6 bargaining 10–11, 15, 20, 47, 62, 67–8, 149–50 decision-making 122, 370, 471–2 economic 47, 136, 150, 455 formal 131, 517–18, 578 market 79, 128, 154, 173, 253, 263 monopoly 50, 67, 89, 158, 251–5, 257–9, 263 political 128, 150, 514, 516, 539 sovereign 25–6, 193 power allocations 48, 123, 198 PPP see purchasing power parity Pradhan, M 426 Prasad, E 107, 425–6 pre-reform period 443, 468 precautionary savings 82, 86, 108, 430, 437 precedent 162, 245, 513, 529, 531, 544, 555 informal 529, 533–4, 545 system 510, 548, 564–5 precision 34, 44, 198 predatory lending 9, 81, 122, 131, 155, 177 premier locations 501–2 price deflators, provincial 398, 402, 405, 416–17 price discrimination 59, 274, 324 price regulation 427–8 price signaling 54, 205, 210 price system 42, 91, 100, 160, 202–3 dual-track 104, 473 prices 60, 85, 89, 158–60, 203–6, 258, 268–9 market 62, 66, 155, 163, 192, 203, 272 oil 334, 351 shares 358, 361, 364–5, 374, 377, 379 undistorted 45–6, 58 primacy, market 364, 372, 374, 383 printing 511, 513, 547, 560, 564–5 prison 75, 338, 380, 382, 387, 511, 520–1 private actors 25, 42, 48, 190, 205 private arrangements 25, 27, 29, 42, 47, 193–4, 211 private authority 25, 194 private consumption 105, 424, 430 private enforcement 52, 180, 339 private entitlements 10, 46, 201, 204, 208 private health care system 77, 105 private insurance 105, 108, 435–6 private interests 40, 46, 155 private investors 77, 207, 331, 337, 341, 483 private land 190, 208, 210 private law 21, 26–9, 42, 44–5, 62, 193, 201–2 private legal order 62, 192, 194–5, 199 private markets 93, 131, 206 private order 188 and public order 192–5 private ordering 26, 28, 32, 39–41, 46, 50 private ownership 132, 209, 214–16, 222–7, 379, 393, 472 and farmers 225–7 private parties 44, 163, 183, 203, 223, 238, 569 private property 112, 131–2, 195, 231, 315, 393, 459 rights 112, 131, 194, 491, 507 private rights 25, 27, 35, 46, 52, 61–3, 193–4 private sector 43, 64, 77, 79, 100, 117, 247 private spending 90, 426, 431, 435 privatizations 21, 43–4, 60, 379, 460–1, 478–9, 498–9 privileges 20, 36, 41–2, 157–8, 166–7, 170, 197 legal 38, 158, 187, 195–6 prize system 89, 107, 257–61, 272, 274 probability 239, 241–2, 396, 407–8, 419, 462 procuratorates 518, 522, 533, 546, 555, 573–4, 579–80 Index professional identity, development of 539, 544, 577 profit-maximizing firms 149, 154 profit tax 492, 496, 499 profitability 202, 404–6, 484, 488, 496 profits 131, 226, 255–6, 302–3, 375–6, 435–6, 475 high 403–5, 419 marginal 403, 405 monopoly 256, 258 windfall 492, 503, 506 promoters 360–1 Propaganda Department 519, 521–2 propaganda officials 521, 524, 550, 563 court 533, 538 property 1–2, 9–12, 54–6, 121, 203–7, 209–12, 237–44 allocation 2, 201 complex nature 159–69 as distribution 196–9 duties 199–201 entitlements 21, 52, 192, 195–6, 198–9 and history of struggle over modes of economic life 188–92 intellectual see intellectual property law 26, 56, 187–90, 192–6, 227–8, 231, 238–9 analytics 196, 204–8 new Property Law 220–4, 243–4 legitimacy of 168 owners 11, 167, 181, 196–7, 199–200, 236, 262 ownership 120, 124, 151, 200 private 131–2, 195, 231, 315, 393, 459 protection 207, 212 regimes 170, 187–91, 199, 203–4, 211–12 rights 