关系性产权比权利性产权更重要——公司和农户缔约的产权属性分析

权利性产权安排是通过所有权来界定公司和农户的权利义务关系的.在公司和农户共同经营的农业产业链中,资产的多重属性和多维度性,特别是农户人力资本控制权和索取权的不可分离性、交易主体的不同类型以及契约实施的事后成本等决定了仅仅依靠权利性产权的界定来实施契约存在天然的障碍.而关系性产权的引入可以克服以上因素导致的契约不完备性问题,减弱准租金的占用.关系性产权比权利性产权在公司和农户的契约关系中更为重要.     

Community–Industry Contracting over Natural Resource use in a Context of Weak Property Rights: The Case of Indonesia

Decentralization in Indonesia has resulted in an increased influence of local communities over the terms of logging agreements with timber companies. The outcomes of such community–company negotiations vary significantly across communities. What are the conditions that cause this variation, and how can the outcomes be more effectively and efficiently influenced by third-party actors such as the local government or NGOs? This paper addresses these questions by developing a game-theoretic model to illustrate the strategic interactions between communities and companies. The model allows for endogeneity of de facto property rights and bargaining positions. We show that third-party actions to improve the community’s bargaining position by raising its reservation utility may result in an increase in the area logged and thereby harm the environment. Our results indicate that the strategy of intervention matters. In particular, strategies that raise the sensitivity of interventions to local logging threats are likely to be more cost-effective in supporting communities and reducing forest degradation than more indiscriminatory strategies. The model will be relevant to other situations where communities negotiate contracts over natural resource use with outside actors in a context of weak property rights, a situation increasingly observed in other developing countries.     

Property Rights in Work: Capitalism,Industrialism, and Democracy

Insulating people from the effects of the crisis has left intact the habits of thought and the basic institutional structure. The continued reign of pecuniary values leaves intact the Goldman Rule: pursue profitable opportunities regardless the effects on others. Within a culture dominated by pecuniary values, profitable opportunities present a coercive force. Laissez-faire policies allow profitable pursuits without restraint. Subprime mortgages offered an opportunity to tap a new source of profits, namely, the increase in housing prices. Many financial institutions engaged in unscrupulous actions to convert household wealth into corporate profits. Efforts to reign in the industry remain wanting.     

The Cost of Diversity: Endogenous Property Rights and Growth

Well-specified property rightsenhance economic performance but vary considerably across countries.The failure of numerous nation-states to adopt growth-enhancinginstitutions is paradoxical. This paper examines the role ofethnic and linguistic diversity in retarding the developmentof growth-enhancing property rights and in-turn economic growth.The data show that property rights are attenuated in more diversepolities and economic growth is correspondingly lower.     

产权约束、投资低效与通货紧缩

本文从产权逻辑来诠释 2 0 0 3年以来的投资膨胀。文章认为 ,在土地转让权含糊不清和银行产权约束不力的背景下 ,土地和信贷市场的价格机制无法给出市场定价 ,客观造成了巨大套利空间的存在。当经济景气时 ,一些地方政府、企业和银行三方共谋土地和贷款这两种最关键的生产要素 ,从而导致投资的非理性膨胀 ,并通过金融加速器效应带来宏观经济的大幅波动。从根源上讲 ,过度投资和投资低效的本质是产权约束和地方政府政绩观导向的问题。因而 ,本文提出的相应政策含义是 ,在短期内主要以经济杠杆来控制总量 ;在中长期应转变政府职能 ,推进产权改革。     

论财产权利的两面性

财产权利具有两面性,一方面它是反对专制特权、增进个人自由以及促进市场经济效率的有效手段;另一方面在没有任何制度制约的情况下,财产权利的垄断极易导致对劳动者权利的侵犯。因此,我们应当在社会公正和平等目标的指导下,通过增强政府、工会组织以及工人自身力量的权力制衡方法规范财产权利的作用方式,遏制其消极作用的发挥。     

On the Sale of Production Rights and Firm Organization

It is argued that the owner of production rights may not be indifferent across organizational structures of producers. In particular, the owner may prefer to grant some or all of the rights to labor-managed firms. The reason is that such firms adopt a less competitive strategy and so generate more industry rent, which the owner can capture as fee payments. A mixed duopoly may be particularly attractive. The conflict between revenue-raising and the pursuit of efficiency as objectives of government privatization programs is highlighted, and the relevance to East European reform discussed.     

Privatization, Land Reform, and Property Rights: the Mexican Experience

This paper is concernedwith rural property rights in Mexico. Consideration of this issuewas occasioned by the liberal program of reform adopted in 1992by the government of Carlos Salinas de Gortari, which providesfor a gradual privatization of the Mexican ejidos, a form ofcommunally administered property. The present contribution examinesto what extent this reform project is theoretically founded andwhich practical problems it encounters in implementation. Thegenesis and structure of rural property rights in Mexico is outlined.The problems associated with implementing the reform projectare discussed for an empirical case example in the Soconuscoregion (Chiapas) in Mexico. Finally, a number of consequencesare drawn.     

Contract-Intensive Money: Contract Enforcement, Property Rights, and Economic Performance

We introduce a new, easily accessed and objective measure of the enforceability of contracts and the security of property rights. This measure, called contract-intensive money or CIM, is based on citizens decisions regarding the form in which they choose to hold their financial assets. Country case studies show that CIM varies over time in response to political events in ways predicted by our arguments. We also show that CIM is positively related to investment and growth rates, and to the relative size of contract-dependent sectors of the economy.     

