Property rights and contractual approach to sustainable development

Ben Yu, Daigee Shaw (), Tsu-Tan Fu and Lawrence Lai

Environmental Economics and Policy Studies, 2000, vol. 3, issue 3, 309 pages

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. Copyright Springer Japan 2000

Keywords: Sustainable development; Property rights and contractual approach; Schumpeterian process; Resource entitlements; Coase theorem (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1007/BF03354042

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