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Contractual Change and Self-Reinforcing Governance: Lessons From Post-Socialist Transition for Institutional Reform Policies

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  • Brem, Markus
  • Kim, Kyunryang

Abstract

This paper focuses on firm restructuring in transition countries by suggesting mechanisms of governance change that can lead to self-reinforcing contracts. The urn-function model, by linking history, policy, and the relative governance share in a business sector, seeks to support the explanation of the stability of large-scale agriculture. Applied to agricultural restructuring, network externalizes in governance structures and increasing transnational returns resulting socialist farming may cause the stability of large-scale farm organizations during transition, even though family farming is often expected to be more efficient according to transaction costs arguments. Some empirical evidence comes from the Czech case of post-socialist transition. Finally we try to draw out the lessons for a possible transition on the Korean peninsula.

Suggested Citation

  • Brem, Markus & Kim, Kyunryang, 2003. "Contractual Change and Self-Reinforcing Governance: Lessons From Post-Socialist Transition for Institutional Reform Policies," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 26(3), September.
    • Handle: RePEc:ags:jordng:288203
    DOI: 10.22004/ag.econ.288203
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    Agricultural and Food Policy;

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