Jianjun Li and Sara Hsu (eds)
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780195380644
- eISBN:
- 9780199869329
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195380644.001.0001
- Subject:
- Economics and Finance, International, South and East Asia
Informal finance consists of non-bank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. Informal finance has provided ...
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Informal finance consists of non-bank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. Informal finance has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained, overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system in order to obtain financing for their ventures. Informal finance has played a critical role in China's economic boom of the last thirty years. This book describes the evolution, characteristics, and variation of informal finance in China, from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects. Much of the work stems from detailed surveys conducted locally, since this type of data is not normally collected by the government. Informal finance is a local and personal activity, but it also affects the macroeconomy; particularly in China, where it is pervasive.Less
Informal finance consists of non-bank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. Informal finance has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained, overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system in order to obtain financing for their ventures. Informal finance has played a critical role in China's economic boom of the last thirty years. This book describes the evolution, characteristics, and variation of informal finance in China, from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects. Much of the work stems from detailed surveys conducted locally, since this type of data is not normally collected by the government. Informal finance is a local and personal activity, but it also affects the macroeconomy; particularly in China, where it is pervasive.
N. Scott Arnold
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780195088274
- eISBN:
- 9780199853014
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195088274.001.0001
- Subject:
- Philosophy, Political Philosophy
This book argues that the most defensible version of a market socialist economic system would be unable to realize widely held socialist ideals and values. In particular, it would be responsible for ...
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This book argues that the most defensible version of a market socialist economic system would be unable to realize widely held socialist ideals and values. In particular, it would be responsible for widespread and systematic exploitation. The charge of exploitation, which is really a charge of injustice, has typically been made against capitalist systems by socialists. This book argues that it is market socialism—the only remaining viable form of socialism—that is systematically exploitative. Recent work on the economics of contracts and organizations is used to show that the characteristic organizations of a free enterprise system, the classical capitalist firm and the modern corporation, are structured in such a way that opportunities for exploitation among economic actors (e.g., managers, workers, providers of capital, customers) are minimized. By contrast, this book argues, in a market socialist regime of worker cooperatives, opportunities for exploitation would abound. The book locates its comparative analysis of market socialism and the free enterprise system in the larger context of the capitalism/socialism debate. In the account of this debate, the book offers a distinctive and compelling vision of the relationship between the social sciences and political philosophy.Less
This book argues that the most defensible version of a market socialist economic system would be unable to realize widely held socialist ideals and values. In particular, it would be responsible for widespread and systematic exploitation. The charge of exploitation, which is really a charge of injustice, has typically been made against capitalist systems by socialists. This book argues that it is market socialism—the only remaining viable form of socialism—that is systematically exploitative. Recent work on the economics of contracts and organizations is used to show that the characteristic organizations of a free enterprise system, the classical capitalist firm and the modern corporation, are structured in such a way that opportunities for exploitation among economic actors (e.g., managers, workers, providers of capital, customers) are minimized. By contrast, this book argues, in a market socialist regime of worker cooperatives, opportunities for exploitation would abound. The book locates its comparative analysis of market socialism and the free enterprise system in the larger context of the capitalism/socialism debate. In the account of this debate, the book offers a distinctive and compelling vision of the relationship between the social sciences and political philosophy.
Chris Bramall
- Published in print:
- 2006
- Published Online:
- January 2007
- ISBN:
- 9780199275939
- eISBN:
- 9780191706073
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199275939.003.0004
- Subject:
- Economics and Finance, South and East Asia
The constellation of post-1978 economic policy changes could, in principle, explain the accelerating pace of rural industrial growth, and this explanation features prominently in literature. The ...
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The constellation of post-1978 economic policy changes could, in principle, explain the accelerating pace of rural industrial growth, and this explanation features prominently in literature. The explanation offered by the orthodoxy is that private enterprise, both domestic and foreign, was crucial. In contrast, revisionist scholars emphasize the role played by fiscal decentralization. Neither explanation is compelling; the orthodoxy exaggerates the contribution of the private sector, whereas the revisionist approach understates the extensive decentralization of the Chinese fiscal system, which had already occurred before 1978. Both approaches err in neglecting the contribution made by the development of skills during the Maoist era to subsequent rural industrialization.Less
The constellation of post-1978 economic policy changes could, in principle, explain the accelerating pace of rural industrial growth, and this explanation features prominently in literature. The explanation offered by the orthodoxy is that private enterprise, both domestic and foreign, was crucial. In contrast, revisionist scholars emphasize the role played by fiscal decentralization. Neither explanation is compelling; the orthodoxy exaggerates the contribution of the private sector, whereas the revisionist approach understates the extensive decentralization of the Chinese fiscal system, which had already occurred before 1978. Both approaches err in neglecting the contribution made by the development of skills during the Maoist era to subsequent rural industrialization.
