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Land Readjustment: An Innovative Urban Experiment in China

机译：土地调整：中国的创新城市实验

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摘要

Conventionally, urban renewal initiated by the private sector is not that different from other trading activities. A developer purchases property rights from the suppliers, who are the property owners of the renewal site, in the open market for a price. Once the deal is done, the suppliers are out of the picture and the developer moves on to the renewal project and starts replacing the existing structure with new buildings for a better use. The developer would prefer not to have the individual owners involved in the renewal process for various reasons such as management problems and profit sharing. From an institutional economic perspective, this is a classic example of market governance structure as the asset is non-specific to a certain extent and the developer is not integrating the supplier (property owners) into the firm. However, on some rare occasions, the developer may adopt a bilateral firm governance structure by incorporating the individual property owners. This, in the context of rural land renewal, has been known as the land readjustment model. Based on the theoretical framework of institutional economics and transaction cost theory, this paper explores the rationale behind the developer and even the public authority choosing to adopt this model in the process of urban renewal by examining two examples in two very different cities in China.
机译：按照惯例，由私营部门发起的城市更新与其他贸易活动没有什么不同。开发商在公开市场上从供应商那里购买产权，而供应商是更新站点的财产所有者。交易完成后，供应商将无法使用，开发商继续进行更新项目，并开始用新建筑物替换现有结构，以更好地使用。由于各种原因，例如管理问题和利润分享，开发商不希望让个人所有者参与续签过程。从制度经济学的角度来看，这是市场治理结构的经典示例，因为资产在一定程度上是非特定的，并且开发商没有将供应商（所有者）整合到公司中。但是，在极少数情况下，开发商可以通过合并个体财产所有人来采用双边公司治理结构。在农村土地更新的背景下，这被称为土地调整模型。本文基于制度经济学和交易成本理论的理论框架，通过考察中国两个截然不同的城市中的两个例子，探索了选择开发商甚至公共当局在城市更新过程中采用这种模式的背后原因。

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  • 来源
    《Urban Studies》 |2007年第1期|p.81-98|共18页
  • 作者

    Ling-Hin Li; Xin Li;

  • 作者单位

    Department of Real Estate and Construction, University of Hong Kong, 5/F Knowles Building, Pokfulam Road, Hong Kong;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 区域规划、城乡规划;
  • 关键词

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