Download Article

Total Page:16

File Type:pdf, Size:1020Kb

Download Article Advances in Social Science, Education and Humanities Research, volume 290 2nd International Conference on Economic Development and Education Management (ICEDEM 2018) Legal Defects and Perfection of Collective Forest Land Property Right System Peifeng Huang 1, 2 1* 1College of Economics, Fujian Agriculture and Forestry Heliang Huang University 1College of Economics, Fujian Agriculture and Forestry Fuzhou 350002 University 2 College of Management, Fujian University of Technology Fuzhou 350002 Fuzhou 350118 Abstract—Since the promulgation and implementation of the property right structure and basic function of collective Forest Law, China has formulated and implemented a series of forest land, discusses the defects in the current legal norms for forestry laws and regulations to protect the development of collective forest land property right, and puts forward some collective forest land resources, and has been committed to countermeasures and suggestions to perfect the collective forest strengthening the security of collective forest land property rights land property right legal system, in order to provide policy by formal legal means. However, the subject of collective forest reference for further deepening the collective forest right land ownership is not clear, the right to use is not complete, the system reform. right to benefit is difficult to achieve and the right to dispose is limited. Therefore, we should further clarify the subject of collective forest land ownership, improve the rights to use II. PROPERTY RIGHTS AND INTERESTS collective forest land, establish a reasonable forest land value- Any property right contains the subject’s powers and added income distribution mechanism and guide the orderly interests. Power refers to the power or function of the subject circulation of forest rights so as to improve the collective forest of property right over the property, while interest refers to the property rights. effect or benefit obtained by the subject of property right through the exercise of the power of property right. Power and Keywords—Collective forest land; Property right system; Legal defects; Perfection of law interest are interdependent and indispensable, and there is an inherent unity between them. As far as the subject of property right is concerned, firstly interest is the purpose of the I. INTRODUCTION implementation of power, and the purpose of obtaining the From the point of view of economics, property right is right is to obtain the interest. Secondly, the right of property is essentially a bundle of rights composed of ownership, use right, the prerequisite and basis of the existence of interests, and the income right and disposition right. Economic property right is right can be beneficial. Thirdly, the interests are the result of the reflection of the objective existence of property relations, the exercise of power. The right can be beneficial. Finally, and must be timely recognized and protected by the form of conversely, interest is the condition that makes a power legal rights and the law. Since the founding of the People's become the content of property right, and interests is the right- Republic of China, China has promulgated a series of forestry- based. Otherwise, the power cannot constitute property rights related laws, regulations and policies, such as The Forest Law, and has no practical significance (Shao'an HUANG, 1995). and the definition of collective forest land property rights has Theoretically speaking, four property rights including been gradually rationalized and standardized. However, due to ownership, possession, domination and use right should have the relative backwardness of forestry legislation in China, the their own powers and interests. Every subject of property right relevant laws and regulations for collective forest land property needs to objectify his will on the object of property right, and rights are not so in-depth and detailed. Years of policy changes transform this will into a specific behavior, and obtain have led to the widespread problems of collective forest land corresponding interests through this volition zed behavior. property rights in China such as unclear boundaries, unclear Property right structure refers to the arrangement of the powers, unfair distribution of interests, so that it is unable to constituent elements of property right and its internal rights meet the principle of legal integrity and clarity of property among different subjects under the specific institutional rights. In addition, with the changes of the times and the background. The structure of property right is closely related to development of the society, in the implementation process of the function of property right, and the structure influences the collective forest land laws and regulations, some defects are function. The divisibility of property right bundle expands the gradually exposed, leading to the lack of legal basis in the choice of property right space and property right arrangement practice of forest reform, difficult to adapt to the current social (Biliang LUO, 2005), and the aggregation of this behavior and development. Therefore, starting from the basic rights and choice can reduce uncertainty, stimulate constraint, optimize interests of property rights, This paper theoretically analyzes Copyright © 2018, the Authors. Published by Atlantis Press. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/). 