Agrarian Transformation and the Distribution of Fixed Productive Assets in China

The distribution of fixed productive assets is more unequal than the distribution of land in rural China, but the two distributions to some degree offset each other because of economic specialization and the role of rural industrial and commercial enterprises. Surprisingly, the distribution of fixed productive assets has the most equalizing effect on the distribution of rural wealth. This is partly due to the mixed ownership patterns of assets. The households with the highest values of fixed productive assets are not particularly rich, and neither are assetless households particularly poor. The distribution of fixed assets is a key reason why the distribution of wealth in rural China is actually more equal than the distribution of income, a result which is most unusual for a developing country.     

New approaches to economic development in peripheral rural regions

This paper explores new approaches to economic development in peripheral regions in the context of constraints on public expenditure, declining employment in traditional natural resource based industries, and globalisation of the economy. Three conceptual pairs ‐resource mobility and immobility; tangible and intangible factors; and global‐local interrelations — underpin three ideas about these new approaches, and their impact on differential economic performance observed in otherwise similar localities and regions. A case study is given to illustrate the role played by less mobile cultural, social and environmental assets in these strategies. However, a key feature of the cases is the importance of both local and extra‐local linkages, often at international level, whether this has to do with market or non‐market activity. The conclusions raise questions for research about the root causes of differences in economic performance between rural localities, whether local initiatives will suffice to counter further likely declines in public subventions and natural resource based employment and also about the focus of policy in such regions.     

Conceptualising European Privatisation Processes After the Great Recession

A wave of privatisation is unfolding in Europe in the wake of the financial crisis, but it has yet to receive serious scholarly attention. This paper examines the case of Ireland, where an austerity strategy and European Union International Monetary Fund bailout conditionality have given impetus to the transfer of public assets to the private sector. Theoretically, the paper explains the roots of the phenomenon with reference to a reformulated concept of “accumulation by dispossession” whose usefulness lies in emphasising the politico‐economic drivers of privatisation, which have been neglected in the mainstream literature. A typology is presented that argues that accumulation by dispossession manifests itself, in practice, through four main processes: (1) private repossession of assets nationalised during the financial crisis; (2) restructuring of state‐owned enterprises; (3) commodification of assets and services hitherto located outside the market; and (4) privatised stimulus through public–private partnerships. The paper's framework should be useful to conceptualise ongoing privatisation processes in other European countries.     

When Do We “Just Say No”? Policy Termination Decisions in Local Hospital Services

This paper develops a two‐stage decision‐making model of the public policy termination process, which integrates political and economic influences on local decision makers. We empirically explore the model using data on the provision of local public hospitals in California over 1981–95. The results provide support for the model as we find that triggering events as well as characteristics of the local decision‐making context affect the termination decision. For the case of public hospitals, we find that lower state and local revenue growth rates increase the likelihood of termination, while decision makers in communities with a larger local health budget, more unionized public employees, and a larger private hospital sector are less likely to terminate local public hospitals. The implications for public policy and for our understanding of the termination process are discussed.     

The use of regulation and governance theories in research on post-socialism: the adaptation of enterprises in Vyborg1

This article deals with developments since the collapse of socialism in Vyborg, the former Finnish city transferred to the Soviet Union's north–west frontier in 1944. It assesses how enterprises founded during the socialist era, their heirs, and new Russian and foreign firms, have coped with economic change and adjusted to the new economic system. It also explains the evolution of hybrid forms of activity on the enterprise level and their impact on the development of Vyborg as a local economy. This paper shows that the traditions of socialism embodied in many enterprises' adaptation strategies have helped the public sector in financial crisis because enterprises have continued the socialist traditions to take care of fractions of public infrastructure.     

Local Policy Responses to Globalization: Place-Based Ownership Models of Economic Enterprise

The destabilizing forces wrought by economic globalization increasingly buffet local communities throughout America. This article explores a local policy strategy for coping with the effects of these forces and restoring some degree of stability to local economies. This strategy entails the creation of place-based ownership models of economic enterprise. With ownership and control held in a more collective or community-oriented fashion, such enterprises tend to anchor or root investment more securely in communities, providing a counterforce to globalization. We present and critically assess six place-based ownership models while providing illustrative examples to demonstrate how each model can work in practice.     

BOOK REVIEW

This article examines the transition from cultural industries to creative industries policies in the English regions between 1980 and 2010. It argues that audio-visual policy in this period is best understood as a trajectory: the gradual, differentiated, contested, but overall coherent development of a policy discourse and corresponding institutional structure. This trajectory can be mapped onto the wider political economy of the period: the transition from social-democratic reformism to neo-liberalism at the end of the 1970s and up to the present. This process has resulted in audio-visual policy being determined to a large degree by the perceived needs of commercial interests, up to the point where regional cultural policy is virtually indistinguishable from economic policy. The transition from cultural to creative industries reflects the development of the neo-liberal state in which cultural policy has been instrumentalised within the larger project of the privatisation of public assets and the shift of relative power from labour to capital.     

