Institutional Environment And Localization Of Economic Law

Since reform and opening-up, China has been learning from western civilization duringher process of the rule of law. At the same time, a collective reflection on the ideal prospect ofChinese law has germinated. Against this background, Researchersin the field of economic law also began to deliberate on localization of economic law. As weare lack of an analysis framework for studying localization of economic law, we always fail todiscover real problems or give a reasonable tactics on law. Introducing an analysis frameworkof system environment helps to connect substantial condition and ideologyto indigenous issues and indigenous resource, which provides a new path for studying onlocalization of economic law. This article builds a theoretical framework after atheoretic construction of theoretic construction. And then study the issues that economic lawshould concern on and how they come to legal institutions in formal and informal institutionalenvironment with the framework.This article consists of four parts, specific content includes:The first part, summary of researches and issues presentation. Summarize researches onlocalization of economic law and find out the deficiency. Then deduce necessity oflocalization of economic law.The second part, theoretical basis for localization of economic law. Define the coreconcepts of this paper-system and system environment. Reveal the hidden meaning in thesystem environment: conservative factors and possibility of progress. Based on the foregoing,in virtue of category of regulation in fact and relation in norm explain the significance ofsystem environment for localization of economic law.The third part, the formal system environment and localization of economic law. Takesystem environment of socialism and system environment of public ownership as examples todiscuss localization of economic law. A weaker stability of regulation in fact in systemenvironment of socialism requires rationality and validity of system when designed, andRelatively open but stable normalization requires limiting the field where market functionsand limiting the power of capital. The stronger factuality and the normalization thatemphasizes fairness requires economic law adhere to the system environment of publicownership and care the distribution and utilization of public property.The fourth part, the informal system environment and localization of economic law. Take the concept of ethic and right and credit culture as examples to discuss the localization ofthe economic law. Based on the concept of ethic and right, we can deduce the demand that weshould limit right standard and emphasize strict law obligations on market order. In the creditenvironment, practical understanding of credit makes a need for credit system. The essence ofcredit happens to take a diversion from moral attribute to property attribute and it causes areflection on finance supply. As a result, the supply of finance (especially the ruralfinance) has become the important legal issue from the perspective of economic law.