Economics and Regulation in China

This book, from a top international group of scholars, explores the ways in which economic tools can be used to improve the quality of regulation in general and legislative tools in particular. As the role of law becomes increasingly important in China, the question arises of how effective regulatory and legislative tools can be developed to accompany the Chinese evolution towards a welfare state. China therefore provides a unique case study for scholars and policymakers interested in examining how regulation can play a role in promoting sustainable development. Economics and Regulation in China goes beyond traditional economic analysis of law by focusing specifically on the question of how economic tools can guide the quality of legislation. To this end, the book centres in on three areas: regulation as a tool of economic growth, competition policy and environmental policy. Not only are these three domains of great importance for China, but they are also relevant for a broad scholarship interested in the economic analysis of law. This volume contributes to discussions on how ex-ante evaluation of legislative proposals and ex-post analysis can increase the effectiveness and efficiency of regulation, using economic tools, offering insights that go beyond the particular case of China. The analysis offered by this book makes it an invaluable resource for academics and policymakers alike.

1. Introduction Michael Faure and Guangdong Xu Part I: Regulation as a Tool of Economic Growth 2. Financial Repression, Economic Distortion and China’s Growth Miracle Guangdong Xu 3. Affordable Housing in China: Can inclusionary zoning regulation work? Wenjing Li and Binwei Gui 4. Legal Regulation of China's Securities Markets: Recent improvements and competing advantages Tianshu Zhou Part II: Economic Analysis of Competition Policy 5. An Empirical Approach of Regulation on China’s Pension Investment Jiye Hu 6. New Developments in China’s Competition Policy against Monopolistic/Collusive Agreements Xinzhu Zhang and Vanessa Yanhua Zhang 7. Enforcing Antitrust Law in China: Is decentralization desirable? Roger Van den Bergh and Jingyuan Ma 8. Using Economics to Improve Professional Regulation Niels J. Philipsen 9. A Legal-Economic Analysis of the WTO’s Agreement on Safeguards: China’s policy choice on the trade safeguard mechanism Jie Hong Part III: Environmental Policy 10. Analysis of Policy Considerations for Developing Countries’ Accession to GPA Xiaoping Zhang 11. Hybrid Emissions Trading Systems: What about efficiency? Stefan E. Weishaar and Fitsum G. Tiche 12. Designing and Implementing an Emissions Trading Market in China: The case of Tianjin Hao Zhang 13. Environmental Liability in China: Recent developments and case studies in an ex-post analysis Michael Faure and Weiqiang Hu 14. Economic Analysis of Chinese Regime on Marine Environmental Liability Hui Wang 15. Comparative and Concluding Remarks Michael Faure and Guangdong Xu

Michael Faure is Professor of Comparative and International Environmental Law at Maastricht University, the Netherlands. He is also Professor of Comparative Private Law and Economics at the Erasmus School of Law, the Netherlands. Guangdong Xu is Associate Professor of Law and Economics at the China University of Political Science and Law, China.