Studies in entrepreneurship, business and government in Hong Kong: the economic development of a small open economy
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Lewiston, NY [u.a.]
Mellen
2006
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| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VII, 268 S. |
| ISBN: | 9780773456068 0773456066 |
Internformat
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| 245 | 1 | 0 | |a Studies in entrepreneurship, business and government in Hong Kong |b the economic development of a small open economy |c Fu-Lai Tony Yu |
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Datensatz im Suchindex
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| adam_text | TABLE OF CONTENTS
List of Tables j
Foreword (Professor Siu-lun Wong) jii
Acknowledgements v
Introdnction 1
PARTI THE THEORETICAL FOUNDATION
1 Economic Development of a Small Open Economy:
Entreprenenrship, Small Bnsiness and Government
in the coordinating perspective 11
1.1 Hong Kong s Growth Performance 11
1.2 Weaknesses in the Mainstream Neoclassical Theories
of Economic Development 13
1.3 The New Institutional Theory of Economic Development 13
1.4 Economics as a Coordination Problem 16
1.5 Adaptive Entrepreneurship, Learning and Coordination
in Latecomer Econom ies 17
1.6 The Family Firm as a Coordinating Organisation 1 g
1.7 The Government as a National Coordinator 19
1.7.1 Uncertainty, coordination and industrial policy 21
1.7.2 Focal point and preplay communication 23
Notes 24
PART It THE ENTREPRENEURIAL SPIRIT
2 Entreprenenrship and Wealth Creation 29
2.1 Introduction 29
2.2 A Review of Explanations on Hong Kong s Economic Success 29
2.3 Studies on Hong Kong s Entrepreneurship 30
2.4 Wealth Creation and Entrepreneurial Discovery 32
2.5 Entrepreneurship in Hong Kong: Opportunity Discovery
and Exploitation 34
2.5.1 The early years: compradores and entrepot trade 34
2.5.2 The golden age of manufacturing: 1960s-1970s 35
2.5.3 The modem middleman in the 1980s and 1990s:
Sophisticated regional coordinators 40
2.5.4 Towards a new economy: From manufacturing
to information technology 42
2.6 Conclusion: Entrepreneurial Discoveries as an Engine of Growth 45
Notes 46
3 Extraordinary and Ordinary Discoveries:
Chinese versus American Entrepreneurship 49
3.1 Introduction 49
3.2 Alternative Interpretation as Entrepreneurial Discovery 50
3.3 Factors Influencing Entrepreneurial Discovery 52
3.3.1 Freedom and individual value 52
3.3.2 Economic systems 53
3.3.3 Psychological characteristics 54
3.3.4 Migration and multicultural environments 54
3.3.5 Social mobility 55
3.4 Two Types of Discoveries: Ordinary and Extraordinary 56
3.5 Entrepreneurial Economies: The United States and Hong Kong 57
3.6 The Two Economies Compared: American verus
Chinese Entrepreneurship 58
3.6.1 The United States as the world economic leader:
American entrepreneurship and extraordinary discovery 59
3.6.2 Hong Kong s guerrilla capitalism: Chinese entrepreneurship
and ordinary discovery 61
3.7 Investigating the Differences 62
3.7.1 The case of the United States 62
(i) Individualism and self-reliance 63
(ii) Family teaching 64
(iii) Achievement and success 65
(iv) Economic ideology and government policy 65
(v) Population mobility and the frontier mentality 67
3.7.2 The case of Hong Kong 68
(i) The location: The mart of East Asia 68
(ii) The economic structure: A small open economy 69
(iii) The political factor: The refugee mentality 70
(iv) A pro-business government: Positive non-interventionism 70
(v) Entrepreneurial familism 71
(vi) The little tradition and profit-seeking mentality 72
(vii) The social structure: A small melting pot and marginal
population 73
3.8 Implications on World Development 73
Notes 75
4 Learning, Catching op and the New International Economic Order:
The Case of China, Britain and Hong Kong (with Diana S. Kwan) 77
4.1 Introduction 77
4.2 Toward an Entrepreneurial Model of International Development 80
4.2.1 Schumpeterian and adaptive entrepreneurship 80
4.2.2 Entrepreneurship and two types of economic responses 82
