Description
Book SynopsisThe economic and geopolitical implications of China''s rise have been the subject of vast commentary. However, the institutional implications of China''s transformative development under state capitalism have not been examined extensively and comprehensively. Regulating the Visible Hand? The Institutional Implications of Chinese State Capitalism examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China''s variety of state capitalism in comparative perspective. It first examines the domestic governance of Chinese state capitalism, looking at institutional design and regulatory policy in areas ranging from the environment and antitrust to corporate law and taxation. It then analyses the global consequences for the regulation of trade, investment and finance. Contributors address such questions as: What are the implications of state capitalism for China''s domestic institutional trajectory? What are the global implications of Chinese state capitalism? What can be learned from a comparative analysis of state capitalism?
Trade ReviewThe book can safely be recommended to anyone interested in Chinese political economy in general or SOEs specifically ... The ground covered through all three parts is vast and conceptually envelops SOEs in China between various points of view dealing with the political, social and global aspects, all of which have an unfortunate tendency of absence in more traditional and sterile research. Indeed, the relatively large number of chapters, expert contributors and content puts this volume halfway toward becoming a handbook on Chinese state capitalism ... With the logical arch of this volume spanning from the regulation pertaining to the largest economic subjects in China and finishing in the comparative issues of Chinese capitalism, unafraid to tackle questions such as labor organization, Party political elites and international implications along the way, it is well poised to become another useful voice. * Josip Lučev, The Legal History Review *
Table of ContentsList of Contributors ; Acknowledgments ; Introduction: The Institutional Implications of China's Economic Development ; Benjamin L. Liebman and Curtis J. Milhaupt ; Part I: Domestic Institutional Implications ; 1. Indigenous Evolution of SOE Regulation ; Deng Feng ; 2. Blowback: How China's Efforts to Bring Private-Sector Standards into the Public Sector Backfired ; Donald Clarke ; 3. Protecting the State from Itself? Regulatory Interventions in Corporate Governance and the Financing of China's "State Capitalism" ; Nicholas Calcina Howson ; 4. Quenching Thirst with Poison? Local Government Financing Vehicles - Past, Present and Future ; Liao Fan ; 5. Antitrust Regulation of China's State-Owned Enterprises ; Angela Huyue Zhang ; 6. Taxation of State-Owned Enterprises: A Review of Empirical Evidence from China ; Wei Cui ; 7. Balancing Closure and Openness: The Challenge of Leadership Reform in China's State-Owned Enterprises ; Li-Wen Lin ; 8. Legal Informality and Human Capital Development in China ; Chen Ruoying ; 9. Reforming China's State-Owned Enterprises: Institutions, Not Ownership ; Curtis J. Milhaupt and Wentong Zheng ; 10. SOEs and State Governance: How State-Owned Enterprises Influence China's Legal System ; Zheng Lei, Benjamin Liebman and Curtis J. Milhaupt ; 11. The Social Relations of Chinese State Capitalism ; Mary E. Gallagher ; 12. Chinese State Capitalism and the Environment ; Alex Wang ; Part II: Global Institutional Implications ; 13. China's Rising Outward FDI: Its Reception in Host Countries and Implications for International Investment Law and Policy ; Karl P. Sauvant and Michael D. Nolan ; 14. The WTO and China's Unique Economic Structure ; Mark Wu ; Part III: Chinese State Capitalism in Comparative Perspective ; 15. The Hybridization of China's Financial System ; Katarina Pistor, Guo Li & Zhou Chun ; 16. Governing State Capitalism: The Case of Brazil ; Mariana Pargendler ; 17. Chinese Exceptionalism or New Varieties of State Capitalism ; Sergio Lazzarini and Aldo Musacchio ; Index
