| With the reformation and open policy of China, the institution transition and innovation of nationalized businesses may be the core of Chinese Urban Reformation. It is nearly thirty years since the sate-owned businesses has developed the ownership, followed by ownership expansion, taxes instead by the interests, money given instead by credited, leasing system, contract system, rights departed system, the modern corporation system, firm system, shared system and the deeply developed reform for nationalized businesses. This essay is going to make a confidential framework for the history of the innovation of stated businesses. As the firm is the main body of the market, it should be confined by the price system. Armen Alchian who is accord with that the key aspect the market is the construction of property rights of a state’s economic society. So we do our best to construct the property rights theory for that changing.This paper can be divided into two parts for six chapters:one is the theory study for the first four chapters, and the other is the training explanation for two chapters.In the first chapter is the foreword, we talk about the background, methodology and the meaning of this paper.In the second chapter, the concept of "property rights" is being discussed. As Chinese Institution-Economists have known the concept of property rights from the works of New Institution Economists, they may have some difficulties in this idea. So it is necessary to dig up from the modern methods of economics in NIE and deduces the true meaning of "Property Rights". It is known to all that we must study up the New Classic Economic Theory for. At the first proportion we discuss the words-transaction between Chinese and English for Property Rights, in the end, get rid of the other explanations, such as wealth, asset, by the principle of definite notion and various meanings in economics. Lastly, we make the definition of property for economic or scare goods, service. We define "right" and "power" in the second section. On account of these two conceptions are not born in economic, we should pick them up from Economic, Law and Politics, then we get it. "Property Rights" not only means some material goods and services but also includes all of the rights hidden in "property" soon and latter which getting from the bonuses by investing.The literature of the Property Rights is in chapter Three. The research of property rights in our native academic society is for two parts:the ownership theory of Carl Marx and the Modern Property Rights of NIE. The first position is based on the logic of Carl Marx and the other is by the basic hypothesis, dating from Alfred Marshall (1938) to Paul A. Samuelson (1998), which deduces the New Institution Economic Research by Ronald H. Coase, Armen Alchian, Harold Demsatz, Steven N. S. Cheung and Yoram Barzel.The Theory of Ownership by Carl Marx, can be thought of adding Marx’s theory into one substance-Property Rights, concerns the movement between the fundamental economy and the superstructure by using material and dialectic instructions for history. This is the brilliance for him. Ronald Coase who is the patriot for NIW advocated that not only the idea of "Coase Theorem" that is "with costless market transactions, the decision of the courts concerning liability for damage would be without effect on the allocation of resources" (Coase,1960), but also the method of studying institutions.Armen Alchian reaches one accord on the method of using the economic goods means property rights at first, the characteristics for property rights are going to be that rights can be divided and transacted. He analyzes four frameworks of the property rights, for the common rights, the public rights, the state rights based on democratic society and the "useless" rights, which means as the great social cost it is hard to clear the line for these rights. Harold Demsatz hammers out that property rights is a type of social contract, which gives rise to inform and have the material in future in transactions, may be modified by habits and institutions. "Property rights" means that this type of rights does pros and cons for the owner and surrounding people, the basic foundation of that is which can advocate the external effect into oneself in the greatest extent. Then he makes a guideline for the emergence of one right. In the end, he also takes reasons for common rights, private rights and state rights, which is not similar to Alchian’s. Steven N. S. Cheung gives the idea of "Property Rights" in a whole whelm that property rights and the cost of transaction are two sides of one coin, but only property rights are definitely easier to deal with, because the economic property rights are abstract. On the other side, the fee of transactions is material that can be detected in the true society. In another theoretic framework he puts "property rights" into a frame which contains the rights of using, getting interests from the goods and the authority of transacting. During this property rights’structure, the ownership of property which Carl Marx emphasized is useless, as soon as one being devoted enough time for the owner’s aim. He estimates that there are three steps for the institutions of property rights in our society:drawing up persons by their status, distributing rights and wealth by the government’s regulation and by property. He suggests that China is going from the first step to the third step.Yoram Barzel, who is well known for his microeconomic analysis in property rights, restores a detail frame for this study. He agrees with the point of Steven for property rights and announces that the rights of transaction is more considerable important than other rights. He invents the "public domain theory":due to it is impossible to detect all rights of the property that there must be some kinds of rights in "public domain". He agrees that the transaction cost is the main reason for the symptom of goods-exchanging so that the suppliers are not the demanders. Lastly, he compares the methods between the property rights’and the Walrasian Equilibrium’s.In a nutshell "property rights", as a piece of institution, are the definitely rights for economic goods and services. The clearly considerable definition of property rights is efficient in the real world, and the contents of property rights get the relationship with ownerships, contacts, external influences etc which make a guideline of the Modern Property Rights’research. The research for property rights is not only in the New Institution Economics, but also intrudes into some others social sciences, such as the realms of Law, Sociology and Political Science, which make the multi-courses for the study of "property rights".In the fourth chapter, we discuss the demonstration of Coase’s Theorem and give my definition of Coase’s Conjecture. Coase proved that theorem in two methods, then which is not completely born out by Joseph Felder. Coase gives three theoretic realms for institution research:regulation and the freedom of market, law rights in resources and the economic efficient and the comparison between the allocation of property and the wealth. Those three statements are developed in other NIE scholars.In chapter Five, we give a guild line for the reformation of Chinese nationalized businesses in thirty years. Since there is a few similarities between the reformation of urban and the country, we discuss the rural economic reformation before the urban. There are six periods in this chapter:self-ownership of expansion for business between Dec in 1978th and Sep in 1984th, leasing system between Nov in 1984 and Apr in 1989, the changed institution for business between in 1989th and in 1992th, the modern institution of the firm between in 1992th and in 1997th, getting rid of the starvation and developing the shared system between in Sep 1997th and in Sep 2002th and the deeply development of nationalized business in Oct 2002th.In chapter six we use the framework of the property rights to explain the history of nationalized businesses’institution reformation. I conclude that there is a way of the clearness for the property rights in the sated-owned business with our economic reformation. |
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