David B. Audretsch and Albert N. Link
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199730377
- eISBN:
- 9780199932795
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199730377.001.0001
- Subject:
- Business and Management, Innovation
The number of new small closely held business start-ups, which may be referred to as entrepreneurial enterprises, is growing and they continue to be the primary source for employment growth in the ...
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The number of new small closely held business start-ups, which may be referred to as entrepreneurial enterprises, is growing and they continue to be the primary source for employment growth in the United States and in most industrialized nations. However, the topic of the valuation of an entrepreneurial enterprise has for the most part been ignored because, in the view of many, traditional valuation methods are not applicable. This is because entrepreneurial enterprises do not have a history of sales and revenues upon which traditional valuation methods are built. Through conceptual discussions and numerical examples a more accurate method for dealing with the valuation issues that are relevant to an entrepreneurial enterprise is suggested.Less
The number of new small closely held business start-ups, which may be referred to as entrepreneurial enterprises, is growing and they continue to be the primary source for employment growth in the United States and in most industrialized nations. However, the topic of the valuation of an entrepreneurial enterprise has for the most part been ignored because, in the view of many, traditional valuation methods are not applicable. This is because entrepreneurial enterprises do not have a history of sales and revenues upon which traditional valuation methods are built. Through conceptual discussions and numerical examples a more accurate method for dealing with the valuation issues that are relevant to an entrepreneurial enterprise is suggested.
Andrew Sanders
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198183549
- eISBN:
- 9780191674068
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198183549.001.0001
- Subject:
- Literature, 19th-century and Victorian Literature
This book considers the extent to which Dickens and his work reflects the vibrant novelty of the middle third of the 19th century, an age in which the modern world was shaped and determined. It looks ...
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This book considers the extent to which Dickens and his work reflects the vibrant novelty of the middle third of the 19th century, an age in which the modern world was shaped and determined. It looks at the culture from which Dickens sprang — a mechanized and increasingly urbanized culture — and it sees his rootlessness and restlessness as symptomatic of what was essentially new: the period's political and technological enterprise; its urbanization; its new definitions of social class and social mobility; and, finally, its dynamic sense of distinction from the preceding age. Although his fiction was rooted in traditions established and evolved in the 18th century, Dickens was uniquely equipped to remould the English novel into a new and flexible fictional form, as a direct response to the social, urban, and political challenges of his time.Less
This book considers the extent to which Dickens and his work reflects the vibrant novelty of the middle third of the 19th century, an age in which the modern world was shaped and determined. It looks at the culture from which Dickens sprang — a mechanized and increasingly urbanized culture — and it sees his rootlessness and restlessness as symptomatic of what was essentially new: the period's political and technological enterprise; its urbanization; its new definitions of social class and social mobility; and, finally, its dynamic sense of distinction from the preceding age. Although his fiction was rooted in traditions established and evolved in the 18th century, Dickens was uniquely equipped to remould the English novel into a new and flexible fictional form, as a direct response to the social, urban, and political challenges of his time.
M. R. Narayana
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199204762
- eISBN:
- 9780191603860
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199204764.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This paper introduces the multiplicity of official concepts, definitions, and measurements of economic contributions and performance of formal and informal enterprises in India’s manufacturing and ...
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This paper introduces the multiplicity of official concepts, definitions, and measurements of economic contributions and performance of formal and informal enterprises in India’s manufacturing and services sectors. Conceptually, formal (or informal) enterprises are distinguished by registered (or unregistered), organized (or unorganized), and regulated (or unregulated) enterprises. Employment size is a major criterion to define these enterprises. In contrast, registered and unregistered small scale enterprises are uniquely defined by size of capital investments. Using the national level databases, the economic performance of formal, informal, and small scale enterprises is separately measured by their contributions to production, employment generation, and use of assets in rural and urban areas. This implies that the standardization of concepts and definitions are a precondition for establishing comparability between the databases, or for the measurement of economic contributions and performance of India’s formal and informal enterprises.Less
This paper introduces the multiplicity of official concepts, definitions, and measurements of economic contributions and performance of formal and informal enterprises in India’s manufacturing and services sectors. Conceptually, formal (or informal) enterprises are distinguished by registered (or unregistered), organized (or unorganized), and regulated (or unregulated) enterprises. Employment size is a major criterion to define these enterprises. In contrast, registered and unregistered small scale enterprises are uniquely defined by size of capital investments. Using the national level databases, the economic performance of formal, informal, and small scale enterprises is separately measured by their contributions to production, employment generation, and use of assets in rural and urban areas. This implies that the standardization of concepts and definitions are a precondition for establishing comparability between the databases, or for the measurement of economic contributions and performance of India’s formal and informal enterprises.
