Investments in rural land for agriculture, timber, and other natural resource purposes occur frequently and globally. Fundamental principles of liberty and property found in the United States of America’s (“US”) le...Investments in rural land for agriculture, timber, and other natural resource purposes occur frequently and globally. Fundamental principles of liberty and property found in the United States of America’s (“US”) legal system, from its origins to recent US Supreme Court decisions, continue to positively benefit holders of real estate in the Southern US, through a deep-rooted public policy of supporting private property rights and rural economic development. This stable rule of law enhances the long-term adaptability and sustainability of timberland as an asset class. This article is a commentary. It combines legal research methodology with the observations and conclusions of the authors. Its purpose is to demonstrate that the existence of alienable, documentable ownership, and related property rights create inherent stability and security. These principles form the basis of a culture that is defined by the rule of law and is “open for business.” This business mindset is particularly prevalent in the Southern US.展开更多
Building effective institutions for markets is a great challenge to China's transitional economy. China's experience in establishing urban land markets is characterized by trial and error and the gradual evolu...Building effective institutions for markets is a great challenge to China's transitional economy. China's experience in establishing urban land markets is characterized by trial and error and the gradual evolution of transitional institutions. Based on archive data and interviews in a neighborhood(Jinhuajie) of Guangzhou,this research reveals that China's land redevelopment in the past two decades has followed an approach of partial and gradual reform,which was structured by the gradual evolution of transitional institutions to speed up local land redevelopment within the existing property rights system. Transitional institutions,including highly compensated residents' land use rights,in-kind land lease payment,flexible control on development rights of developers and short-term actual ownership of work units,are generated by the local government sequentially to dispel existing land use rights of different land users and make further development be able to follow market mechanisms.展开更多
As a general rule of Economics of Development,economic growth and development require rational institution guarantee.Land Tenure.As a main institution factor in agricultural development,closely relates to the reform o...As a general rule of Economics of Development,economic growth and development require rational institution guarantee.Land Tenure.As a main institution factor in agricultural development,closely relates to the reform of Chinese agriculture.Based on the relevant theories of Economics of Institution and Economics of Development,and combined with the marketization process of Chinese Land Tenure of Property Rights,the article studied the effects of institutional factors and put forward some choices in the development of agriculture,which is of both significant and practical importance.展开更多
文摘Investments in rural land for agriculture, timber, and other natural resource purposes occur frequently and globally. Fundamental principles of liberty and property found in the United States of America’s (“US”) legal system, from its origins to recent US Supreme Court decisions, continue to positively benefit holders of real estate in the Southern US, through a deep-rooted public policy of supporting private property rights and rural economic development. This stable rule of law enhances the long-term adaptability and sustainability of timberland as an asset class. This article is a commentary. It combines legal research methodology with the observations and conclusions of the authors. Its purpose is to demonstrate that the existence of alienable, documentable ownership, and related property rights create inherent stability and security. These principles form the basis of a culture that is defined by the rule of law and is “open for business.” This business mindset is particularly prevalent in the Southern US.
基金Under the auspices of New Scholar Research Fund (2007) of SUN Yat-Sen Universitythe Research Fund for Returned Overseas-studied Scholars of Ministry of Education of China (2008)
文摘Building effective institutions for markets is a great challenge to China's transitional economy. China's experience in establishing urban land markets is characterized by trial and error and the gradual evolution of transitional institutions. Based on archive data and interviews in a neighborhood(Jinhuajie) of Guangzhou,this research reveals that China's land redevelopment in the past two decades has followed an approach of partial and gradual reform,which was structured by the gradual evolution of transitional institutions to speed up local land redevelopment within the existing property rights system. Transitional institutions,including highly compensated residents' land use rights,in-kind land lease payment,flexible control on development rights of developers and short-term actual ownership of work units,are generated by the local government sequentially to dispel existing land use rights of different land users and make further development be able to follow market mechanisms.
文摘As a general rule of Economics of Development,economic growth and development require rational institution guarantee.Land Tenure.As a main institution factor in agricultural development,closely relates to the reform of Chinese agriculture.Based on the relevant theories of Economics of Institution and Economics of Development,and combined with the marketization process of Chinese Land Tenure of Property Rights,the article studied the effects of institutional factors and put forward some choices in the development of agriculture,which is of both significant and practical importance.