154–64, 166–9, 177–8, 187–9, 191–7, 209–13, 236–43 analytics and case for entitlement reform 208–12 approach 12, 116, 170 assignment of 11, 15, 154–5, 157–8, 168–71, 178–9, 236–7 broader definition 172–4 clear and strong 155–6, 168–9, 187–8, 191–2, 202, 204–9, 211–12 and credit markets 170 and economic development 187–212 and efficiency 172 imperfect 171 law 168–9, 238–9, 242–5 optimal 239, 242–3 private 131, 194, 491, 507 role in Chinese economic transition 236–45 security of 156, 166–9 well-defined 132, 170, 236–7, 245 and sovereignty 192–5 values 165, 167, 200 Property and Intellectual Property Exchanges see PIPEs 609 Property Exchanges (PEs) 14, 323, 325–6 property rights, slicing and dicing 161 property taxes 200 prosecution 381, 555 prosecutorial discretion 35, 39 protectionist local developmentalism 477–8 protectionist policies 84, 478 protective function of law 348–9 protests 140, 321, 575–6, 583 provinces 402–4, 406–7, 433–4, 458–61, 474–5, 494–6, 507 central 320, 415, 536 provincial capital cities 397, 403–7, 420, 445, 532 provincial governments 460–1, 474, 479, 481–2, 484 provincial high courts 517, 519, 522, 528, 560–1 provincial leaders 494–5 provincial officials 494–5 provincial price deflators 398, 402, 405, 416–17 proxies 342, 404, 415, 418, 435 public authority 31, 44, 193, 195 public censure 375, 378, 387 public choice theory 36, 41, 64, 67–8 public discretion 47, 58 public enforcement 180, 265 see also enforcement public finance 23, 268, 446 public goods 7, 19, 63–4, 67–8, 154, 325–6, 430–1 knowledge as 251–5, 268 local 457, 496 provision of 149, 193, 427, 432–3, 457 public health indicators 428, 433 public law 21, 25–6, 28, 39, 42, 54, 194 public opinion 512–13, 515, 519, 524, 526, 542–3, 549 public order, and private order 192–5 public ownership 132, 428, 472, 491 public power 41, 190, 194 public-private partnerships 40, 62 public registries 242, 245 public regulation 188, 194–5 public sector 76, 86, 99–100, 172, 321–2, 457 public services 173, 182, 423, 427, 431, 447–51, 481 see also public goods public shareholders 343, 345, 375 public spending 404, 423, 430–1, 434, 436 public-style goods 320–3, 326 public websites 532–5, 557 publicity 218, 223–4, 230, 325, 372 punishment 35, 100, 120, 224, 349, 371, 381–2 criminal 359–60, 371–2 punitive damages 34–5, 160 purchase money security interest (PMSI) 244 purchasing power parity (PPP) 102, 108, 229, 273, 436 Qian, Y 131, 134, 316, 467, 473–5, 479, 494–6 Qiao Yanqin 524, 552 610 Index Qingdao 397, 413 qualifications 11–12, 25, 326 quality 91, 127, 284, 329, 428, 431–2, 548 quiet enjoyment 55–6, 196, 206 quotas 49, 216, 450–1, 453, 473, 495, 502 race to the bottom 461, 480, 482, 485–6 rapid growth 7, 73–4, 84, 94, 99, 191, 472 rationality 54, 205, 386 readjustments 217–18, 221, 228–31 Real Business Cycles (RBC) 429 real estate 11, 83, 94, 135, 161, 206, 500–1 developments 94, 105, 492, 499, 504, 506 sector 491–2, 500, 506 reallocation 10, 121–2, 169, 189 land 505–6 rearrangement of entitlements 201–4 reassignment of rights 138, 169–70, 506 recentralization 470–1, 478, 480, 500 fiscal 468, 479–80, 482, 486–7, 491–3 reciprocal rights 48, 188, 197 reclamation of land 450, 452 recontracting 219, 230–1 