Developmental Dilemmas

Focusing on land as a critical element of study, the book explores its significance within the context of China's institutional reforms. It highlights how legal protection of private property, correct pricing mechanisms, and functional markets stem from a society's historical and institutional background. Peter Ho emphasizes that the successful establishment of new institutions depends on the strategic choices and timing aligned with societal, economic, political, and cultural factors. Ignoring these aspects may lead to increased inequality and land-related conflicts.