The Political Economy of Property Rights: Institutional Change and Credibility in the Reform of Centrally Planned Economies

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Overview

The Political Economy of Property Rights investigates the transformation of property rights in post-communist countries and China. The movement to effective market economies requires the creation of more effective supporting institutions, especially systems of property rights that decentralize the control of economic resources. This process is inherently political, and thus should be studied from the perspective of political economy.
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Editorial Reviews

From the Publisher
"...recommended to anyone dealing with privatization strategies in the transformation economies or with the political economy of institutional change." Thomas Wagner, Journal of Institutional & Theoretical Economics

"...nothing could be more than a book on the interaction between the political insitutions of democracy and economic transformation. IThe Political Economy of Property Rights was the result of comparative studies made by the respective country specialists." Slavic Reviews

"This volume examines why the countries have followed the policy courses that they did. Weimer describes the basic principles of property rights, in particular, security against appropriation by others, emphasizes the close connection between private property and democracy, and then summarizes the other contributions. ...a major step toward developing such a full model, as it confronts the modesl with many empirical cases. We can then see what data and techiniques are most successful in testin the theory." Kenneth Koford, Journal of Comparative Economics

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Product Details

Table of Contents

List of figures and tables
List of contributors
Series editors' preface
Preface
1 The political economy of property rights 1
2 Credible commitment and property rights: The role of strategic interaction between political and economic actors 20
The political commitment to markets and marketization 43
3 Political determinants of the success of economic transition 50
Comment on "Political Determinants of the Success of Economic Transition" 80
4 Russian privatization and the limits of credible commitment 84
Three issues of credible commitment and Russian privatization 109
5 Legislative politics and the political economy of property rights in post-communist Russia 113
Commitment, coordination, and the demise of the post-communist parliament in Russia 139
6 Private firms, city government, and arbitration: Enforcing economic legality in St. Petersburg 150
Comment on "Private Firms, City Government, and Arbitration" 179
7 Property rights and institutional change in the Czech and Slovak republics 182
Comment on "Property Rights and Institutional Change in the Czech and Slovak Republics" 205
8 Institutional structures, labor interests, and evolving privatization bargains in Poland 208
Comment on "Institutional Structures, Labor Interests, and Evolving Privatization Bargains in Poland" 232
9 Privatization as institutional change in Hungary 239
Comment on "Privatization as Institutional Change in Hungary" 256
10 Marketization and government credibility in Shanghai: Federalist and local corporatist explanations 259
Federalist and local corporatist theories: A comment on an empirical test 288
11 Learning about the economy: Property rights and the collapse of the East German industrial economy 294
Misinformation, insecure property rights, and the collapse of the East German economy 314
12 Post-communist privatization as a test of theories of institutional change 319
Explaining the complexity of institutional change 349
Indexes 355
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