The Transformation of Urban Vegetable Retail in China: Wet Markets,Supermarkets and Informal Markets in Shanghai

The state-monopolised system of vegetable retail in socialist urban China has been transformed into a market-based system run by profit-driven actors. Publicly-owned wet markets not only declined in number after the state relegated its construction to market forces, but were also thoroughly privatised, becoming venues of capital accumulation for the market operators now controlling these properties. Self-employed migrant families replaced salaried state employees in the labour force. Governments' increased control over urban public space reduced the room for informal markets, exacerbating the scarcity of vegetable retail space. Fragmentation in the production and wholesale systems restricted modern supermarkets' ability to establish streamlined supply chains and made them less competitive than wet markets. The transformation of urban vegetable retail documented here shows both the advance that capital has made in re-shaping China's agrifood system and the constraints that China's socialist institutions impose on it. Shanghai's experience also shows that the relative competitiveness of various retail formats is shaped by the state's intervention in building market infrastructure and institutions.     

Water Management in France: Delegation and Market Based Auto‐regulation

Abstract

In this paper, we show that the principle of equal access in the French legal code and the explicit flexibility of the actual delegation contract concerning prices and responsibility for risk have created the conditions for an effective system of market based, auto‐regulation that maximizes community welfare while maintaining a fair return for the delegated firm. The system is market based because auto‐regulation occurs within price–profit interval over which delegation is acceptable to both parties. For the system to be effective, the threat to revoke must be credible and the conflict of interest between the mayor and the commune must be resolved.     

Small arms,big guns: a dynamic model of illicit market opportunity

Transnational illicit markets are deeply embedded within legal trade systems and thus should be affected by shifting market conditions. Applying a stochastic actor-oriented model (SAOM), this study tests whether variation in illicit market opportunity could account for changing relations within the small arms trade (2003–2008). Measures of market accessibility – changes in export activity, reporting transparency and the percent of the labour force that is armed – outperformed measures of weapon availability with the exception of involvement in armed conflict. Significant structural change in outdegree density and transitivity suggest the development of trade factions, and decreasing balance hints that leaders are emerging. With the pending de-escalation of US-led conflict in the Middle East, a flood of second-hand weaponry is about to enter the market. Continued research is required to further uncover how the legitimate trade infrastructure facilitates the illicit flow of goods.     

Reconceptualizing financial innovation: frame,conjuncture and bricolage

Abstract

This article argues for a reconceptualization of financial innovation which, as culprit and victim of the current crisis, is now damned by those who once praised it. But what is financial innovation? The dominant answers from mainstream finance and social studies of finance share variations on a rationalistic view whereby financial innovation is about improving markets or at least extending the sphere of rational calculability. Because improvisation is more important than the dominant perspectives can admit, this article proposes a new concept of financial innovation whose three main elements – frame, conjuncture and bricolage – are indicated by the title of this article. The importance of this problem shift is that it highlights the inherent fragility of this type of intermediary-led financial innovation where things will often miscarry and highlights the need for a more radical rethinking about policy responses to the financial crisis that began in 2007.     

Unintended consequences: social policy,state institutions and the ‘stalling’ of the Malaysian industrialization project

Abstract

This paper examines the relation of particular forms of social and labour market policy to economic development. Taking the history of Malaysian industrialization as its empirical case, the paper assesses the unintended consequences of redistribution policy, on the one hand, and migration policy, on the other, for the limited upgrading of the country's electronics industry. It argues that, while the former has been central to social harmony in Malaysia's multi-racial society, it has contributed to the underdevelopment of small and medium-sized firms capable of linking with the TNCs on the basis of knowledge-intensive and higher value-added operations. Migration policy, on the other hand, has allowed manufacturers to have continued access to supplies of low-cost, lower-skilled labour that have released the pressures that would otherwise have been there for technological and skill upgrading in the electronics industry. Only in Penang, where regional state institutions have intervened to encourage SME upgrading, has the national picture been moderated. Malaysia's industrialization project emerged at time when export competition in manufactured commodities was less intense than it is now. Largely as a result of federal government priorities and for other reasons explored in the paper, advantage was not taken of this ‘window of opportunity’. As a consequence, the country's industrialization project – exemplified by its electronics industry – is now ‘stalling’ in the sense that it remains locked into low- to medium-technology operations. With the rise of China as a manufacturing exporter, this is a dangerous situation for a country's principal industry to be in.     