redistributions 9, 15, 61, 95, 121, 150, 176–9 lump sum 15, 177, 180 reforms 317–18, 432–4, 441–6, 448, 450–3, 471–3, 572–3 court 568–86 economic 100, 278–80, 282, 441–3, 456, 493, 499 fiscal 468, 480–1, 495–500 hukou 441–52 institutional 78, 80, 86, 92–100, 113, 135, 178 judicial 47, 53, 61–2, 551, 583 land 24, 209–10, 216, 229 legal 20, 43–6, 62, 65, 113–14, 134, 347–8 market-oriented 360, 383, 442, 446, 486 neoliberal 49, 64 pilot 450, 471 reform period 426–7, 429, 442, 468, 471, 473–4, 488 early 468, 471, 477, 480, 485 reform strategy 473, 491, 493 regional competition 344, 478, 480, 482–3, 485, 487, 491 regional decentralization 491–5 authoritarianism 493–5 regional economic growth 494–5 regional government 317, 325, 346, 493–5, 497, 502–3, 507 regional officials 494–5, 502 regions 344–5, 394–6, 400–5, 412–13, 443–4, 474–5, 494 agriculture-based 481, 486 western 190, 396–7, 400–3, 406, 451 registration 116, 122–3, 240, 281, 325–6, 442 household see hukou regression models 397–8, 402, 407, 420 regulatory capacity 25, 54, 64, 67 regulatory gaps 315, 323 regulatory policies 9, 98, 107, 159 regulatory takings 163, 181 Reinganum, J.F 516, 548, 564 relational contracts 59, 245 Ren Zhengfei 306 rent-seeking 41, 43–4, 48, 52, 60, 64, 66 rents 47, 67–8, 94, 177–8, 194, 248–9, 267 resource 86 repayment rates 117, 137, 141 repayment schedules 119, 134 repayments 116, 128, 136, 232, 376 repeated games 136, 457 representative cases 528, 537 reputations 48, 141, 351, 386, 533, 565 research 8, 78, 87–8, 99, 247–8, 250–62, 354 basic 87, 247, 255, 257, 259, 261–2, 268 government-funded 89, 250, 258–61 universities 87, 261 reserves 80, 83, 95, 264 residential land 189, 221 residents 124, 395, 414, 419, 442, 449, 452 rural 216–17, 441, 445 urban 216–17, 394, 418–19, 441–2, 445, 448, 451 residual claimants 236, 471, 499–500 residual rights 157, 162–3, 231, 491 of control 162, 236, 238 resolutions 39, 50, 52, 68, 211, 349–50, 362 resource allocation 26, 87, 94–5, 113, 203, 247, 469–70 resource rents 86 resources 86–7, 93–4, 188–90, 201–2, 270–2, 460–1, 500–4 human 446–7, 451 natural 15, 52, 72, 74, 86, 91, 209 scarce 346, 470, 504 responsibilities 7, 64–5, 106, 158, 166, 172–3, 457–8 responsive government 513–14 restaurants 141, 198, 548 restraints 27, 37, 39, 41, 43, 164, 167 retained earnings 79, 83, 488 retirement 86, 93, 99, 423, 426 see also pensions revenue-maximizing 486–7 revenues 85–6, 94–5, 460–1, 474–9, 481–3, 494–5, 506–7 bases 477–8 budgetary 474–7, 479–82, 484, 492, 497, 499, 501 centralization 485 concealment 475, 484 extra-budgetary 476–7, 481–3, 488, 500–2 fiscal see fiscal revenues generators 248, 503 land 492, 500–1 local 232, 469, 476, 482–4 lost 499–500 marginal 475, 484 shares 479, 481 tax 78, 479–80, 482, 485, 491–2, 495–9, 507 see also fiscal revenues total 301, 306–7, 479, 507 Index rewards 88–9, 97, 100, 104, 254, 371, 436 rights 10–11, 161–4, 166–75, 195–200, 217–20, 222–5, 504–6 of action 34, 191 bundles of 11, 182, 197, 211, 505–6 contractual 20, 237–9 control see control, rights de jure 121, 138, 169 formal 64, 121, 134, 169, 187 human 47, 54, 62–3, 65, 68, 173 land 161, 215, 217–28, 231–2, 492, 506 and obligations in interdependent world 156–9 patent