Developmental Dilemmas singles out land as an object of study and places it in the context of one of the world's largest and most populous countries undergoing institutional reform: the People's Republic of China. The book demonstrates that private property protected by law, the principle of 'getting-the-prices-right', and the emergence of effectively functioning markets are the outcome of a given society's historical development and institutional fabric. Peter Ho argues that the successful creation of new institutions hinges in part on choice and timing in relation to the particular...