20世纪50年代基本建设投资的前提和结构

20世纪50年代,我国内地基本建设投资的前提是:生产力水平低下,人均产值低;资金紧缺,但资产相对集中;西方国家对我国实行经济封锁;我国确立了优先发展重工业的工业化方针.通过对我国经济建设投资的产业结构、区域布局、项目结构、主体结构的分析,我们可以得到几点启示:投资管理体制的变化要适应生产力发展的要求;建设规模不能超过国力许可的范围,急于求成必将适得其反;综合平衡应从短线出发.     

Microcredit and Women's Empowerment: Through the Lens of Time‐Use Data from Rural India

This study examines the impact of microcredit on male and female time use, and draws on this analysis to explore the linkages between credit and women's empowerment. A study of time use can help understand these linkages, because if credit is intended to improve women's livelihoods, it can also be expected to influence the way women allocate their time. Its other advantages are that it does not suffer from much time lag and can be objectively measured. Using household survey data from rural India, the findings show that while microcredit has little impact on women's time use, it helps their husbands move away from wage work (associated with bad pay and low status) to self‐employment. This is because women's loans are typically used to enhance male ownership of the household's productive assets. Further, it is found that it is only women who use loans in self‐managed enterprises who are able to allocate more time to self‐employment. If credit is intended to increase the value of women's work time, it follows that it is not access to loans but use of loans that matters. Ensuring women's control over loan‐created assets must therefore be a critical policy objective.     

从老股票看20世纪50年代的股份制企业

从已搜集到的20世纪50年代上海市的几种老股票来看,新中国成立初期的股份制企业至少存在三种类型。旧社会承继下来的资本主义性质的股份制企业是接受社会主义改造的重点对象和主角,通过实行“定息”,以“赎买”的方式,切断了所有制与经营者之间的联系,此时的股票与债券无异,股东与企业的关系是债权债务关系;农村的供销合作社和城市中的街道办股份制企业,与真正意义上的股份制企业相比都有很大的不同,它们的目的都是在抵制资本主义复辟和改变小生产方式的前提下发展社会生产力,目标是建成生产资料公有制的社会主义计划经济。     

Laissez-faire governance and the archetype laissez-faire city in the USA: exploring Houston

This article explores the governance of Houston, the archetype laissez-faire city in the USA. The research examines the complexity of Houston's minimal government intervention rhetoric, which in practice involves extensive federal, state and local government involvement in economic development in combination with a disinterest in social service and income maintenance programmes. This governance strategy is outlined through an examination both of regional public policy and local public finances. The analysis illustrates that Houston's local governance has historically been based on a management approach that attempts actively to minimize costs for potential investors to locate in the City, through public intervention, while at the same time generating an unattractive urban environment for the socially marginalized — hence the disinterest in social services. Thus, despite the local laissez-faire rhetoric, government intervention in Houston's growth has been vital and has produced the extraordinary impacts usually expected from public involvement in local economic development. The foundations of this local governance strategy are both predicted and advocated by the public choice approach, a theoretical framework whose emphasis on inter-municipal competition advances management tactics based on maintaining low taxes and low expenditures on public welfare. The research also shows, however, that Houston is unique, when compared to other economically successful US cities, in following such an extreme approach of this management strategy.     

Enterprise Clusters and Industrial Districts in Colombia's Fashion Sector†

This paper presents the theory of enterprise clusters and industrial districts, and contrasts it with the evidence of two productive agglomerations in the fashion sector in Colombia. The empirical evidence on Bucaramanga and Medellín, that host the largest groups of Colombian textile and clothing producers and exporters, is based on a survey questionnaire, carried out in November–December 1998. The results of the survey confirm the relevance of the Industrial district concept in understanding the recent developments of Colombia's textile and garments industry, and reveal the presence of some dimensions of an enterprise cluster in both Medellín and Bucaramanga, although each with different characteristics. However, both Colombian clusters are characterized by a low degree of firm–level specialization and poorly–developed enterprise networks. This is similar to what has been observed in most enterprise clusters in Latin America, and may clearly hinder the local external economies and collective efficiency. Backward linkages are poor or lacking in both clusters. The strategy prevailing in most enterprises has been the internalization of many stages of the productive process. Forward linkages are much stronger, and the retailers play a crucial role in the commercial phases. However, only Bucaramanga firms have entered global production and marketing networks, whereas Medellín firms are mainly oriented to the national market. Moreover, the two clusters have developed under very different economic policy regimes, and this had had its consequences on the clusters' performance and structure.     