see patents reassignment 138, 169–70, 499, 506 reciprocal 48, 188, 197 in rem 220, 238–9, 244 residual 157, 162–3, 231, 491 social 39, 41, 173–4 thirty-year 217–19, 222–8, 230 rights-based grievances 568, 581 risk 82–4, 93–4, 96–7, 106, 120–2, 257–60, 425–6 risk markets 154–5, 163 RLCL see Rural Land Contracting Law rule of law 1, 14, 20, 69–70, 112, 132, 137 enthusiasm 45 formalism 43–63 socialist 564, 574, 584 Western theories 582 rule of reason v per se 264 rules background see background norms formal 37, 46, 57, 132, 188, 546 of the game 71, 79, 101, 166, 179, 182, 458–9 insider trading 182, 331, 341, 349, 351 legal 7, 10, 20, 27–8, 51–3, 220–1, 331 of thumb 31, 33, 65, 201, 203, 212 rural county courts 530, 532, 536 rural families 216, 226 rural households 107, 216, 219, 230, 425–6, 428, 472 rural laborers 442–3 Rural Land Contracting Law (RLCL) 218–20, 224, 227–8, 232, 505 rural land rights 214–32 see also farmers; land rural markets 228, 307 rural poverty 209–10 rural residents 216–17, 441, 445 rural TVE development 472–3 Russia 168, 178, 309, 331, 462, 487 safety 96–7, 199–200, 207, 275 safety nets, social 73, 77, 82, 99, 106, 222, 394 safety valves 42, 579, 581 sale 20, 57, 161–2, 200–1, 203–4, 226, 335 Samsung 300, 310 Sanyo 300 SASAC see State-owned Assets Supervision and Administration Commission savings 24, 30, 83, 87, 104–5, 321–2, 425–6 611 excessive see excessive savings household 82, 84, 86, 99, 108, 426 precautionary 82, 86, 108, 430, 437 scale farming 219, 227, 230 scandals 76–7, 93, 181, 339, 358–9, 374 Scandinavian countries 93–4, 99, 103–4, 106–7 Scandinavian model 3, 93 scarce resources 346, 470, 504 Schargrodsky, E 117, 121–2, 138 schooling see education screening, costs 137, 435 securities 56, 58, 64, 69, 121–2, 168–9, 243–4 companies 361, 377 frauds 335, 339, 346 investment funds 362, 384 law 43, 345, 349, 362, 372, 381, 387 markets 96, 354, 387 regulations 45, 94, 345 Securities Investor Association of Singapore (SIAS) 339, 353 security of property rights 166–8 security of tenure 215, 218–19, 231 Seed Case 577–8 self-employment 107, 125 self-fulfillment 365, 385 self-limitation 65 self-raised funds 473–4, 477 self-regulation 176, 183 self-selection 258–9 selling prices 502–3 Sen, A 103, 423, 430 seniority 239–41 separation of ownership 181, 363–4, 367 service sector 83, 94, 461, 481–2, 485, 499 services 28, 58, 76–7, 194, 292–3, 321–2, 427–8 public 173, 423, 427, 431, 447–9, 451, 481 social 75, 99, 474, 481 SEZs see special economic zones SGX see Singapore, Stock Exchange Shaanxi 530–1, 534, 557, 563, 582 Shandong 318, 320, 482 Shanghai 103, 217, 307, 321, 394, 537–8, 559 Shanxi 397, 401, 403, 405, 411–12, 419–20, 559 share placements 333, 335, 342 share prices 358, 361, 364–5, 374, 377, 379 sharecropping 14–15, 180 shared taxes 475, 479–80 shareholder activism 360–1, 364, 368–9 institutional 359, 367–8 shareholder capitalism 163–4, 166 shareholder value 163, 353, 363, 386 shareholders 163–4, 166, 181, 359–63, 368–70, 375–6, 382 institutional 359, 367–8 minority 161, 335, 339, 350, 355, 360, 378–9 public 343, 345, 375 shares 333–7, 339–40, 342–6, 360–1, 376–7, 403–6, 475–7 nontradable 319, 353, 361 traded 334, 353 Sharp 300 612 Index