Property rights in China are moving in two different directions. In some villages, private rights are secure and to some degree marketable; in other villages, individual rights are increasingly restricted and suject to more regulation and reallocation. Administrative reallocation tends to promote...

In China, where collectives own farmland but farmers may hold "use rights" to the land, a case can be made for a property rights system with incomplete security of tenure but with strong transfer rights, which permit "specialization without regret"-- so farmers can recoup the value of an...

In China, where collectives own farmland but farmers may hold use rights to the land, a case can be made for a property rights system with incomplete security of tenure but with strong transfer rights, which permit specialization without regret - so farmers can recoup the value of an investment...

Property rights in China are moving in two different directions. In some villages, private rights are secure and to some degree marketable; in other villages, individual rights are increasingly restricted and subject to more regulation and reallocation. Administrative reallocation tends to...

Commonly employed global tests for separability between production and consumption decisions are theoretically inappropriate when the market failures creating non-separabilities differentially constrain some, but not all households. Simulated maximum likelihood estimates using Chinese panel data...

While the literature on consumption insurance is growing fast, little research has been conducted on how rural consumption insurance is affected by democracy. In this paper the authors examine how consumption insurance of Chinese rural residents is affected if the local leader is democratically...