市场秩序的微观基础:契约和产权

A Micro Foundation of Market Order :Contract and Property Rights

现代市场经济中的市场秩序应该建立在有效的契约制度和产权制度基础上。向市场经济转变在微观上就是要实现由关系交易向契约关系交易的转变。契约交易与所有权(产权)是不可分的。产权保护制度也就是契约权益保护制度。产权保护有两个层次:第一个层次是市场的自动保护,具体体现就是等价交换、平等竞争的权利。第二个层次是在市场保护失效时由政府保护。产权流转实际上是产权保护的重要途径。产权流转的基础在企业的产权组织必须允许产权流动。产权的初始界定并不重要,重要的是产权通过交易进行重新调整。现阶段企业之间交易秩序的混乱往往是有代理人的行为导致的。因此,委托—代理关系不只是解决代理人向委托人负责的问题,还需要有一定的制度规范代理人的市场行为。

The market order in modern market economy must be established on the foundation of effective contract system and property rights system. Transforming to market economy is, in the micro aspect, to realize a transformation from relationship trading to contract trading, Contract trading is inseparable from ownership, i. e., property rights. The protective system of property rights means the protective system of contract rights. The protection of property rights has two strata. The first stratum is the automatic protection of market, which is concretely embodied by the rights of equal value exchange and equal competition. The second stratum is the governmental protection when market protection is ineffective. In fact, the floating of property rights is an important approach to protecting property rights. The foundation of property rights floating is that the property rights organization in enterprises must allow the floating of it. The initial definition of property rights is less important. What is important is that the re-adjustment of property rights is engaged in trading. At present, the chaos of the order of trading between enterprises is often caused by the agents＇ acts. Therefore, the relationship of trust-agency is not only an issue of the responsibility of the agent to the trustee, but also there need some policies to regulate the agents＇ market behavior.