4.3 The Dynamic International Development Process 83
4.3.1 Technological breakthrough in the early industrialized economies 83
4.3.2 Catching up in latecomer economies 84
4.4 Relationship between Britain, China and Hong Kong in Historical
Perspective 85
4.4.1 Britain as the world economic leader 85
4.4.2 The Sino-British conflict 87
4.4.3 China s response: Learning and imitation in the
Self-Strengthening Movement 90
(i) Government enterprises: Learning and transfer of
technology in defense and major manufacturing industries 91
(ii) Government-merchant joint ventures 92
(iii) Private enterprises 93
4.4.4 Britain and Hong Kong: Colonization and catching up 94
4.4.5 The China and Hong Kong interaction 97
4.5 Concluding Remarks: Innovation as the Determinant of
Future World Economic Leader 98
Notes 99
PART ID THE BUSINESS SYSTEM
5 Chinese Family Businesses and Hong Kong s Economic Dynamics 103
5.1 Introduction 103
5.2 The Chinese Family Business in Hong Kong as a Response
to the External Environment 104
5.3 Distinctive Features of a Typical Chinese Family Firm in Hong Kong 105
5.4 The Competitive Advantages of a Small Hong Kong Family Firm 108
5.4.1 Internal capabilities: Organisational structure,
flexibility and transaction costs 108
5.4.2 External capabilities: Subcontracting networks,
flexibility and transaction costs 111
(i) Flexible subcontracting networks 111
(ii) Non-innovative activities, subcontracting and transaction
costs 12
5.5 Hong Kong Family Firms in Global Competition 113
5.5.1 As strategic imitators and followers 114
5.5.2 As regional coordinators 116
(i) International subcontracting 116
(ii) Regional arbitrageurship 116
5.6 Concluding Remarks 117
Notes 119
6 The Innovation Systems of Hong Kong:
Capabilities Building and Technological Trajectories 121
6.1 Introduction 121
6.2 Entrepreneurial Learning, Imitation and Capabilities Building 122
6.3 Capabilities Development Paths 124
6.3.1 Reverse value chain strategy: From OEM to OBM 125
6.3.2 Reverse product life cycle strategy:
late-follower to fest-follower 125
6.3.3 Process capability specialist strategy 126
6.4 National Innovation System of Hong Kong: Imitation, Unsophisticated
Technology and Strategic Followership 127
6.5 Factors that Shaped the Innovation System of Hong Kong 129
6.5.1 Political factors 129
6.5.2 Initial industrial structure 130
6.5.3 The structure of competition 131
6.5.4 Cultural factors 131
6.6 Technological Trajectories of Hong Kong s Manufacturing Firms 132
6.6.1 From OEM to OBM: The reverse value chain strategy 132
6.6.2 Late-follower to fast-follower : Reverse product life cycle
imitation strategy 134
6.6.3 The no-brand-one-niche-product strategy:
Process capability specialist strategy 135
6.7 Extending Existing Capabilities: Hong Kong Firms as Regional
Coordinators 137
6.8 Policy Implications 138
Notes 140
7 flagship Approach versus Guerrilla Strategy:
South Korea s Chaebols and Hong Kong s Small Enterprises 143
7.1 South Korea and Hong Kong as Latecomer Economies 143
7.2 Organisation of Industry in South Korea and Hong Kong 144
7.2.1 Business environments 144
7.2.2 Structure of industry 144
7.3 Korean Chaebols, Family Business Empire, and the Flagship
Approach 145
7.4 Coordination and Learning in Chaebols 146
7.4.1 Vertical integration and coordination 147
(i) Focal point and preplay communications to tackle
uncertainty 147
(ii) Reducing dynamic transaction costs 149
7.4.2 Horizontal diversification: learning, capabilities
and exploitation of scale economies 150
7.5 Small Business and Guerrilla Industrialism in Hong Kong 154
7.5.1 Organisational structure and flexibility 155
7.5.2 Subcontracting and transaction costs 156
7.5.3 Family trust, non-innovative activities and transaction costs 157
7.5 Conclusion 159
Notes 160
PART IV THE GOVERNMENT
8 A Pro-Business Government and the Coordination of
Economic Affairs 163
8.1 Hong Kong s Economic Success Revisited 163
8.2 The Role of the Government in Economic Development 165
8.3 The Birth of a Pro-business Government 166
8.3.1 Jardines as a de facto governor 167
8.3.2 The rising influence of Chinese entrepreneurs in
