Abstract

This chapter examines the nature of the unorthodox ownership and governance structures in the transitional economies of East Asia. It begins by discussing the theoretical issues in innovative transformation and property rights reform. It describes the features and functions of local government property rights and the reassignment of property rights between state-owned enterprises (SOEs) in East Asia. It then examines the advantages of ownership and governance structures of township and village enterprises (TVEs) in China. It also examines the way in which private enterprises in China and Vietnam expand business through social trust and patron-client relationships with local government entities and officials.

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