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Article: A "Hong Kong" model of sustainable development

TitleA "Hong Kong" model of sustainable development
Authors
KeywordsHong kong
Sustainable development
Issue Date2006
PublisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/info/journals/pm/pm.jsp
Citation
Property Management, 2006, v. 24 n. 3, p. 251-271 How to Cite?
AbstractPurpose - The purpose of this paper is to discuss a Coasian interpretation of a model of sustainable development for Hong Kong that incorporates three segments, namely economy, society, and environment. Design/methodology/approach - The approach is analytical, using concepts of property rights informed by Coasian neo-institutional economics and Yu's ideas on the Schumpeterian process in innovation. Findings - First, the sustainable development criteria must be non-dictatorial, decentralized, and compatible with market economics. The emphasis is contractarian rather than legislative or administrative. Second, the essence of segment cooperation is to create a win-win situation rather than an "integrated" rent seeking game, which will likely result in more values being created. Third, the requirement that it be progressive over time implies that programs and policies that are duplicative need to be avoided, and innovations are to be encouraged. Fourth, the requirement of satisfying only two aspects of the three segments of cooperation implies a less stringent standard of making stepwise improvements, and thus makes entrepreneurial efforts more likely. Last, the three segments of cooperation, if practiced simultaneously and improved over time, can achieve most, if not all, the principles in the Rio Declaration without aiming at a specific principle in the Declaration. Research limitations/implications - This paper should focus on a "win-win" rather than a mutually exploitative approach to public participation in sustainable development promotion. Practical implications - This paper should assist policymakers and politicians in understanding how sustainable development may be conceptually modelled. Originality/value - The paper is the first paper that defines for Hong Kong a model of sustainable development on the basis of Coasian economics, and contrasts it with other proposed models. © Emerald Group Publishing Limited.
Persistent Identifierhttp://hdl.handle.net/10722/81898
ISSN
2015 SCImago Journal Rankings: 0.331
References

 

DC FieldValueLanguage
dc.contributor.authorLai, LWCen_HK
dc.contributor.authorChau, KWen_HK
dc.contributor.authorHo, DCWen_HK
dc.contributor.authorLorne, FTen_HK
dc.date.accessioned2010-09-06T08:23:12Z-
dc.date.available2010-09-06T08:23:12Z-
dc.date.issued2006en_HK
dc.identifier.citationProperty Management, 2006, v. 24 n. 3, p. 251-271en_HK
dc.identifier.issn0263-7472en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81898-
dc.description.abstractPurpose - The purpose of this paper is to discuss a Coasian interpretation of a model of sustainable development for Hong Kong that incorporates three segments, namely economy, society, and environment. Design/methodology/approach - The approach is analytical, using concepts of property rights informed by Coasian neo-institutional economics and Yu's ideas on the Schumpeterian process in innovation. Findings - First, the sustainable development criteria must be non-dictatorial, decentralized, and compatible with market economics. The emphasis is contractarian rather than legislative or administrative. Second, the essence of segment cooperation is to create a win-win situation rather than an "integrated" rent seeking game, which will likely result in more values being created. Third, the requirement that it be progressive over time implies that programs and policies that are duplicative need to be avoided, and innovations are to be encouraged. Fourth, the requirement of satisfying only two aspects of the three segments of cooperation implies a less stringent standard of making stepwise improvements, and thus makes entrepreneurial efforts more likely. Last, the three segments of cooperation, if practiced simultaneously and improved over time, can achieve most, if not all, the principles in the Rio Declaration without aiming at a specific principle in the Declaration. Research limitations/implications - This paper should focus on a "win-win" rather than a mutually exploitative approach to public participation in sustainable development promotion. Practical implications - This paper should assist policymakers and politicians in understanding how sustainable development may be conceptually modelled. Originality/value - The paper is the first paper that defines for Hong Kong a model of sustainable development on the basis of Coasian economics, and contrasts it with other proposed models. © Emerald Group Publishing Limited.en_HK
dc.languageengen_HK
dc.publisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/info/journals/pm/pm.jspen_HK
dc.relation.ispartofProperty Managementen_HK
dc.subjectHong kongen_HK
dc.subjectSustainable developmenten_HK
dc.titleA "Hong Kong" model of sustainable developmenten_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0263-7472&volume=24&issue=4&spage=16&epage=18&date=2006&atitle=A+Hong+Kong”+Model+of+Sustainable+Developmenten_HK
dc.identifier.emailLai, LWC: wclai@hku.hken_HK
dc.identifier.emailChau, KW: hrrbckw@hkucc.hku.hken_HK
dc.identifier.emailHo, DCW: danielho@hku.hken_HK
dc.identifier.authorityLai, LWC=rp01004en_HK
dc.identifier.authorityChau, KW=rp00993en_HK
dc.identifier.authorityHo, DCW=rp01001en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1108/02637470610660147en_HK
dc.identifier.scopuseid_2-s2.0-33745611459en_HK
dc.identifier.hkuros123153en_HK
dc.identifier.hkuros123489-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33745611459&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume24en_HK
dc.identifier.issue3en_HK
dc.identifier.spage251en_HK
dc.identifier.epage271en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridLai, LWC=7202616218en_HK
dc.identifier.scopusauthoridChau, KW=24830082500en_HK
dc.identifier.scopusauthoridHo, DCW=12805583800en_HK
dc.identifier.scopusauthoridLorne, FT=12767981600en_HK
dc.identifier.citeulike762619-

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