Network Capital, Political Capital, and Bazaar Economy in Rural Yunnan: Family Business Survey in a Periodical Market in Banqiao Township, Shilin County
This chapter examines the profile and behaviors of family businesses (getihu) in a rural periodical market in Yunnan Province. Focus is on the risk avoidance strategy adopted by family business. C. Geertz's study on the bazaar economy in Java is used as a reference framework. From the analysis on factors influencing the choice of risk avoidance strategies --the risk spreading strategy or the persistent trade relation strategy--, family businesses with network capital --entrepreneurs who have experience as a party member/grassroots cadre or experience working in formal economic organizations-- were identified as a group who adopt the persistent trade strategies. They strive to reduce risks taking advantage of the socio-political networks cultivated through their experience in the office. Moreover, family businesses with political status could be singled out as a characteristic group, which is filled with entrepreneurship. One of the important driving forces of entrepreneurship in the bottom end of the rural market arises from within the institutional/organizational framework of the party/state rule, or the legacy of the Mao era.
Year of publication: |
2000
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Authors: | Sato, Hiroshi |
Institutions: | Graduate School of Economics, Hitotsubashi University |
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