THE POLITICAL ECONOMY OF WORKER PENSION FUNDS

Increasing concentration of economic power within the corporate sector, as well as the extent of corporate control by a few financial institutions such as commercial banks, have been subjects of intense scrutiny and debate in recent years. However, the role of private and public worker retirement trusts in providing power for institutional investors has not been adequately addressed. Pension fund assets, which were relatively inconsequential prior to 1960, and their investment in and share of total corporate equities minor, have grown to over $l410 billion by the end of 1977. In their analysis of and interest in public and private pension trusts, scholars, employers and even employees have tended to emphasize narrow economic issues such as investment performance. It is the central argument of this article that workers’ funds have become a major source of capital in the American economy, and as such have been used to help create and/or sustain practices that adversely impinge on workers themselves. It is argued that pension assets have contributed to: 1) the increasing power of financial institutions; 2) growth of corporate profits that only minimally benefit some pension plan participants; 3)capital shortages for 'socially useful’ investments; and 4)support of corporate enterprises that refuse basic worker demands including unionization itself. The study further suggests that the rapidly growing pension assets have the potential to serve‘the public interest’ as well as the needs of workers. Threat of withdrawal of funds from selected money managers and corporations, and utilization of share–holder voting rights to influence corporate policies can be potent weapons for organized labor. Since this is an exploratory analysis, the aim of the article is to gather, present and clarify basic information on worker pension trusts and to propose alternative avenues for future research in this critical area.     

建国初期党的"劳资两利"政策评析

基于对新中国建国方针的认识、对社会主要矛盾的判断和利用私营经济发展生产力的考虑,建国初期党和政府把“劳资两利”确定为处理私营企业劳资关系的基本政策。它包括保障私营企业工人的权益、保障资本家的正当权益、努力构建和谐的劳资关系三方面内容。这一政策体现了以毛泽东为核心的第一代中央领导集体勇于探索、开拓创新的伟大精神,极大地丰富和发展了马克思主义劳资关系理论,为构建当代中国非公有制企业和谐的劳资关系提供了有益的借鉴。     

Competing discourses of built heritage: lay values in Irish conservation planning

Built heritage conservation has traditionally been shaped by professionals through an ‘authorised heritage discourse’, emphasising expert knowledge and skills, universal value, a hierarchy of significance, and protecting the authenticity of tangible assets. However, while the purpose of built heritage conservation is widely recognised to be broad, encompassing cultural, social and economic benefits, it takes place in the presence, and on behalf, of a wider public whose values and priorities may differ starkly from those of heritage power-players. Drawing on the perspectives of a range of built heritage actors in three small towns in Ireland, this paper contributes to these debates, exploring the competing values and priorities embedded within lay discourses of heritage. Based on critical discourse analysis of interviews with local actors, the paper identifies that collected memory and local place distinctiveness, contributing to a sense of local identity, are of central importance in how non-experts construct their understanding of built heritage. In the Irish context, this is particularly important in understanding social and cultural statutory categories of heritage interest. The paper concludes on the implications for policy and practice and, in particular, the need to more effectively take account of non-expert values and priorities in heritage and conservation decision-making.     

Building local nodes in a global sector: Clustering within the aeronautics industry in Montreal

This article analyzes the mechanisms through which metropolitan governance is established in Montreal's aeronautics sector, one of the most important and innovative industries in the region. The article also examines the role of lead firms, socio‐economic actors, and public agencies from a territorial point of view. It is established that on the one hand the existence of a small number of prime producers at the local level facilitates productive linkages among businesses through subcontracting, and on the other hand, the intensive participation of intermediate socio‐economic agencies and organizations ensures a metropolitan anchoring of the sector and creates a strong territorial identity among the players.     

‘The dilemmas and paradoxes of public bodies performing commercial tasks’: The rhetoric of rationality and the rejection of traditional labor philosophy on the role of the state.

Traditionally a commitment to an active public sector has been a centrepiece of Labor's official thinking. Rhetorical conflict between Labor and non‐Labor has always focused upon the role of the State. The most recent instance of this was the debate between Labor and non‐Labor over the Fraser Government's Review of Commonwealth Functions (commonly known as the ‘Razor Gang').

Traditions have been changing and developing on both sides. The changes made by E. G. Whitlam have been widely discussed. Three years and as many months after the election of the first Hawke Government Labor traditions themselves are being rewritten.