358 Advances in Social Science, Education and Humanities Research, volume 290 the allocation of resources and use other functions to reduce costs, improve efficiency and increase investment or output (Zhigang CHEN, 2005). Any bundle of rights in a particular B. Incomplete Rights toUse Collective Forest Land group of property has an internal rights structure, usually with The implementation of the household contract two meanings: The first is what rights it consists of and how responsibility system creates a precedent for granting farmers they relate to each other; the other is the separation and certain limited rights, and establishes their rights of possession, combination of different rights (Shaoan HUANG, 1995). The utilization, income and limited disposition within the contract "four rights", namely, ownership, possession, domination and period (Zhongxing GUO et al., 2012). Therefore, collective use right, are only partitions in the general sense, and the forest land use right can also be called collective forestland powers and interests for any one of rights can be partitioned contractual management right. The Land Management Law of with more detail according to the needs. In reality, the splitting 1986 points out that collective or individual may engage in degree of property rights and the number of rights shall change agricultural, forestry, animal husbandry, fishing and other with the development of social division of labor. The more production activities on the contracted land according to the developed the social division of labor, the more detailed the provisions of the contracted management contract, and at the splitting of property rights, the more the number of rights, and same time, it is clear that the contracted management right of the more complex the structure of property rights. land is protected by law, and the contracted management right is elevated to legal empowerment. The General Rules of Civil III. ANALYSIS OF LEGAL DEFECT OF COLLECTIVE FOREST Law further clarify the specific content of the right of LAND PROPERTY RIGHT SYSTEM contractual management of land in civil law, but in judicial practice, the power of the contractual management right is not A. The subject of collective forest land ownership is not complete, and it is not clearly defined as a real right, and it is clearly defined more like a kind of creditor's right. The promulgation of The law on forestry property rights has not yet formed a Property Law defines the contractual management right of unified legal system, and the relevant legal provisions are also forest resources as usufructuary right, so that farmers can not lack of in-depth and detailed elaboration. The subject of only own, use and dispose of the contracted management right collective forestland ownership is regulated by the current law, according to their own wishes during the contract period, but but there are some differences in the expression of different also avoid too much restriction and arbitrary withdrawal by the legal provisions. Constitution and Forest Law simply define the contractor, enhance the defensibility of the contractor when subject of ownership as collective ownership, without further their rights are infringed upon, and provide stronger protection stipulating the specific owners of collective forest land, and no for the legal rights of forest farmers. However, in reality, the more detailed and clear norms can be found in Forest Law collective forestland contractual management right is not stable, Implementation Regulations. Article 74 of the General Rules of and the phenomenon of administratively unified land transfer Civil Law regulates that: "The property organized by the often appears. The property right nature is limited in China’s collective of the working people belongs to the collective of the land system, which is a kind of incomplete property right. working masses. Article 2 of the Land Administration Act also states: The People's Republic of China resorts to a socialist C. Collective forest land income distribution system is not
Recommended publications
  • On Collective Ownership of the Earth Anna Stilz
    BOOK SYMPOSIUM: ON GLOBAL JUSTICE On Collective Ownership of the Earth Anna Stilz n appealing and original aspect of Mathias Risse’s book On Global Justice is his argument for humanity’s collective ownership of the A earth. This argument focuses attention on states’ claims to govern ter- ritory, to control the resources of that territory, and to exclude outsiders. While these boundary claims are distinct from private ownership claims, they too are claims to control scarce goods. As such, they demand evaluation in terms of dis- tributive justice. Risse’s collective ownership approach encourages us to see the in- ternational system in terms of property relations, and to evaluate these relations according to a principle of distributive justice that could be justified to all humans as the earth’s collective owners. This is an exciting idea. Yet, as I argue below, more work needs to be done to develop plausible distribution principles on the basis of this approach. Humanity’s collective ownership of the earth is a complex notion. This is because the idea performs at least three different functions in Risse’s argument: first, as an abstract ideal of moral justification; second, as an original natural right; and third, as a continuing legitimacy constraint on property conventions. At the first level, collective ownership holds that all humans have symmetrical moral status when it comes to justifying principles for the distribution of earth’s original spaces and resources (that is, excluding what has been man-made). The basic thought is that whatever claims to control the earth are made, they must be compatible with the equal moral status of all human beings, since none of us created these resources, and no one specially deserves them.
