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Paper eres2001_305:
Institutional Change and Uncertainty in the formation of a Property Market

id eres2001_305
authors Zhu, Jieming
year 2001
title Institutional Change and Uncertainty in the formation of a Property Market
source 8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
summary Economic change since 1978 toward a market-oriented economy has brought China’s urban development into a new era along with profound organisational transformation and institutional change. The gradualist nature of the economic change has cast intriguing impact on the course of institutional change. New organisations, emerging from the gradual economic change, take a leading role in shaping new institutions for the new “game”. Institutional uncertainty is consequently derived from an explicit absence of the state as a third-party rule-enforcement, and the ambiguity between the outgoing planning system and incoming marketisation. An emerging urban property market is characterised by a new institution of ambiguous property rights and related institutional uncertainty.
series ERES:conference
discussion No discussions. Post discussion ...
ratings
session Institutional aspects on Property market
last changed 2009/07/10 18:07
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