She Xianglin 521, 549–50 Shell 300 Shenyang 407, 413, 530, 553, 559, 562–3 Shenzhen 306–7, 309, 319, 321, 360, 383, 413 Shiquan 531, 534, 556–7, 559 shirking 182, 363, 365–7, 371, 385 managerial 359, 367–9 Shleifer, A 329–30, 363, 486 shocks 21, 119 shortages, labor 446–8, 450 SIAS (Securities Investor Association of Singapore) 339, 353 Sichuan 319, 397, 411–12, 419, 582, 584 Siemens 300, 310–11 signals 165, 203, 241, 330, 348, 548, 574 simplification 54, 59, 178–9, 207, 211 Singapore 331–3, 335–43, 348–53, 581 enforcement authorities 337–40 government 333, 353 law and growth 348–9 Singapore, Stock Exchange (SGX) 331–4, 337, 349, 352 SIPO see State Intellectual Property Office skills 44, 65, 76, 80, 113, 451 slogans 40, 52, 170, 208 small and medium-sized firms (SMEs) 82, 86, 96–8, 104, 108, 266, 461 small towns 443, 445 SMEs see small and medium-sized firms Smith, Adam 75, 101, 179, 238 smoking 15, 141, 154, 156, 175 social benefits 107, 124, 126, 199, 253, 255 social businesses 129–30, 140–1 social capital 115, 130, 132–3 building 131, 133, 135 social constructions 9, 157, 159, 164, 180, 250, 263 social context 40, 42, 67, 93, 128 social contract 173, 426 social cost 106, 160, 165, 236–7, 252–3, 278 social goods 424, 430 social harmony 13, 102 social innovation 79–80 social insurance 82, 99, 447, 451 programs 448–9 basic 447–8 social justice 8–9, 93, 101, 123, 176–8, 431, 456 social mobility 431 social networks 125, 140 social norms 112, 117, 130, 133, 367, 386 social objectives 9, 26, 37, 44, 73–4, 85–6, 92–3 social ordering 331 social productivity of assets 199–201 social protection 9, 75, 79, 86, 107, 133, 435 lower 425–6 mechanisms 447, 452 social return 88, 253, 274 social rights 39, 41, 173–4 social roles 29, 318 social safety nets 73, 77, 82, 99, 106, 222, 394 social security 82, 93, 107, 362, 384, 423, 446 social services 75, 99, 474, 481 social spending 13 evolution during reform period 426–9 intergenerational content 423–38 current spending 429–32 role for sustainable growth 432–7 social stability 432, 505, 532, 542, 564, 575–6, 579 social value 89, 101, 253, 272 social welfare 193, 242, 393, 441 and hukou reform 443–53 socialist rule of law 564, 574, 584 societal engineers 159 societal objectives 91, 115, 159 societal well-being 72, 75, 93, 156, 163, 177, 263 sociologists 19–20, 28, 38–9, 208 sociology 20–3 legal 39, 41–2, 68 SOEs (state-owned enterprises) 317–19, 334–7, 343–6, 358–61, 426–7, 469–74, 488 local 472, 475, 477–9, 483, 486, 488 restructuring and OTC-style markets 317–23 and TVEs 477–9, 481, 483–4, 486, 488 soft-budget constraint 470–1, 477 software 190–1, 256, 281, 301, 304, 376–7, 536 open-source 261 Solinger, D 395–6, 399, 419–21 Sony 300, 305 Soto see de Soto, H South Africa 123, 135, 269 South Korea 216, 225, 229, 331–2, 350 Southern Metropolitan Daily 520, 550–1, 553–4, 558 Southern Weekend 521–2, 548, 550 sovereign powers 25–6, 193 sovereignty 25, 27, 32, 39–41, 46, 51, 68 and property 192–5 Soviet Union 216, 432, 469, 486, 493 SPC see State Planning Commission speech cheap 514, 539, 541, 543 cheaper 512–13, 515, 541 free 513, 515, 541, 543 Spence, M 425–6 squatters 54–5, 57, 114, 123, 134, 206, 237 stable equilibriums 20, 57–8 