Tetsuji Okazaki
- Published in print:
- 1998
- Published Online:
- January 2007
- ISBN:
- 9780198294917
- eISBN:
- 9780191715501
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198294917.003.0003
- Subject:
- Economics and Finance, South and East Asia
This chapter describes the workings of a government-sponsored Council for Industrial Rationalization for resolving particular investment coordination problems facing Japan in the postwar economic ...
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This chapter describes the workings of a government-sponsored Council for Industrial Rationalization for resolving particular investment coordination problems facing Japan in the postwar economic recovery period. The newly formed market economy was faced with serious coordination failure due to complementarity among industries, economics of scale, and incomplete information. The Ministry of International Trade and Industry intended to coordinate the coordination failure by an industrial rationalization policy.Less
This chapter describes the workings of a government-sponsored Council for Industrial Rationalization for resolving particular investment coordination problems facing Japan in the postwar economic recovery period. The newly formed market economy was faced with serious coordination failure due to complementarity among industries, economics of scale, and incomplete information. The Ministry of International Trade and Industry intended to coordinate the coordination failure by an industrial rationalization policy.
David B. Audretsch and Albert N. Link
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199730377
- eISBN:
- 9780199932795
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199730377.003.0007
- Subject:
- Business and Management, Innovation
This chapter sets the stage for Chapter 8, in which a more complete valuation of an entrepreneurial enterprise is presented. Step-by-step valuation templates are set out as the foundation for a ...
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This chapter sets the stage for Chapter 8, in which a more complete valuation of an entrepreneurial enterprise is presented. Step-by-step valuation templates are set out as the foundation for a generalizable methodology for valuing an entrepreneurial enterprise.Less
This chapter sets the stage for Chapter 8, in which a more complete valuation of an entrepreneurial enterprise is presented. Step-by-step valuation templates are set out as the foundation for a generalizable methodology for valuing an entrepreneurial enterprise.
David B. Audretsch and Albert N. Link
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199730377
- eISBN:
- 9780199932795
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199730377.003.0009
- Subject:
- Business and Management, Innovation
This chapter completes the book with a concluding statement about the need for valuation methods related to an entrepreneurial enterprise.
This chapter completes the book with a concluding statement about the need for valuation methods related to an entrepreneurial enterprise.
John Hatcher
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780198282822
- eISBN:
- 9780191684418
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198282822.001.0001
- Subject:
- History, British and Irish Early Modern History, Economic History
Well before 1700, Britain had become heavily dependent upon coal for its fuel, and coalmining had taken its place among the nation's staple industries. This book traces the production and trade of ...
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Well before 1700, Britain had become heavily dependent upon coal for its fuel, and coalmining had taken its place among the nation's staple industries. This book traces the production and trade of coal from the intermittent small-scale activity which prevailed in the Middle Ages to the rapid expansion and rising importance which characterized the early modern era. Thoroughly grounded in a formidable range of sources, the book explores the economics and management of mining, the productivity and profitability of colliery enterprise, and the progress of technology. The book examines the owners and operators of collieries and the sources of mining capital, as well as the colliers themselves, their working conditions and earnings. It argues that the spectacular growth of coal output in this period was achieved more through evolutionary than revolutionary processes.Less
Well before 1700, Britain had become heavily dependent upon coal for its fuel, and coalmining had taken its place among the nation's staple industries. This book traces the production and trade of coal from the intermittent small-scale activity which prevailed in the Middle Ages to the rapid expansion and rising importance which characterized the early modern era. Thoroughly grounded in a formidable range of sources, the book explores the economics and management of mining, the productivity and profitability of colliery enterprise, and the progress of technology. The book examines the owners and operators of collieries and the sources of mining capital, as well as the colliers themselves, their working conditions and earnings. It argues that the spectacular growth of coal output in this period was achieved more through evolutionary than revolutionary processes.
