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Property rights and contractual approach to sustainable development

Author

Listed:
  • Ben T. Yu

    (California State University)

  • Daigee Shaw

    (Academia Sinica
    National Taipei University)

  • Tsu-Tan Fu

    (Academia Sinica)

  • Lawrence W. C. Lai

    (University of Hong Kong)

Abstract

Sustainable development is argued to exist in weak and strong versions. Although the use of a property rights and contractual approach has been well understood in the case of weak sustainable development, the approach has been virtually ignored in the strong version. This paper formulates a property rights and contractual approach for the strong version of sustainable development. By reference to an analytical model and examples from Hong Kong and Taiwan, a Schumpeterian process and the institution of resource entitlements are shown to be the necessary ingredients to promote the strong version of sustainable development.

Suggested Citation

  • Ben T. Yu & Daigee Shaw & Tsu-Tan Fu & Lawrence W. C. Lai, 2000. "Property rights and contractual approach to sustainable development," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 3(3), pages 291-309, September.
    • Handle: RePEc:spr:envpol:v:3:y:2000:i:3:d:10.1007_bf03354042
    DOI: 10.1007/BF03354042
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    References listed on IDEAS

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    2. Chau, K.W. & Davies, Stephen N.G. & Lai, Lawrence W.C. & Lennon, H.T. Choy, 2023. "Museums for ex situ tangible heritage conservation: A neo-institutional analytical and empirical economic analysis," Land Use Policy, Elsevier, vol. 127(C).

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