Zhou Qi Ren role of government in a market economy can not be missing

 Zhou Qi Ren: the role of government in a market economy can not be missing
Source: Sohu Finance
2010   6   28   Nobel economics laureate Oliver. Williamson to China, held in Beijing, Marriott International. elite entrepreneurs, economists were on the scene here, years later, I understand that some of today's greatly increased over that time. I know there is a branch of economics, of which Williamson named new institutional economics, because of academic development, so that we were organized for the real world and a deeper understanding of the system, there are plenty of problems to be solved, I hope to continue to do in this method into work today I want to take you about a topic. on the market in the government, because usually popular method is to the Government Most of the textbook and the market is to talk about some of the market, there are different entities, all blend together, so people often ask more government or more markets, whether to discuss reform of our nation's long-term goal, or like dealing with economic crisis, and more encountered a similar problem. I think the problem may have something to discuss later the contents, first we have to go back to Coase's methodological tradition, Professor Coase referred to in this book a research method, never from the study He is not in favor of economics into an intellectual weapons, Coase and the Coase go follow economists are willing to seize them from political events to discuss the substance of issues worthy of discussion. If we go back to the real world, both East and West, we do not see what a production, or trading activities can leave the government service. has never been before, we did not see any market can be in a state of anarchy can work well to complete the preparation of resources and income distribution. But economic theory, the two subjects, like the work of our university is not training to the enterprise, that is, to the Government, we still can not put them on a different subject to be among the framework of treatment. This may be because in my opinion the real world economic phenomena, we analyze a defect, I want this to be a simple description of the framework.
Zhou Qiren Peking University, National Development Research Institute (Photo: Wang Xi) < br> First, we see that if there is no definition of property rights, is no market activity. cite a simple example, are the same in any country, if you have a property, or you'll buy it back or you want to sell it, you usually need to have a real estate certificate. This certificate is very interesting property, it is not open to your business you can accept, you must have an official government document, you can easy in the transactions. This is why? why a company, including the very famous company that he gives you a certificate, regardless of East and West, we do not accept. we still want a government to its name, it The seal carved in the top, to prepare books with such a property, definition, registration, and then to resell. the problem of economic theory which actually has a very basic sense. Coase inside the paper in 1959, has made a very important proposition, clearly defined property rights is the beginning of all market transactions. If the property is not clear who, how is it to complete the transaction process? how to price it? how will people buy it practical? after the division of labor specialization The activities of the question. But, there is a definition of property rights is very important aspect is that the Government should intervene. a property is not me that is me, because we are all can move, if not an abstract expression of property rights, order and the transaction will encounter great difficulties. a real estate license save a lot of things, many things can be clearly defined. Review of three decades of reform and opening, I mentioned a paper that summarizes the Chinese in this area experience, the Chinese economy has made great achievements, to determine the property rights of ordinary people to provide services to all the mess from the original large public sector, and gradually begin to recognize the rights of farmers to recognize the rights of farmers cultivate the land, recognizing the different kinds of enterprises established entrepreneurs rights, admit that we have a lot out of the market trading platform offers a variety of resources to meet the requirements of social rights. So from this perspective, three decades of reform, is the constant process of redefinition of rights, the definition is sometimes right arise spontaneously, such as rural household responsibility system, which I studied a long time the contents of the peasants and farmers began a secret agreement, but this agreement without the recognition by the Government, continued with the policy documents and legal documents after it recognized and protected, then such activities can not be sustained not common, because people will not be a temporary arrangement, a stable and long-term expectations, if the market definition of property rights basis, then we have seen the market, the government has entered the market bottom. any market, if it is based on clearly defined property rights, then there is no way we see our market structure of government were excluded from the .