stakeholder capitalism 163–4 stakeholders 10, 13, 119, 164, 166, 181, 305 standard contracts 137, 164 standard economic theory 8, 76, 84 standardization of international payments systems 54, 207 standards 34–5, 53–4, 77–8, 192, 211, 252, 267 compatibility 305 international 50, 81, 206, 279–80, 305, 310, 579–81 legal 50, 463, 577 state actors 35, 348, 569, 578 state agents 346–7, 350, 354 state banks 104, 344, 355, 477, 479 state bureaucrats 336–7, 354 Index state capacity 25, 491 state control 337, 344, 348, 379, 580 state-controlled enterprises 343–4 State Council 221, 322–4, 346, 362, 384, 475, 551 State Intellectual Property Office (SIPO) 283–5, 293, 295, 297, 301, 304 state-owned assets 318, 323, 384 State-owned Assets Supervision and Administration Commission (SASAC) 322–4, 326 state-owned enterprises see SOEs state-owned sector 345–6, 481 state ownership 229, 379, 505 State Planning Commission (SPC) 517, 528–30, 532–3, 536–8, 560–2, 571–4, 582–5 state power 39, 43, 117, 205 state regulators 338–9, 350–1 static analysis of institutional evolution models 126–8 static costs 251, 253, 255 static efficiency 267, 272 static inefficiencies 89, 155, 182, 251, 253–5 stock arguments 33–4, 67 stock-bonds 318–19 stock exchanges 44, 319, 322, 343–4, 360–1, 375, 377–9 foreign 340, 343 stock market 44, 319, 324, 340, 344, 358–9, 361–2 stocks 319–22, 342, 363, 380, 384, 395 see also shares subnational governments 479, 481, 491, 497–8 subsidiaries 301, 331–4, 340–1, 361, 419, 577 subsidies 30–1, 42, 49, 51, 59, 62, 183 agricultural 95, 101, 183 central 400, 415, 418, 420 subsidized credit 477–8 subsidized land 482, 487 Sumitomo 300, 352 Sun Zhigang 447, 453, 511, 520–4, 526, 548–9, 552 sunk costs 155, 157, 252, 321 Sunstein, C.R 514, 547 superior courts 511, 528–9, 564 superiors 527–30, 535, 537–8, 542 court 537–8, 577 party 568, 575 supervision 317, 344, 353–4, 533, 536, 579 supervisory directors 362–3 suppliers 163–4, 306 supremacy, executive 27–8, 41 Supreme Courts 9–10, 180, 275, 458, 515–16 Supreme People’s Court 346–7, 378, 387, 517, 528, 571, 574 surplus labor 36, 443, 445–6, 452 sustainability environmental 80, 90–1 long-term 29 sustainable development 13, 468 sustainable growth 14, 149, 487 613 and health care 423–38 sustained growth 71, 132, 351, 468, 491, 506 Sweden 103–4, 107, 355 systematic misappropriation 374, 380 Taiwan 209–10, 216, 225, 229, 295, 339, 472 takeover defenses 363, 385 takeovers, hostile 365, 378 takings 215, 219, 222, 232, 275 regulatory 163, 181 tariffs 23–4, 30–1, 36, 51 tax bases 173, 475, 478, 482–3, 485 tax credits 42, 95, 159 tax incentives 24, 52, 345 tax policy 94–5, 159 tax revenues 78, 479–80, 482, 485, 491–2, 495–9, 507 see also fiscal revenues tax systems 95, 160, 458 taxation 32, 62, 75, 194–5, 200, 226, 324 taxes 90–1, 94–5, 104–6, 159–60, 166–7, 477–80, 496–9 benefit 256 business 479–80, 482, 492, 496–7, 499–501 carbon 86, 90–1, 100–1, 106 central 479–80 environmental 86, 90, 94, 106 export 85, 95, 105 local 479–80, 482 property 200 shared 475, 479–80 transaction 492, 496, 498–9 value-added 479, 497, 499 technical choices 208–9 technologies 79, 95, 266, 281–2, 301–4, 308–10, 513–14 advanced 266, 302 core 309–11 key 283, 302 new 93, 