    [Show full text]
  • The Costs and Benefits of Government Control: Evidence from China's Collectively-Owned Enterprises Jiangyong Lu /Peking Unive
    The Costs and Benefits of Government Control: Evidence from China’s Collectively-Owned Enterprises Jiangyong Lu /Peking Universitya Zhigang Tao/University of Hong Kongb Zhi Yang/Hua Zhong University of Science & Technologyc May 2009 Abstract: China’s collectively-owned enterprises are unconventional, as they are nominally owned by those people residing in the areas where the enterprises are located but effectively controlled by the local governments. This study finds that collectively-owned enterprises, once being privatized, encounter an increase in the cost of goods sold to sales ratio but manage to lower down the managerial expenses to sales ratio. The findings imply that local government officials may help collectively-owned enterprises gain access to cheaper production inputs, but they may use those enterprises to pursue private benefits, thereby shedding lights on the costs and benefits of government control. JEL classification codes: L33, P31, D23 Keywords: China’s collectively-owned enterprises, costs and benefits of government control, managerial expenses, and cost of goods sold a Department of Strategic Management, Guanghua School of Management, Peking University, Beijing, P.R.China. Email: [email protected] b School of Business, and School of Economics and Finance, University of Hong Kong, Pokfulam Road, Hong Kong. Email: [email protected] c School of Management, Huazhong University of Science & Technology, Wuhan, P.R. China. Email: [email protected] The Costs and Benefits of Government Control: Evidence from China’s Collectively-Owned Enterprises May 2009 Abstract: China’s collectively-owned enterprises are unconventional, as they are nominally owned by those people residing in the areas where the enterprises are located but effectively controlled by the local governments.
    [Show full text]
  • "A Critique of the “Common Ownership of the Earth” Thesis "
    Article "A Critique of the “Common Ownership of the Earth” Thesis " Arash Abizadeh Les ateliers de l’éthique / The Ethics Forum, vol. 8, n° 2, 2013, p. 33-40. Pour citer cet article, utiliser l'information suivante : URI: http://id.erudit.org/iderudit/1021336ar DOI: 10.7202/1021336ar Note : les règles d'écriture des références bibliographiques peuvent varier selon les différents domaines du savoir. Ce document est protégé par la loi sur le droit d'auteur. L'utilisation des services d'Érudit (y compris la reproduction) est assujettie à sa politique d'utilisation que vous pouvez consulter à l'URI http://www.erudit.org/apropos/utilisation.html Érudit est un consortium interuniversitaire sans but lucratif composé de l'Université de Montréal, l'Université Laval et l'Université du Québec à Montréal. Il a pour mission la promotion et la valorisation de la recherche. Érudit offre des services d'édition numérique de documents scientifiques depuis 1998. Pour communiquer avec les responsables d'Érudit : [email protected] Document téléchargé le 30 juin 2014 03:21 A CRITIQUE OF THE “COMMON OWNERSHIP OF THE EARTH” THESIS 1 ARASH ABIZADEH MCGILL UNIVERSITY 2 0 1 3 ABSTRACT In On Global Justice, Mathias Risse claims that the earth’s original resources are collecti- vely owned by all human beings in common, such that each individual has a moral right to use the original resources necessary for satisfying her basic needs. He also rejects the rival views that original resources are by nature owned by no one, owned by each human in equal shares, or owned and co-managed jointly by all humans.
    [Show full text]
  • Ideologies of Autonomy
    Wikipedia @ 20 Ideologies of Autonomy Christopher M. Cox Published on: Jun 11, 2019 Updated on: Jun 21, 2019 Wikipedia @ 20 Ideologies of Autonomy Introduction When I first began routinely using Wikipedia in the early 2000s, my interest owed as much to the model for online curation the site helped to popularize as it did Wikipedia itself. As a model for leveraging the potential of collective online intelligence, emerging modes of online productivity enabled everyday people to help build Wikipedia and, just as importantly for me, proliferated the use of “Wikis” to centralize and curate content ranging from organizational workflows to repositories for the intricacies of pop culture franchises. As a somewhat obsessive devotee of the television series Lost (2004-2011), I was especially enthusiastic about the latter, since the Lostpedia wiki was an essential part of my engagement with the series’ themes, mysteries, and motifs. On an almost daily basis during the show’s run, I found myself plunging ever deeper into Lostpedia, gleaming reminders of previous plot points and character interactions and using this knowledge to piece together ideas about the series’ sprawling mythology. Steadily, as Wikipedia also became a persistent fixture in my online media diet, I found myself using the site in a similar manner, often going down “Wikipedia holes” wherein I bounced from page to page, topic to topic, probing for knowledge of topics both familiar and obscure. This newfound ability to find, consume, and interact with a universe of ideas previously diffuse among various types of sources and institutions made me feel empowered to more readily self- direct my intellectual interests.
