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Look Inside Law and Political Economy in China

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

Part of ASCL Studies in Comparative Law

Author: Tamar Groswald Ozery, Hebrew University of Jerusalem

Date Published: August 2023
availability: Not yet published - available from October 2024
format: Hardback
isbn: 9781009158244

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About the Authors

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.
- Combines law and political economy as a novel analytical framework to examine China's growth and development
- Uses a vast range of primary sources to provide a holistic, chronological portrait of China's market development since 1978 and the role of law in that process
- Provides a comprehensive, comparative account of corporate governance institutions in China
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Reviews & endorsements
'What is the role of law in the dramatic development of Chinese firms and Chinese capital markets in the last decades? Tamar Groswald Ozery explores this critical question by skillfully examining numerous corporate law reforms in China in view of its unique political context. The result is a remarkable book that offers a goldmine of information on Chinese corporate governance, a fascinating account of the different functions of corporate law in China's autocratic party-state system, and new lenses for understanding the relationship between law and development.' Mariana Pargendler, Professor of Law at Fundação Getulio Vargas Law School in São Paulo
'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,, Professor of Law, Stanford Law School
'Ozery's richly researched book tells the long story of the role of law in different periods of economic development in China. She shows definitively that law matters in structuring the role of the party-state in China's firms and markets. Ozery's work is legal and political economy scholarship at its best.' Meg Rithmire, Associate Professor in Business, Government, and International Economy Unit, Harvard Business School
'Law and Political Economy in China has raised the bar for studies of how law works in China. It is meticulously researched, deeply learned, wonderfully insightful and throughout scrupulously executed. Anyone interested in understanding how corporate governance works in China will need to engage with Professor Groswald Ozery's excellent book.' William P. Alford, Professor of Law, Harvard Law School
'Law and Political Economy in China makes a compelling case that the political functions of law have been at least as significant in shaping China's development path as the role of law in the economy and in markets. Her work should be of interest to political scientists, corporate governance scholars, law and development experts, and China specialists, but also to anyone seeking to understand the role of law in China, both past and present.' Virginia Harper Ho, The China Quarterly
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Product details
- Date Published: August 2023
- format: Hardback
- isbn: 9781009158244
- length: 304 pages
- dimensions: 235 x 160 x 20 mm
- weight: 0.54kg
- availability: Not yet published - available from October 2024
Table of Contents
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.
Look Inside
Author
Tamar Groswald Ozery, Hebrew University of Jerusalem
Tamar Groswald Ozery is an Assistant Professor at the Hebrew University of Jerusalem. Previously, she was a Grotius Fellow (Michigan Law), a Research & Teaching Fellow (Harvard Law), and the editor of the Harvard Law School Forum on Corporate Governance. Her published scholarly works focus on Chinese corporate governance, cross-border investments, and party-state market relations. She is a frequent commentator on China's legal system, political economy, and global economic integration; and has testified before the US-China Economic and Security Review Commission. Prior to academia, she spearheaded the China department of a leading Israeli law firm.