282, 305, 510, 515, 542 technology capabilities 302, 310 technology transfer 250, 266, 279, 282, 303 Temasek 332–3, 336–7, 339–43, 349–51, 353 tenant farmers 215, 225–6, 229 tenure reforms 215, 226 tenure security 215, 217–19, 231 third parties 116, 155, 165, 236, 238–44, 256, 464 Third world 44, 53, 57, 61–2 thirty-year rights 217–19, 222–8, 230 titled families 117–18, 121–2, 138 titled property 121, 136 titles 54, 57, 136, 138, 169–70, 205–6, 244–5 legal 113, 117, 121 titling 112, 117–19, 121–3, 126–7, 135, 138, 170 process 119, 121–3 programs 114–15, 119, 123, 127, 134–6 tolerable growth, politics of 57, 207 top-down reform 571, 578 top-down regulations 39, 41 top managers 361, 378, 380 tournament competition 494 614 Index township and village enterprises see TVEs township governments 477, 496, 503 township levels 474, 482, 498 townships 4, 221, 225, 443, 487–8, 495–6, 507 trade 44, 51, 66, 236–8, 269, 319–22, 334–5 trade imbalances 84–5 trade negotiations 268–9 trade-offs 10, 97, 175, 199, 267 trade surplus 80, 84, 104–5 traded shares 334, 353 trademarks 198, 279, 281 trading 319–21, 323, 334, 374, 453 losses 333–5 spots 315, 317, 319–23 traditional conflicts 363, 366–7 traditional knowledge 177, 250, 253–4, 267, 269, 271, 283 traditional media 520, 522–3, 541, 551 traditions 2, 46, 48, 67, 69, 158, 178 tragedy of the commons 171, 176, 237–8 transaction tax 492, 496, 498–9 transactions 58–60, 62, 119, 199, 218–19, 369–70, 497–9 costs 10–11, 53–4, 62–3, 154–5, 158, 203–4, 212 market 47, 64, 129, 149–50 transfer land 171, 221 transferee 217, 226, 232, 326 transfers 79, 162, 226, 230, 267–9, 426–7, 505 transformation 78, 85–6, 94, 190, 247, 321, 399 transition 71–2, 79–80, 113, 442, 467–8, 473–4, 484–7 away from export-led growth 80–6 economies 168, 467 and property rights 236–45 toward environmental sustainability 90–1 toward innovation economy 87–90 transmission, information 510, 515–16, 547 transparency 20, 54, 56, 63, 92, 205, 210 transportation 173, 524 trespass 11, 56, 106, 158, 194, 196, 199 trespassers 57, 196, 199, 211 trials 354, 520, 524–6, 553 triple damages 94 TRIPS 268–70, 279, 281, 283 trust-based system 119, 129 trusts 54–5, 118, 129–30, 141, 189, 200, 203 Tsinghua University 3, 309 tunneling 375–7 tunneling of funds 375, 378, 381–2 Tuo Pu Software 376–7 turning point, Lewisian 442, 445–8, 451–2 TVEs (township and village enterprises) 80–1, 443, 472–5, 477–9, 485–8, 491–3, 506–7 and SOEs 477–9, 481, 483–4, 486, 488 decline 496–8 development 443, 472–3, 477, 486, 496 privatization 498–9 rise 495–6 unauthorized land conversion 503, 505 unbalanced intellectual property regimes 172, 255 underdeterrence 360, 374–84 and misappropriation 377–80 reasons for 381–3 undistorted prices 45–6, 58 unemployment 84–5, 88, 365–7, 396, 408, 429, 431 insurance 393–4, 412, 445, 449 loss 365, 367 rates 88, 182, 398, 403–5, 407, 416–17, 429 unfettered markets 91, 101, 162, 174, 177, 179 United Nations 40–1, 43, 114, 229 United Nations Development Program 75, 104 United States 75, 100–4, 256–7, 266–7, 269, 372–4, 435 courts 10, 262 economy 7, 51, 108 patent applications 299–300 Universal Copyright Convention 280–1 universal coverage 432, 434, 436 universities 76, 87, 