Struggling to stay out of high-poverty neighborhoods: housing choice and locations in moving to opportunity's first decade

Improving locational outcomes emerged as a major policy hope for the nation's largest low-income housing program over the past two decades, but a host of supply and demand-side barriers confront rental voucher users, leading to heated debate over the importance of choice versus constraint. In this context, we examine the Moving to Opportunity experiment's first decade, using a mixed-method approach.

MTO families faced major barriers in tightening markets, yet diverse housing trajectories emerged, reflecting variation in: (a) willingness to trade location – in particular, safety and avoidance of “ghetto” behavior – to get larger, better housing units after initial relocation; (b) the distribution of neighborhood types in different metro areas; and (c) circumstances that produced many involuntary moves. Access to social networks or services “left behind” in poorer neighborhoods seldom drove moving decisions. Numerous moves were brokered by rental agents who provided shortcuts to willing landlords but thereby steered participants to particular neighborhoods.     

Making Markets and Eastern Enlargement: Diverging Convergence?

This study deals with the extent and content of 'Europeanisation' in the Central and East European (CEE) countries at the level of market making. It argues that Europeanisation at the level of market making was about creating states with strong capacities to preserve and regulate markets and with increased and reconstructed administrative and planning capabilities. The most successful CEE countries with their strong states and weak social and economic actors converged towards a moving target, that is, towards EU countries in the process of supranational market making with dramatically different constellation of powers among key economic actors. The paper discusses the specifics of national level market making in the CEE countries, the factors of divergence within the region, and the 'diverging convergence' between the CEE and the EU countries.     

Club apples: a biology of markets built on the social life of variety

Abstract

Club apples are patented apple varieties, often grown by members of a co-operative who plan the production and marketing of the apples. Drawing on ethnographic work, this paper will use club apples as a case to demonstrate that varieties have shaped the development of the apple industry in ways that resist institutional pressures to commodify the biological features of the apple. Club apples extend social boundaries around varieties in ways that grant growers more control over the market life of the apple and more economic power. The productive opportunities availed in the aliveness of biological materials can be seen to shape competition and the contours of economic markets.     

Subprime catalyst: Financial regulatory reform and the strengthening of US carbon market governance

The 2008 financial crisis has had an important, but neglected, impact on carbon market governance in the United States. It acted as a catalyst for the emergence of a domestic coalition that drew upon the crisis experience to demand stronger regulation over carbon markets. The influence of this coalition was seen first in the changing content of draft climate change bills between 2008 and 2010. But the coalition's more lasting legacy was its role in shaping the content of, and supporting, the passage of the Wall Street Reform and Consumer Protection Act (the Dodd–Frank bill) in July 2010. Although that bill was aimed primarily at bolstering financial stability, its derivatives provisions strengthened carbon market regulation in significant ways. This policy episode demonstrates new patterns of coalition building in carbon market politics as well as the growing links between climate governance and financial regulatory politics. At the same time, the significance of these developments should not be overstated because of various limitations in the content and implementation of the Dodd–Frank bill, as well as the waning support for carbon markets more generally within the US since the bill's passage.     

对水权与水权交易法律制度构建的思考

我国水资源在时间和空间上分布严重失衡,水污染和破坏事件时有发生,导致我国水资源的开发、利用和保护形势极为严峻。水权交易制度契合市场经济发展的要求,能够有效改善水资源供求关系。我国水权交易实践存在已久,但我国水权交易理论和相关法律制度还不完善。本文详细阐述水权和水权交易的基本理论,分析我国水权交易制度的现状与存在的问题,简述国外水权交易制度及对我国的经验启示,结合我国具体国情,提出完善我国水权交易制度的建议。