Ding Chen
Law, Trust and Institutional Change in China: Evidence from Qualitative Fieldwork
Chen, Ding; Deakin, Simon; Siems, Mathias; Wang, Boya
Authors
Simon Deakin
Mathias Siems
Boya Wang
Abstract
China’s rapid growth in the absence of autonomous legal institutions of the kind found in the west appears to pose a problem for theories which stress the importance of law for economic development. In this article we draw on interviews with lawyers, entrepreneurs and financial market actors to illustrate the complexity of attitudes to contract, corporate and financial law and economic growth in contemporary China. In the case of product markets, we find that business relations are increasingly characterised by a mix of trust-based transacting and legal formality. Financial markets are less like their western counterparts, thanks to the preponderant role of government in asset allocation, and a lack of transparency in market pricing. Overall, China’s experience does not suggest that law is irrelevant or unrelated to growth, but that legal and economic institutions coevolve in the transition from central planning to a market economy.
Citation
Chen, D., Deakin, S., Siems, M., & Wang, B. (2017). Law, Trust and Institutional Change in China: Evidence from Qualitative Fieldwork. Journal of Corporate Law Studies, 17(2), 257-290. https://doi.org/10.1080/14735970.2016.1270252
Journal Article Type | Article |
---|---|
Acceptance Date | Nov 29, 2016 |
Online Publication Date | Jan 11, 2017 |
Publication Date | Jan 11, 2017 |
Deposit Date | Feb 2, 2017 |
Publicly Available Date | Feb 10, 2017 |
Journal | Journal of Corporate Law Studies |
Print ISSN | 1473-5970 |
Electronic ISSN | 1757-8426 |
Publisher | Taylor and Francis Group |
Peer Reviewed | Peer Reviewed |
Volume | 17 |
Issue | 2 |
Pages | 257-290 |
DOI | https://doi.org/10.1080/14735970.2016.1270252 |
Related Public URLs | https://ssrn.com/abstract=2898174 |
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Publisher Licence URL
http://creativecommons.org/licenses/by/4.0/
Copyright Statement
Advance online version © 2017 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group
This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://
creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium,
provided the original work is properly cited.
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