Environmental Degradation and Population Movements: The Role of Property Rights

This study examines the linkages between environmental degradation (viewed primarily as deforestation and land degradation) and the movement of population from one region to another within a developing country. The hypothesis postulated is that the link between population and environmental degradation is mediated by the nature of property rights in land. This hypothesis is examined with the help of two alternative methodologies. Firstly, a simultaneous equations model using data for the arid and semi-arid region of Western India illustrates that outmigration from the region is largely the consequence of push factors such as environmental degradation and decrease in common land. Alternatively, micro experiments in environmental protection and the creation of common property rights on open access land in the same region indicate that the association between migrational change, creation of common property rights and participation indices is high. It can be concluded that once property rights are well defined with the help of appropriate institutional arrangements, labour moves towards the creation of common assets and an improvement in the environment takes place. Out migration is prevented and higher levels of population are supported by the same resources. The authors wish to thank Ms. Seema Bathla and Dr. Suresh Sharma for assistance in documentation, data collection and analysis.     

传销与直销、非法传销的比较研究

含义不同。“直销”一词有许多不同的含义。通常，它仅仅指一种营销形式：即产品和劳务不通过中间商而直接由生产者到达最终使用者，对应于英文中的“Direct Selling”。在这个意义上，推销员直接把产品卖给最终使用者、邮寄销售或工厂经营零售店均属直销范畴。鉴于后两种形式的直销在我国尚不多见，我们下文中提到的直销专指利用推销员直接把产品卖给最终使用者。     

Preference Structures, Property Rights, and Paired Comparisons

The method of paired comparisons was used to determine the structure of survey participants' value expressions for Australian native forests. The same participants were also surveyed using the contingent valuation method (CVM). Data from the paired comparisons were used to construct preference maps which enabled identification of participants whose value expressions were structurally incompatible with economic welfare theory – in particular, those participants who expressed their values according to lexicographic preferences. For some of these participants, CVM results did not provide appropriate measures of WTP. The surveys also demonstrated the importance of allowing participants' own views on property rights to dictate the valuation context offered.     

The Nature of Property Rights in Haiti: Mode of Land Acquisition,Gender, and Investment

In Haiti, two primary pathways to land ownership are through the purchase of land and through inheritance. In terms of inheritance, intestate law treats daughters and sons equally with respect to real property. Despite the formal law, we find that women are relatively less tenure secure on their inherited land than men. In contrast, men and women share similar perceptions of tenure security on purchased land. These differences become manifest in conservation investment activities: tree planting, fallowing, and terracing. We find evidence that these activities are less likely to occur by female respondents on their inherited land.     

契约密集型货币:契约实施、产权和经济绩效

本文引入了一个客观地度量契约实施及产权安全性的指标,即契约密集型货币(contract-intensive money),或简称为CIM.它建立在人们选择以何种方式持有金融资产的决策基础之上.不同国家的案例研究表明,作为对政治事件的反映,CIM按照本文预测的方式随时变化.研究还表明,CIM和一国的投资额、经济增长率及依赖契约部门的相对规模存在正相关关系.     

流量、储蓄与金融权利——兼议蒋硕杰的货币流量理论以及中国金融改革的货币逻辑

在货币理论史上,流量分析和存量分析的是非曲直一直是人们关注和争论的焦点,本文试图对相关文献进行重新梳理。由于此问题进一步牵扯到储蓄效应和金融权利结构,因此对于理解中国金融改革的货币逻辑具有特殊意义。本文初步确认,借助以蒋硕杰为代表的一些经济学家的努力,货币流量分析曾经更胜一筹,但因囿于完全市场假设,加之未能直面货币起源双重逻辑的挑战,这一分析最终在理论范式的重建方面无功而返。不过,中国的金融改革为甄别和评判这两种货币分析的利弊优劣提供了千载难逢的机会。本文的讨论发现,中国的金融改革过程使长期隐藏于货币流量存量内层的金融权利结构得以凸显,从而有可能将货币分析引向重建金融分析制度范式的正确路径。     

分配承诺、产权与经济效率

在政府分配的承诺可置信时,地方政府分权竞争的结果是资方获得了最大利益,而劳方的利益被忽视了。而当政府分配的承诺不可置信时,资方的投资生产激励会受到较大的削弱,社会福利会受到较大损害。关于中国经济增长奇迹的经济解释,文章认为:在改革开放初期,中性政府对经济增长起到了很重要的作用;而随着改革开放的深入,地方政府分权的竞争激励机制可能起到了更为重要的作用。产业结构与产权保护有着密切的关系,要使产业结构完成升级,拥有良好的产权保护制度是一个重要条件。针对地方政府分权竞争带来的问题以及承诺可置信性缺失,文章引入第三方规制和以权力配置作为一种可信承诺等两种解决途径,并指出了其不足之处。     

控制权转让、产权性质与公司绩效

本文以2003—2011年A股发生终极控制人变动的上市公司为样本,考察了四类控制权变动对公司绩效的影响。结果发现:(1)国有转民营和民营转国有都能显著提高公司绩效,而国有转国有和民营转民营对公司绩效的提高并不显著;(2)民营转国有对公司绩效的提高源于隧道效应的减弱,而国有转民营对公司绩效的提高则是隧道效应的减弱和经理人代理问题的降低两方面共同作用的结果。以上结论说明,产权性质的改变在控制权转让过程中起到了积极的作用,不同所有制结构在治理问题上各有优缺点:国有企业往往面临更为严重的经理人代理问题,而民营企业的大股东隧道效应更为严重。所有权性质的转变导致治理形式的转换,新的治理形式克服了原先治理形式的缺点,从而提高了效率。本文结论有利于缓解"国进民退"的争论,同时为进一步推进混合所有制改革提供了经验证据。