Institutions in Transition

"Studying institutional change regardless of whether it is focused on transitional or developing economies, may prove most fruitful when focused on its structuring of the means of production - land, labour and capital. This book singles outland as an object of study and places it in the context of one of the world's largest and most populous countries undergoing institutional reform, the People's Republic of China. The book demonstrates that private property protected by law, the principle of 'getting-the-prices-right', and the emergence of effectively functioning markets are the outcome of a given society's historical development and institutional fabric."--Jacket.