This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation.
In the past two decades, China has experienced rapid industrial and economic growth. This fascinating book explores the unique Chinese business strategy of vigorous market entry and low prices, which has been the key feature of this accelerated industrial growth.
This book presents an analysis of betterment and compensation issues under the Land Use Rights
(LURs) System in China since 1988. The topic originates from the observation of widening inequity
and increasing uncertainty associated with the failure of government to adequately address
betterment and compensation issues. An analytical framework of institutions and property rights is
employed to examine socio-economic impacts under the LURs system, in particular, the role of the
state is analyzed to explore the effects of government intervention in land markets.
This important new book attempts to establish a fresh conceptual framework for the study of corporate governance by employing the new institutional economics of contract enforcement. This framework helps to clarify two critical issues including the role of law in financial development and whether there is an optimal corporate governance model that should be followed by countries attempting to develop their own stock markets.
Improving Irrigation in Asia is based on a longitudinal study over two decades on innovative intervention for sustained performance of irrigation systems. The work identifies key factors that can help explain the performance of interventions, and explicates lessons for resource management and the management of development assistance.