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Demonstrates how China has emerged as one of the world's largest privatizing countries within a decade. With original case studies, including one on China's first industrial shareholding enterprise, this book is of interest to the academic community, China observers and policymakers as well as financial analysts.

Since the mid-1980s, political scientists, in particular historical institutionalists, have employed evolutionary theory to study institutional stasis and change. More recently, there have been calls for 'taking evolution seriously'. This article will frame the earlier uses of evolutionary theory by historical institutionalists, and the recent calls for 'taking evolution seriously' into a hierarchy of levels of interaction between natural and social sciences. Put in this perspective, the earlier efforts can be seen as limiting the use of evolutionary theory at the lowest, metaphorical level. On the other hand, the recent calls are striving to advance political science's interaction with biological science to analogous and homologous levels, and even make it part of the larger project of generalizing Darwinism. These are noble scientific explorations. However, they should not lead to an impression that using evolutionary theory metaphorically is necessarily unserious.

ABSTRACTIn response to the call for more investigation on 'institutional dynamism', this article examines the role of power and accidents in causing institutional changes, employing the theoretical perspective of historical institutionalism. The impact of two 'accidents' (epidemics) on the institutional setting of a hospital in Hong Kong under different power contexts (changes of political sovereignty) is analysed as a case study. The finding is that power matters more than accidents. This is not to deny the importance of accidents. Accidents matter because they produce windows of opportunity for institutional changes to take place. Through political manoeuvres powerful actors may decide which accidents should cause change.

AbstractHong Kong's hospital system has long been the territory of Western medicine. However, during the Severe Acute Respiratory Syndrome (SARS) outbreak in 2003, an integrative approach, combining Chinese and Western medicines, was used in some hospitals in Hong Kong, suggesting a revival of Chinese medicine in the hospital system of this former British colony. This paper will explain how this could happen, by situating the event in the over 160 years' long history of Chinese medicine in Hong Kong. Specifically, it will focus on the role of 'Chinese medicine' and 'traditional Chinese medicine' in Tung Wah Hospital, a local charity established in 1870, which grew subsequently into one of the largest voluntary organizations in Hong Kong. It will also show how the fall and revival of Chinese medicine in this hospital were related to two epidemics: the bubonic plague in 1894, and the SARS outbreak in 2003.

AbstractBuilt heritage conservation is not easily achievable through the market, as it involves use of urban space and thus opportunity cost. The problem is more serious if there is no government support. This is the case in Hong Kong, where both the market and the state are not favorable to built heritage conservation. However, in 2005, through a local voluntary organization, a built heritage of Hong Kong—the Tung Wah Coffin Home—was conserved, and the project won one local and one regional conservation award. While conservation of built heritage by the voluntary sector has been common among developed countries, it is new in Hong Kong. This article first situates the issue in a general political-economy perspective and then analyzes the case of the Tung Wah Coffin Home, in particular, in the context of Hong Kong. The purpose is to examine what this case tells us about the role of the voluntary sector and its relationship with the government in providing built heritage conservation.

Over the past decade, historical institutionalism has emerged as one of the major research pillars of contemporary political science. However, most historical institutionalists seem to be unaware of the paradigmatic implications of this approach for political studies. The theoretical underpinnings of historical institutionalism, namely, the ideas of path dependence and the economics of increasing returns, are based on a new science called complexity science. The worldview of complexity science is largely inconsistent with the scientific foundation of current mainstream political science, namely, Newtonianism. The emergence of historical institutionalist analyses in political studies thus means serious paradigmatic challenges for the discipline.

Discusses the consequences for Hong Kong of the People's Republic of China's practice since the 1980s of listing enterprises on the Hong Kong Stock Exchange, some of which exhibited distorted corporate financial conditions. It had been argued that H-share enterprises, overlooked by the central government, were better regulated than red chips, which were often established through local initiative. Recently, it has been shown that H-share enterprises are sometimes poorly regulated also. This study reviews earlier case studies & presents a new case study of the Northeast Electrical Co, which survived a near bankruptcy through a government bailout. In China, an H-share enterprise owned by a local government is controlled very similarly to a red chip. China's listing of enterprises, many of which have not performed better under privatization & internationalization than when they were state-run, has challenged the free-market principle & the financial autonomy of Hong Kong. 3 Tables. L. A. Hoffman