    [Show full text]
  • To What Extent Is Squatting an Alternative to Capitalism? Squatting in Europe Beyond the Housing Question
    To What Extent is Squatting an Alternative to Capitalism? Squatting in Europe Beyond the Housing Question Miguel Martínez, Claudio Cattaneo Abstract Is squatting a feasible alternative to the housing problems within the capitalist system? Is squatting only a marginal activity undertaken by people in need who are motivated against the rule of capitalism? Is squatting no more than a temporary reaction, to the unsolved “housing question” in the current crisis due to the malfunctioning of the capitalist mechanisms? In spite of several decades of social and political squatting, most of these questions remain very controversial nowadays. In this article we argue that there are evidences in both the practice and the discourse of political squatters, that various forms of alternatives, interferences and challenges to the capitalist system are actually developed. In addition, squatting not only satisfies housing needs, but also other social needs within a context of political experiments of self-management and autonomous mobilisation against many facets of capitalism and urban speculation. However, we also raise the question of the limits and contradictions of such an alternative. These can occur when the squatting experiences are isolated, when they carry on internal reproduction of capitalist relationships or when the capitalist and urban growth machine is not really affected by occasional cases of squatting. This ambivalence may explain the usually opposed approaches that squatting receives in the political arena. Therefore, it is not just a matter of turning every form of squatting into a political anti-capitalist collective what can contribute to enhance its anti-capitalist struggle, but the depth of the contentious interactions with the capitalist processes, and contradictions as well, in which the squatters movements engage.
    [Show full text]
  • Self-Ownership, Social Justice and World-Ownership Fabien Tarrit
    Self-Ownership, Social Justice and World-Ownership Fabien Tarrit To cite this version: Fabien Tarrit. Self-Ownership, Social Justice and World-Ownership. Buletinul Stiintific Academia de Studii Economice di Bucuresti, Editura A.S.E, 2008, 9 (1), pp.347-355. hal-02021060 HAL Id: hal-02021060 https://hal.archives-ouvertes.fr/hal-02021060 Submitted on 15 Feb 2019 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Self-Ownership, Social Justice and World-Ownership TARRIT Fabien Lecturer in Economics OMI-LAME Université de Reims Champagne-Ardenne France Abstract: This article intends to demonstrate that the concept of self-ownership does not necessarily imply a justification of inequalities of condition and a vindication of capitalism, which is traditionally the case. We present the reasons of such an association, and then we specify that the concept of self-ownership as a tool in political philosophy can be used for condemning the capitalist exploitation. Keywords: Self-ownership, libertarianism, capitalism, exploitation JEL : A13, B49, B51 2 The issue of individual freedom as a stake went through the philosophical debate since the Greek antiquity. We deal with that issue through the concept of self-ownership.
    [Show full text]
  • Self-Ownership and Property in the Person: Democratization and a Tale of Two Concepts*
    The Journal of Political Philosophy: Volume 10, Number 1, 2002, pp. 20±53 Self-Ownership and Property in the Person: Democratization and a Tale of Two Concepts* CAROLE PATEMAN Political Science, University of California at Los Angeles Democracy is at war with the renting of human beings, not with private property. David Ellerman URING the 1990s a number of political philosophers turned their attention Dto the concept of self-ownership. Much of the discussion is critical of libertarianism,1 a political theory that goes hand-in-hand with neo-liberal economic doctrines and global policies of structural adjustment and privatization. Attracta Ingram's A Political Theory of Rights and G. A. Cohen's Self-Ownership, Freedom, and Equality are devoted to such criticism Uand I shall focus much of my argument on their books2). The consensus among most participants in the debate is that self-ownership is merely a way of talking about autonomy, but Ingram and Cohen go against the tide by arguing that the idea is inimical to autonomy and that an alternative is needed. In The Sexual Contract I am also critical of libertarianism, and my conclusion is similar to Ingram's and Cohen's. I argue that the idea of property in the person must be relinquished if a more free and democratic social and political order is to be created. However, despite some common concerns, there are very few points at which my work and that of Cohen and Ingram, or of most contributors to the current debates about self-ownership, come together. In large part this is because property in the person, not self-ownership, is central to my analysis.
