Law and Political Economy in China
The Role of Law in Corporate Governance and Market Growth

Combines law and political economy as a novel analytical framework to deconstruct China's market development and corporate evolution since 1978.

Tamar Groswald Ozery (Author)

9781009158244, Cambridge University Press

Hardback, published 24 August 2023

304 pages
28 x 19 x 2.3 cm, 0.669 kg

'Groswald Ozery's focus on political power dynamics in China's legal system offers fresh insights into how law has simultaneously enhanced the state's capacity as a market regulator and, crucially, elevated the Party's direct agency in the market. Law and Political Economy in Corporate China is an important contribution to our understanding of China's capital market development.' Curtis J. Milhaupt,, William F. Baxter – Visa International Professor of Law, Stanford Law School

Applying a novel theoretical approach, Tamar Groswald Ozery combines law and political economy to deconstruct the role of law in China's market development since 1978. The book examines how economic and administrative powers within China's Party-state system have been legally and politically configured throughout China's growth process. Using a vast range of primary sources, Ozery illuminates how the law acts as a mediating institution that translates and gives shape to the relations between politics and economics. Using the evolution of public firms and corporate governance as a case study, the book illustrates the complex relationships between law, politics, and economic development, and sheds new light on the possible varieties of growth-supporting governance institutions in firms. By studying China's distinct market experience through the lens of law and political economy, the book offers a significant contribution to development studies, comparative corporate governance, and interdisciplinary discussions about China as a growth model.

Introduction
Part I. Economic Development and the Role of Law: 1.1 The Traditional Framework
1.2 Law and Political Economy: A New Paradigm
Part II. China's Development Trajectory and the Role of Law: 2.1 Early Reform Era (December 1978–1991)
2.2 Legal Modernization Era (1992–2009)
2.3 Legalized Politicization Era (From 2010 to Present)
Part III. Law and Political Economy in Corporate China: 3.1 Corporate Governance under Market Experimentation
3.2 Corporate Governance under State Capitalism
3.3 Legally Politicized Corporate Governance
3.4 Legally Politicized Corporate Governance as a Functional Alternative
Conclusions
Appendix: Methodology and Data Selection
Index.

Subject Areas: Comparative law [LAM], Finance & accounting [KF], Welfare economics [KCR], Political economy [KCP], Economics [KC], Comparative politics [JPB]