Property Rights, Land Values and Urban Development

Property Rights, Land Values and Urban Development

Betterment and Compensation in China

Li Tian

This book presents an analysis of betterment and compensation issues under the Land Use Rights (LURs) System in China since 1988. The topic originates from the observation of widening inequity and increasing uncertainty associated with the failure of government to adequately address betterment and compensation issues. An analytical framework of institutions and property rights is employed to examine socio-economic impacts under the LURs system, in particular, the role of the state is analyzed to explore the effects of government intervention in land markets.

Chapter 6: Betterment and compensation schemes under the LURs system

Li Tian

Subjects: asian studies, asian economics, asian urban and regional studies, development studies, asian development, economics and finance, asian economics, institutional economics, urban economics, urban and regional studies, urban economics, urban studies

Extract

The major policy objectives of the Chinese government in establishing the land use rights (LURs) system can be summarized as to: (1) raise public funds to promote the construction of infrastructure and public facilities; (2) establish a land market to accommodate the economic reform; and (3) manage urban development. In this chapter, different schemes that are employed by the Chinese government to raise public funds, recover betterment and compensate the requisitioned land user are presented, their strength and weakness are analysed, and their impacts on the urban land market are illustrated. After this exposition, the chapter discusses the role of government in the land market, and the obstacles to addressing betterment and compensation, in order to respond to research questions put forward in Chapter 1.

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