This volume examines the role of law in economic development. It focuses on China and analyzes how the development policies and institutional characteristics of the emerging Chinese market economy might aid policymakers, in developed and developing countries, to create and reform frameworks to achieve equitable and sustained development.

Introduction ; PART I: CONCEPTUAL FOUNDATIONS ; 1. Law and Development Economics: Toward a New Alliance ; 2. Creating the Institutional Foundations for a Market Economy ; 3. Analyzing Legal Formality and Informality: Lessons from the Land-titling and Microcredit Programs ; PART II: TOWARDS LAW AND DEVELOPMENT POLICIES WITH CHINESE CHARACTERISTICS ; Section introduction ; A. PROPERTY RIGHTS ; 4. The Economics Behind Law in a Market Economy: Alternatives to the Neo-Liberal Orthodoxy ; 5. Some Caution about Property Rights as a Recipe for Economic Development ; 6. Rural Land Rights in China ; 7. The Role of Property Rights in Chinese Economic Transition ; B. INTELLECTUAL PROPERTY RIGHTS FOR CHINA'S DEVELOPMENT ; 8. Institutional Design for China's Innovation System: Implications for Intellectual Property Rights ; 9. The evolution of China's IPR system and its impact on the innovative performance of MNCs and Local Firms in China ; 10. The Property and Intellectual Property Exchanges (PIPEs) in China since the 1990s ; C. CORPORATE RIGHTS ; 11. The China Aviation Oil Episode: Law and Development in China and Singapore ; 12. Legal Deterrence: The foundation of Corporate Governance - Evidence from China ; D. SOCIAL RIGHTS ; 13. Generosity and Participation: variations in Urban China's Minimum Livelihood Guarantee Policy ; 14. The Intergenerational Content of Social Spending: Health Care and Sustainable Growth in China ; E. LABOR RIGHTS ; 15. The Hukou Reform and Unification of Rural-urban Social Welfare ; PART III: INSTITUTIONAL FOUNDATIONS FOR THE CHINESE MARKET ECONOMY: THE STATE ; Section introduction ; A. DECENTRALIZATION ; 16. Deregulation, Decentralization and China's Growth in Transition ; 17. From Industrialization to Urbanization: The Social Consequences of Changing Fiscal Incentives on Local Government's Behavior ; B. ENFORCING JUSTICE ; 18. China's Network Justice ; 19. China's Courts: Restricted Reform

Explores how the lessons of the Chinese market economy might help policymakers in other countries to achieve equitable and sustained development Provides a critique of the prevailing law and economics doctrines that have been influential in shaping legal doctrines and institutions around the world Explains which institutional arrangements, including legal systems, are most likely to promote development

David Kennedy joined the Harvard Law faculty in 1981 and holds a Ph.D. from the Fletcher School at Tufts University and a J.D. from Harvard. He has worked on numerous international projects as an attorney, including work with the United Nations, the Commission of the European Union, and with the private firm of Cleary, Gottlieb, Steen and Hamilton in Brussels, where his work combined European antitrust litigation, government relations advising, and general corporate law. A member of the Council on Foreign Relations, he has served as Chair of the World Economic Forum's Global Advisory Council on Global Governance. At Harvard, he served as Chair of the Graduate Committee and Faculty Director of International Legal Studies. He has lectured as a Visiting Professor at numerous universities across the across the world. In 2008-2009, he served as Vice President for International Affairs, Professor of Law and David and Marianna Fisher University Professor of International Relations at Brown University. Joseph E. Stiglitz is the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 report of the IPCC, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisors under President Clinton and chief economist and senior vice president of the World Bank for 1997-2000. Prior to Columbia he held the Drummond Professorship at All Souls College Oxford, and professorships at Yale, Stanford, and Princeton. He is the author of the best-selling Globalization and Its Discontents, Making Globalization Work, Fair Trade For All, and most recently of Freefall: America, Free Markets, and the Sinking of the World Economy. He has presented invited lectures on many occasions at the China Development Forum and other events in China

Explores how the lessons of the Chinese market economy might help policymakers in other countries to achieve equitable and sustained development Provides a critique of the prevailing law and economics doctrines that have been influential in shaping legal doctrines and institutions around the world Explains which institutional arrangements, including legal systems, are most likely to promote development