Urban Development under Ambiguous Property Rights: A Case of China’s Transition Economy
Urban Development under Ambiguous Property Rights: A Case of China’s Transition Economy
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DOI：
10.1111/1468-2427.00362
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发表时间：
2002-03
影响因子：
3.3
通讯作者：
Jieming Zhu
中科院分区：
文献类型：
--
作者：
Jieming Zhu
产权在保持可持续增长和实现有效发展方面发挥着关键作用。中国的经济改革通过土地使用权和建筑物建设的商品化和市场化刺激了城市物质发展。城市土地产权已经分散，但渐进式的国有资产改革并没有在委托人和代理人之间进行清晰的产权分配和界定。在很短的时间内，上海，一个处于经济转型期的城市，在其历史上第一次面临着巨大的房地产过剩。自1980年以来，双层激励结构创造了上海城市物质发展的动力。建筑市场化使房地产开发成为一项可行的业务。开放领域中有价值的财产的资本化激励开发过程中的关键参与者启动重建项目。繁荣的房地产市场建立的快速上涨的价格基准，加剧了将无担保公共领域的租金转化为受社会主义使用权保护的实物资产的冲动。版权联合编辑和布莱克韦尔出版社有限公司2002年。
Property rights play a key role in maintaining sustainable growth and in achieving efficient development. China's economic reforms have stimulated urban physical development through the commodification and marketization of land-use rights and building construction. Property rights over urban land have been decentralized, but the gradualist reform of state assets has not assigned and delineated property rights clearly between the principal and agents. Within a short space of time, Shanghai, a city in a transition economy, is facing a great property glut for the first time in its history. It is the two-tier incentive structure that has created the dynamics of Shanghai's urban physical development since 1980. The marketization of buildings makes property development a viable business. Capitalization on valued properties in the open domain motivates key actors in the development process to initiate redevelopment projects. Rapidly rising price benchmarks established by the booming property market escalate the urge to transform rents in the unsecured public domain to physical assets that are protected by the socialist use right. Copyright Joint Editors and Blackwell Publishers Ltd 2002.