    [Show full text]
  • Archer Collective Realism(Edit).Pdf
    Collective realism: exploring the development and outcomes of urban housing collectives ARCHER, Tom <http://orcid.org/0000-0002-9857-359X> Available from the Sheffield Hallam University Research Archive (SHURA) at: http://shura.shu.ac.uk/16557/ A Sheffield Hallam University thesis This thesis is protected by copyright which belongs to the author. The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the author. When referring to this work, full bibliographic details including the author, title, awarding institution and date of the thesis must be given. Please visit http://shura.shu.ac.uk/16557/ and http://shura.shu.ac.uk/information.html for further details about copyright and re-use permissions. Collective realism: Exploring the development and outcomes of urban housing collectives Thomas Luke Archer A thesis submitted in partial fulfilment of the requirements of Sheffield Hallam University for the degree of Doctor of Philosophy October 2016 Abstract The undersupply of housing in England has created a pervasive sense of crisis about the delivery of sufficient new dwellings. Alternative forms of housing provision therefore merit further exploration, particularly those that can deliver low cost, stable accommodation in good condition. Potential remedies may be found in various models for collective ownership of housing. Housing collectives are organisations controlled by their members and residents, operating in a defined geography, which collectively own and manage land and housing for the benefit of a designated group. But why have such organisations consistently been a marginal form of provision? And do the patterns of benefits and costs they create make their future expansion desirable? Significant gaps in knowledge emerge in attempting to answer such questions.
    [Show full text]
  • Incorporating the Digital Commons:Corporate Involvement in Free and Open Source Software
    INCORPORATING THE DIGITAL COMMONS DIGITAL THE INCORPORATING INCORPORATING THE CDSMS DIGITAL COMMONS he concept of ‘the commons’ has been used as a framework to understand resources shared by a community rather than a private BENJAMIN J. BIRKINBINE T entity, and it has also inspired social movements working against the enclosure of public goods and resources. One such resource is free (libre) and open source software (FLOSS). FLOSS emerged as an alternative to proprietary software in the 1980s. However, both the products and production processes of FLOSS have become incorporated into capitalist INCORPORATING THE production. For example, Red Hat, Inc. is a large publicly traded company whose business model relies entirely on free software, and IBM, Intel, Cisco, Samsung, Google are some of the largest contributors to Linux, the DIGITAL COMMONS open-source operating system. This book explores the ways in which FLOSS has been incorporated into digital capitalism. Just as the commons have been used as a motivational frame for radical social movements, it has also Corporate Involvement in Free served the interests of free-marketeers, corporate libertarians, and states to expand their reach by dragging the shared resources of social life onto and Open Source Software digital platforms so they can be integrated into the global capitalist system. The book concludes by asserting the need for a critical political economic understanding of the commons that foregrounds (digital) labour, class struggle, and uneven power distribution within the digital commons as well as between FLOSS communities and their corporate sponsors. BENJAMIN J. BIRKINBINE J. BENJAMIN COMMUNICATION STUDIES | POLITICAL ECONOMY | MEDIA INDUSTRIES CDSMS CRITICAL DIGITAL AND SOCIAL MEDIA STUDIES THE AUTHOR Benjamin J.
