Regulating the Visible Hand?: The Institutional Implications of Chinese State Capitalism

ISBN : 9780190250256

Benjamin L. Liebman; Curtis J. Milhaupt
480 Pages
156 x 235 mm
Pub date
Dec 2015
Send mail

The economic and geopolitical implications of China's rise have been the subject of vast commentary. However, the institutional implications of China's transformative development under state capitalism have not been examined extensively and comprehensively. Regulating the Visible Hand? The Institutional Implications of Chinese State Capitalism examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China's variety of state capitalism in comparative perspective. It first examines the domestic governance of Chinese state capitalism, looking at institutional design and regulatory policy in areas ranging from the environment and antitrust to corporate law and taxation. It then analyses the global consequences for the regulation of trade, investment and finance. Contributors address such questions as: What are the implications of state capitalism for China's domestic institutional trajectory? What are the global implications of Chinese state capitalism? What can be learned from a comparative analysis of state capitalism?


List of Contributors
Introduction: The Institutional Implications of China's Economic Development
Benjamin L. Liebman and Curtis J. Milhaupt
Part I: Domestic Institutional Implications
1. Indigenous Evolution of SOE Regulation
Deng Feng
2. Blowback: How China's Efforts to Bring Private-Sector Standards into the Public Sector Backfired
Donald Clarke
3. Protecting the State from Itself? Regulatory Interventions in Corporate Governance and the Financing of China's "State Capitalism"
Nicholas Calcina Howson
4. Quenching Thirst with Poison? Local Government Financing Vehicles - Past, Present and Future
Liao Fan
5. Antitrust Regulation of China's State-Owned Enterprises
Angela Huyue Zhang
6. Taxation of State-Owned Enterprises: A Review of Empirical Evidence from China
Wei Cui
7. Balancing Closure and Openness: The Challenge of Leadership Reform in China's State-Owned Enterprises
Li-Wen Lin
8. Legal Informality and Human Capital Development in China
Chen Ruoying
9. Reforming China's State-Owned Enterprises: Institutions, Not Ownership
Curtis J. Milhaupt and Wentong Zheng
10. SOEs and State Governance: How State-Owned Enterprises Influence China's Legal System
Zheng Lei, Benjamin Liebman and Curtis J. Milhaupt
11. The Social Relations of Chinese State Capitalism
Mary E. Gallagher
12. Chinese State Capitalism and the Environment
Alex Wang
Part II: Global Institutional Implications
13. China's Rising Outward FDI: Its Reception in Host Countries and Implications for International Investment Law and Policy
Karl P. Sauvant and Michael D. Nolan
14. The WTO and China's Unique Economic Structure
Mark Wu
Part III: Chinese State Capitalism in Comparative Perspective
15. The Hybridization of China's Financial System
Katarina Pistor, Guo Li & Zhou Chun
16. Governing State Capitalism: The Case of Brazil
Mariana Pargendler
17. Chinese Exceptionalism or New Varieties of State Capitalism
Sergio Lazzarini and Aldo Musacchio

About the author: 

Benjamin L. Liebman is the Robert L. Lieff Professor of Law and Director of the Center for Chinese Legal Studies at Columbia University Law School. His current research focuses on Chinese tort law, on Chinese criminal procedure, on the impact of popular opinion and populism on the Chinese legal system, and on the evolution of China's courts and legal profession. Professor Liebman is recognized as one of the leading scholars of Chinese law, and consulted with both the U.S. and Chinese governments on legal developments in China. He previously served as a law clerk to Justice David Souter and to Judge Sandra Lynch of the First Circuit. He is a graduate of Yale, Oxford, and Harvard Law School.; Curtis J. Milhaupt is the Parker Professor of Comparative Corporate Law, Director of the Parker School of Foreign and Comparative Law, the Fuyo Professor of Japanese Law, and Director of the Center for Japanese Legal Studies--all at Columbia University Law School. He is also a member of Columbia University's Weatherhead East Asian Institute, the American Law Institute, and the European Corporate Governance Institute. His research, which focuses on comparative corporate governance, the legal systems of East Asia, state capitalism, and the relationship between legal institutions and economic development, has been featured in The Economist, the Financial Times and The Wall Street Journal, and has been widely translated.

The price listed on this page is the recommended retail price for Japan. When a discount is applied, the discounted price is indicated as “Discount price”. Prices are subject to change without notice.