In this paper I shall use the policy area of the function and administration of public sector enterprises in order to demonstrate the depth and significance of this change. It has been said also that the Hawke Government has reduced politics to pronouncements from the Kirribilli Cabinet and non‐productive factional squabbling. The ‘fourth graders’ of the Hawke Government, which apparently includes members of the outer Cabinet as well as the backbenchers, have been excluded from the policy‐making process. This is notwithstanding the firm intentions of the Report of Task Force on Government Administration.

The public sector area can be used to demonstrate shifts along four axes, (i) Significant frontbenchers have been bent upon changing the rhetoric, so that the activities of public sector enterprises are assessed in terms like ‘efficiency’ and ‘dollar rationality’. Change in rhetoric is part of a wider tendency to reject appeals to traditional Labor imagery (such as equality, welfare, the public sector as a good in its own right and other social as opposed to economic goals).

(ii) This, in turn, is related to a rejection of the traditional Labor practices whereby the Labor Party Platform (which could broadly be seen as a pro‐public enterprise document) is no longer seen by significant members of the Labor front‐bench as the most important guide to policy, (iii) Other sources of policy have become more salient, in the case of public sector enterprises, the rhetoric and ideas of the Department of Finance have become prominent (iv) The changing tone of the rhetoric has reflected to a small extent changes being made to official party theology as expressed in the Party Platform. Key individuals have successfully opposed left‐wing challenges to maintain and to shore up the role of the public sector and of public sector enterprises. To the extent that the Platform will retain its traditional symbolic role these activities are significant.

Policy‐making has been about domination from above and the ‘crowding out’ of traditional ideas and their sources. Control, however, has not always been successful. Sources of objection have included the Left Faction of Caucus, key Ministerial Departments (viz. Transport and Communications) dealing with public sector enterprises, and the Ministers themselves.     

The Geography of Knowledge Transfer and Innovation in Biotechnology: The Cases of Scotland,Sweden and Denmark1

This paper addresses themes at the heart of policy debates on innovation systems and concentrates on the process of progressive transformation that has been affecting the therapeutic and diagnostic sectors as a result of the application of molecular biology. The focus is on the relationship between firms' locational choices, innovation policy and industrial dynamics. The issue of knowledge transfer is explored and the discussion addresses the theoretical controversy between two contrasting approaches: while some describe open networks and collaboration as means of enhancing competences for learning, others argue that, as intellectual assets are protected by property rights, knowledge adheres to specific locations mainly as a consequence of scientists' immobility. Then it is assessed whether knowledge transfer, in its different forms, is prevalently local or tends to occur on a global scale. Finally, the perceived effectiveness of some policy measures directed to enhance connectivity among players holding complementary knowledges is examined. Countries such as Sweden, Denmark and Scotland, who have pioneered the implementation of cluster thinking in Europe, provides an ideal setting to conduct this empirical study.     

How real estate became ‘just another asset class’: the financialization of the investment strategies of Dutch institutional investors

The managers of a growing wall of money are continuously searching for investment opportunities. The financialization literature describes how this mobile capital puts pressure on commodities, debt, public services and economic activities to transform into investable, tradable, financial products. Regarding real estate, these investigations show how opaque, local, non-standardized goods, highly depending on both local legislation and developments, have been transformed into liquid, globally traded financial assets. By analysing the real estate investment strategies of Dutch institutional investors since the 1980s, this paper shows how a quantitative framework increasingly provides the basis for institutional investors’ real estate investment strategies. Direct ownership of properties has been exchanged into shares of properties, that is, fictitious capital, creating an impetus for ‘objectified numbers’ to measure the performance of these indirect investments. As knowledge about real estate has been outsourced, Dutch institutional investors now perceive real estate increasingly as ‘just another asset class’, thereby increasing leverage and volatility. This paper not only shows how finance ‘financialized’ itself by adopting a quantitative investment perspective, but it also offers an empirical account on how investment properties are transformed into financial assets that put pressure on state agencies to mobilize urban planning to deliver more of such assets.     

The Ordinary City

As debates on globalization have progressed from an earlier phase in which commentators saw the intensification of world-scale flows and processes as the negation of local identities and autonomies, the city has been 'rediscovered' as the powerhouse of the globalized economy. Against the view that questions, for example, the continued specificity of the urban in an era increasingly mediated by locationally liberating, advanced telecommunications and rapid transport networks, some strands of urban research assert that cities are becoming more important as the key creative, control and cultural centres within globalizing economic, cultural and social dynamics. Building on these strands, this paper evaluates the assets that cities and metropolitan regions provide in an era of globalization. It attempts to develop an alternative perspective on the city based on the idea that contemporary urban life is founded on the heterogeneity of economic, social, cultural and institutional assets, and concludes by using this perspective to develop implications for urban policy and the quest for social and territorial justice.