Hong Kong s politics 170
8.3.3 A pro-business Legislative Council after the Second World War 171
8.4 The Management Strategies of a Pro-Business Government 173
8.4.1 The economic management framework and a tiny public sector 174
(i) The management framework 174
(ii) Small public sector and low tax rates 175
8.4.2 Provision of a stable exchange environment: Infrastructure
and social needs 177
(i) Infrastructure 177
(ii) Social provisions 177
8.4.3 Coordinating function: Industrial policies and financial
markets regulations 178
(i) Industrial policies 178
(ii) Regulations in financial markets 180
8.5 Conclusion 182
Notes 183
9 Public Utilities Provisions in Hong Kong: Monopoly Creation
and Government Regulations 185
9.1 Introduction 185
9.2 Problems with Neoclassical Theories of Natural Monopoly 185
9.3 Competition and Regulation: A Social Perspective 186
9.4 The Origin of Monopoly: A Market Process Perspective 188
9.5 Excessive Competition, Uncertainty and Granting of Exclusive Rights 190
9.6 Hong Kong as a Facilitative State 191
9.7 Pro-business Policies of the Hong Kong Government 192
9.8 The Gas Supply in Hong Kong 193
9.9 Conclusion 194
Notes 195
10 Social Safety Net: Hong Kong s Public Housing Programme
and Income Redistribution (with Diana S. Kwan) 197
10.1 Introduction 197
102 Horizontal and Vertical Equity 200
10.3 Allocation of Public Housing Flats 201
10.4 Housing Benefits and the Overall Distribution of Income 206
10.5 Conclusion 211
Notes 212
11 The Role of Government in the Economic Development of Asian Newly
Industrialized Economies: Hong Kong versus Taiwan, Singapore and
South Korea 219
11.1 Introduction 219
11.2 Market Failures and Government Intervention 221
11.3 The Learning Government: Error Elimination, Revision of Plans
and Policy Change 223
11.4 Government Intervention: Directive and Facilitative 224
11.5 Directive Intervention: South Korea, Taiwan and Singapore 224
11.5.1 Creating competitive advantage and making winners 226
11.5.2 Export performance as criteria 228
11.5.3 Learning, error elimination and flexible government 229
11.6 Facilitative intervention: Hong Kong 230
11.7 Conclusion 233
Notes 234
References 237
Index 259
i
TABLES
Table 10.1 Allocation of domestic flats 1991/92-2003/04 214
Table 10.2 Income limits for admission to public housing (HK$/month) 215
Table 10.3 Distribution of public housing benefit among land
households by income class (decile groups), 1991 216
Table 10.4 Distribution of public housing benefit among
land households by income class (decile groups), 1996 216
Table 10.5 Distribution of public housing benefit among
land households by income class (decile groups), 2001 217
Table 10.6 Gini coefficient with and without the housing benefit 217
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| spelling | Yu, Tony Fu-Lai 1950- Verfasser (DE-588)124373429 aut Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy Fu-Lai Tony Yu Lewiston, NY [u.a.] Mellen 2006 VII, 268 S. txt rdacontent n rdamedia nc rdacarrier HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020082671&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Yu, Tony Fu-Lai 1950- Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy |
| title | Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy |
| title_auth | Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy |
| title_exact_search | Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy |
| title_full | Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy Fu-Lai Tony Yu |
| title_fullStr | Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy Fu-Lai Tony Yu |
| title_full_unstemmed | Studies in entrepreneurship, business and government in Hong Kong the economic development of a small open economy Fu-Lai Tony Yu |
| title_short | Studies in entrepreneurship, business and government in Hong Kong |
| title_sort | studies in entrepreneurship business and government in hong kong the economic development of a small open economy |
| title_sub | the economic development of a small open economy |
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