89, 247, 256, 297, 577 research 87, 261 top 76, 309, 380 university graduates 511, 517, 520, 583 unlimited supply of labor 444–6, 451 urban antipoverty program 393 urban areas 13, 82, 425–6, 441, 443–7, 451–2, 499 urban governments 445, 448 urban households 425–6 urban hukou 445, 448, 451 urban poverty 393–4, 399, 403, 406, 418–19 urban residents 216–17, 394, 418–19, 441–2, 445, 448, 451 urban sector 76, 88, 172, 223, 441, 444–5, 451–2 urban workers 228, 444–5, 449 urbanization 91, 107, 171, 215, 448, 450–2, 461 industrialization to 491–508 Uruguay Round 249, 269–70 use and ownership 199–201 utility 374, 385, 395, 516 market 373–4 nonfinancial 367, 385–6 utility models 282–90, 292–4, 303, 311 vagueness 198, 540 validity 121, 242, 273, 359, 385 patents 291–3 value added tax (VAT) 94–5, 200, 479, 497, 499 VAT see value added tax vernacular 10, 62, 65 legal 52, 61–2, 66, 69 policy 53, 66, 70 village enterprises see TVEs villagers 499, 503, 505 Index villages 139, 190, 217, 219, 228–30, 432, 442–3 Bangladeshi 139–40 visions 27, 71–2, 78–9, 102, 126 vocabulary 27, 39, 51, 53, 58, 61, 65–6 volatility 80, 96, 429–31 wage rates 199, 318, 444, 446 wages 15, 76, 85, 182, 192, 431, 446 minimum 66, 173, 403–5, 412, 416–20, 447–8 Wagstaff, A 426, 432–3 Wang Binyu 525–6 Wang Shujin 522 Washington Consensus 43, 73, 126, 179 water 124, 139, 158, 190, 201, 482 WCDMA see Wideband Code Division Multiple Access weak judiciaries 512, 539, 541, 543 weaknesses 43, 259, 265, 418–19, 521 wealth 9, 55, 73, 82, 100, 127, 167–8 effects 150, 158, 179, 203, 222 wealthy 127, 138 Weber 54–5 websites, court 529, 531, 533, 557, 562, 576 weighing 64–5 weights 192–3, 252, 259, 323, 462, 464, 516 Weingast 316, 467, 469, 473, 479, 484, 496 welfare 52–3, 122, 431 welfare economics 58, 61 welfare states 28, 46 well-being 12, 71, 74, 88, 90, 163–6, 429 well-defined property rights 132, 170, 236–7, 245 western regions 190, 396–7, 400–3, 406, 451 white-collar crimes 386 Wideband Code Division Multiple Access (WCDMA) 309–10 windfall profits 492, 503, 506 winners 10, 32, 56, 167, 192, 205, 253 WIPO see World Intellectual Property Organization women 57, 64–5, 122–6, 130, 139, 189, 521 615 education 65–6 rights 123, 138 Wong, C 467–8, 475, 479–81, 484, 507 workers 15, 36, 163–5, 173, 198–9, 445–8, 532 local 445–6, 449, 451, 453 migrant 182, 442, 444–53, 520, 525, 554 urban 228, 444–5, 449 World Bank 103, 114, 135, 229, 329, 435–7, 480–2 World Development Indicators 102, 105, 435–7 World Economic Forum 336, 387 World Intellectual Property Organization (WIPO) 249, 273, 280–1, 311–12 World Trade Organization (WTO) 51, 65, 90, 97–8, 268–70, 279–80, 283 written contracts 217–18 written instructions 518, 522, 573 WTO see World Trade Organization Wuhan 320, 407, 413, 419, 521 Xiamen 397, 413, 472 Xi’an 407, 413, 530, 532, 554, 561 Xinhua News Agency 232, 526 Xining 407, 413 Xu Dengkai 531–2 Yan Huang Online 376–7 yardstick competition 457, 491, 495, 506 Young, A 468, 478 Yu, S 428, 433 Yunnan 397, 411 Yunus, M 12, 113–15, 124, 126–9, 133–5, 137–41 see also Grameen efficiency 119–20 equity 123–6 Zhang Zaiyu 521 Zhejiang 501–3 Zhengzhou 413, 529, 555 Zhucheng 318 ... 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