Law and Political Economy in China: The Role of Law in Corporate Governance and Market Growth

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Tamar Groswald Ozery (Hebrew University of Jerusalem)

Law and Political Economy in China

The Role of Law in Corporate Governance and Market Growth

Tamar Groswald Ozery (Hebrew University of Jerusalem)

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English

Cambridge University Press
24 August 2023

Comparative politics; Public administration; Economic growth; Political economy; Company, commercial & competition law

Series: ASCL Studies in Comparative Law

Applying a novel theoretical approach, Tamar Groswald Ozery combines law and political economy to deconstruct the role of law in China's market development since 1978. The book examines how economic and administrative powers within China's Party-state system have been legally and politically configured throughout China's growth process. Using a vast range of primary sources, Ozery illuminates how the law acts as a mediating institution that translates and gives shape to the relations between politics and economics. Using the evolution of public firms and corporate governance as a case study, the book illustrates the complex relationships between law, politics, and economic development, and sheds new light on the possible varieties of growth-supporting governance institutions in firms. By studying China's distinct market experience through the lens of law and political economy, the book offers a significant contribution to development studies, comparative corporate governance, and interdisciplinary discussions about China as a growth model.

By: Tamar Groswald Ozery (Hebrew University of Jerusalem)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
ISBN: 9781009158244
ISBN 10: 1009158244
Series: ASCL Studies in Comparative Law
Pages: 304
Publication Date: 24 August 2023
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Introduction; Part I. Economic Development and the Role of Law: 1.1 The Traditional Framework; 1.2 Law and Political Economy: A New Paradigm; Part II. China's Development Trajectory and the Role of Law: 2.1 Early Reform Era (December 1978–1991); 2.2 Legal Modernization Era (1992–2009); 2.3 Legalized Politicization Era (From 2010 to Present); Part III. Law and Political Economy in Corporate China: 3.1 Corporate Governance under Market Experimentation; 3.2 Corporate Governance under State Capitalism; 3.3 Legally Politicized Corporate Governance; 3.4 Legally Politicized Corporate Governance as a Functional Alternative; Conclusions; Appendix: Methodology and Data Selection; Index.

Tamar Groswald Ozery is an Assistant Professor at the Hebrew University of Jerusalem. Previously, she was a Grotius Fellow (Michigan Law), a Research & Teaching Fellow (Harvard Law), and the editor of the Harvard Law School Forum on Corporate Governance. Her published scholarly works focus on Chinese corporate governance, cross-border investments, and party-state market relations. She is a frequent commentator on China's legal system, political economy, and global economic integration; and has testified before the US-China Economic and Security Review Commission. Prior to academia, she spearheaded the China department of a leading Israeli law firm.

Reviews for Law and Political Economy in China: The Role of Law in Corporate Governance and Market Growth

'What is the role of law in the dramatic development of Chinese firms and Chinese capital markets in the last decades? Tamar Groswald Ozery explores this critical question by skillfully examining numerous corporate law reforms in China in view of its unique political context. The result is a remarkable book that offers a goldmine of information on Chinese corporate governance, a fascinating account of the different functions of corporate law in China's autocratic party-state system, and new lenses for understanding the relationship between law and development.' Mariana Pargendler, Professor of Law at Fundacao Getulio Vargas Law School in Sao Paulo 'Groswald Ozery's focus on political power dynamics in China's legal system offers fresh insights into how law has simultaneously enhanced the state's capacity as a market regulator and, crucially, elevated the Party's direct agency in the market. Law and Political Economy in Corporate China is an important contribution to our understanding of China's capital market development.' Curtis J. Milhaupt,, William F. Baxter - Visa International Professor of Law, Stanford Law School