Institutional Studies On Property Rights Market In The Eco-field

This paper consists of 4 parts or 6 chapters. The first part (chapter 1) illustrates rationale of property rights market in the eco-field; the second part (chapter 2, chapter 3 and chapter 4) is the theoretical studies on the institutions of EPRM, i.e. Ecological Property Rights Market; the third part (chapter 5) the application of the theories previously stated; and the last part (chapter 6) the case studies on the relevant practice in China.Part 1 (chapter 1) is made up of 2 sections: (1) retrospects and research progress of ecological economics theory: the author describes here the theoretical origin of ecological economics and points out the 3 great leaps forward that contemporary studies on ecological economics undergo, namely, a) the ecological resources themselves were recognized to possess the important "natural value"; b) the breeding of the ecological capital is embodied to form the core of sustainable development; c) the property rights economics is introduced to analyze the problems arising from ecological economics. Finally, development of ecological economics theory in China is also briefly introduced. (2) Rationale of property rights market in the eco-field: the author illustrates the advantages and disadvantages of Coase Theorem, analyzes respectively the property rights, institutions and their correlations, and finally expounds Mixed Mechanism of EPRM.Part 2 (chapter 2, chapter 3 and chapter 4) is the theoretical core of the dissertation. The author studies how governments and enterprises function together in the EPRM from the viewpoint of institutional arrangements of both the government and the enterprise.Chapter 2 "Institutional Arrangements for Government to Effectively Regulate the Ecological Economy": owing to its nature of public goods and externalities, there exists extensively the failure of "free" market mechanism in the eco-product market. There is no way for the optimal pricing of eco-products to be determined by its marginal cost. Consequently, government intervention is needed to regulate the ecological market. However, there also exists the failure of government eco-regulation. The total social welfare does not necessarily increase if we substitute one failure for another. Therefore, we must first optimize the government eco-regulation in terms of its institutions, hi section 1 of this chapter, the theoretical sketch of government regulation is introduced. In section 2, the author illustrates some reasons why eco-market needs government regulation, then introduces general economic measures for government eco-regulation, and finally summarizes ecological public regulatory system, namely compulsory law enforcement eco-regulation, instructive ecological moral ethics in addition to government administrative and economic eco-regulation. In section 3, the author introduces the main government eco-regulation measures in the developed countries, including their taxationsystem, subsidiary measures, transaction system of ecological property rights, enforced incentive measures and deposit-refund System. In section 4 "Optimize Institutional Arrangements for Government Eco-regulation", the author first analyzes reasons why government eco-regulation fails, then puts forward the institutional approaches for government to optimize eco-regulation, namely, strengthen the regulation to the regulator, establish a mechanism to dispel ecological public rents, deregulate and optimize regulation, modify the regulatory system and optimize regulatory structure.Chapter 3 "Institutional Conditions for Enterprises to Effectively Trade Ecological Property Rights": since one of the main bodies of EPRM is enterprises, the premise for EPRM to function effectively is that enterprises fully possess all the interior and exterior institutional conditions. The optimal interior condition that enables them to adapt to the EPRM transaction is that the interior transaction of property rights inside the enterprises should be efficient, i.e. the inner governance mechanism of property rights should be effec...