Download this Paper Open PDF in Browser

Modern Chinese Real Estate Law: Property Development in an Evolving Legal System (Chapter 1)

G. Stein, MODERN CHINESE REAL ESTATE LAW: PROPERTY DEVELOPMENT IN AN EVOLVING LEGAL SYSTEM, Ashgate Publishing, April 2012

University of Tennessee Legal Studies Research Paper No. 185

14 Pages Posted: 19 Apr 2012 Last revised: 31 Aug 2012

Gregory M. Stein

University of Tennessee College of Law

Date Written: February 13, 2012

Abstract

This book offers a detailed account of how the Chinese real estate market actually operates in practice, from both legal and business perspectives. My goals are twofold. First, I seek to establish and describe how the Chinese real estate market, with so few written laws, actually functions. How do real estate professionals operate on such a large scale when they are not sure what the applicable law is or how it will be applied? Second, I aim to address the broader question of how a huge nation can achieve such dramatic levels of economic development so rapidly while its legal system is still so unsettled. In what ways does China force us to reconsider the traditional model of economic growth and expansion, which assumes that legal and institutional development is a prerequisite to economic growth?

Part I of the book, which includes this chapter and Chapter 2, offers introductory material and some background information, along with my preliminary observations and conclusions. Part II, encompassing Chapters 3 through 10, discusses specific sub-topics within Chinese real estate law and practice and examines each of these sub-topics in detail. These chapters are designed to provide a thorough analysis of how Chinese experts have been managing to function so successfully in a nation with a rapidly changing legal system. Part III, which consists of Chapters 11 and 12, shifts the focus considerably, by discussing conventional law and development theory and its application within China. The traditional theory holds that a firmly established legal structure is an essential precondition to significant economic development. These chapters ask how the theory can be reconciled with China’s experience during the past quarter-century. Finally, Part IV offers some conclusions.

Keywords: China, real estate, Chinese real estate, law and development theory, development economics

JEL Classification: K00, K10, K11, K33, O00, O10, O17, O19, O20, O53

Suggested Citation

Stein, Gregory M., Modern Chinese Real Estate Law: Property Development in an Evolving Legal System (Chapter 1) (February 13, 2012). G. Stein, MODERN CHINESE REAL ESTATE LAW: PROPERTY DEVELOPMENT IN AN EVOLVING LEGAL SYSTEM, Ashgate Publishing, April 2012; University of Tennessee Legal Studies Research Paper No. 185. Available at SSRN: https://ssrn.com/abstract=2042708

Gregory M. Stein (Contact Author)

University of Tennessee College of Law ( email )

1505 West Cumberland Avenue
Knoxville, TN 37996
United States
865-974-6812 (Phone)

HOME PAGE: http://law.utk.edu/people/gregory-stein/

Paper statistics

Downloads
422
Rank
56,643
Abstract Views
2,304