    [Show full text]
  • Self-Ownership and the Limits of Libertarianism
    Self-Ownership and the Limits of Libertarianism 1. Introduction In the longstanding debate between liberals and libertarians' over the morality of redistributive labor taxation, liberals such as John Rawls and Ronald Dworkin have consistently taken the position that such taxation is perfectly compatible with individual liberty,^ whereas libertarians such as Robert Nozick and Murray Rothbard have adopted the (very) contrary position that such taxation is tantamount to slavery.^ I will demonstrate over the course of this paper that their debate over redistributive labor taxation can be usefijlly reconstituted as a debate over the incidents (or components) of self-ownership, with liberals making the case for a nar- 'i use the term liberal as a shorthand for liberal egalitarian throughout the paper. I defme libertarians as a type of classical liberal, distinguished from other classical liberals by their extreme positions on personal liberty issues and by their style of political theoriz- ing, which is characterized by the rigorous deduction of political positions from first princi- ples such as self-ownership. Libertarians may be further subdivided into right-libertarians (such as the Robert Nozick of Anarchy. State, and Utopia and Murray Rothbard), who op- pose any form of redistribution, and left-libertarians (such as Hillel Steiner, Michael Otsuka, and Peter Vallentyne), who support the redistribution of natural resources but gen- erally oppose redistributive labor taxation. For more information on left-libertarianism, see Peter Vallentyne and Hillel Steiner (eds.). The Origins of Left Libertarianism: An Anthology of Historical Writings (New York: Palgrave Publishers, 2000) and Left Libertarianism and Its Critics: The Contemporary Debate (New York: Palgrave Publishers, 2000).
    [Show full text]
  • To Download the PDF File
    A Deep Dive hosted by Commons Strategies Group in cooperation with the Heinrich Böll Foundation and David Graeber September 5-8, 2016 CONTENTS Introduction 03 0I. THE VALUE QUESTION 05 A. Why “Value” Lies at the Heart of Politics 06 B. Should We Even Use the Word “Value”? 11 02. TOWARDS A RELATIONAL THEORY OF VALUE 15 KEY CHALLENGES IN DEVELOPING A NEW THEORY 21 03. OF VALUE A. Can Abstract Metrics Help Build a New Value Regime? 22 B. How Shall We Value “Nature”? 26 C. Should We De-Monetize Everyday Life? 30 COMMONS-BASED PEER PRODUCTION: A 34 04. FUNDAMENTAL SHIFT IN UNDERSTANDING VALUE? A. Practical Strategies for Building New Systems of Value 38 B. The Dangers of Co-optation and Wishful Thinking 43 C. But Peer Production Still Relies Upon (Unpaid) Care 46 Work and Nature! 05. NOTES TOWARD A COMMONS THEORY OF VALUE 48 Conclusion 51 Appendix A: Participants 52 Appendix B: A Commons Theory of Value 53 Appendix C: Readings for Value Deep Dive 59 2 Re-imagining Value Insights from the Care Economy, Commons, Cyberspace and Nature A Deep Dive hosted by Commons Strategies Group in cooperation with David Graeber and Heinrich Böll Foundation September 5-8, 2016 A key reason for the cultural power of the modern liberal states of the Global North and their market and scientifc order, is their asserted notion of “value.” Value is regarded as a morally neutral attribute that arises from the natural workings of free and independent individual agents. Market champions celebrate “exchange value” that supposedly stems from rational and efcient consumer/seller transactions.
    [Show full text]
  • Collective Ownership in Sweden – the State, Privatization and Entrepreneurship
    8. Collective Ownership in Sweden – The State, Privatization and Entrepreneurship KARL GRATZER, MIKAEL LÖNNBORG & MIKAEL OLSSON Privatisation has been a topical issue in many countries from the late 20th century onwards. Also in Sweden this discourse turned into policy in the very late 20th and early 21st century. A question seldom asked though is why did state ownership of firms emerge in Sweden to begin with? Also, a relative latecomer to the era of privatisations - what external influences may have had an impact on Swedish privatisation policy - and how did this policy evolve in practice? These are questions that are approached in this chapter that aims to give an overview of discourse and policy with regard to industrial ownership in Sweden from the 19th century onwards. It can be noted that research on state-ownership of firms has been an important subject for a long period of time in an international perspective and that the interest in this in Sweden has been clearly emphasized since the non- socialist government (the so-called centre-right alliance) took office in 2006 (and was voted out in 2014). The government of 2006 questioned the extent of the state control of firms and began a process aiming at considerably reducing state ownership (Jordahl, 2008). Initially, the ambitions caused limited debate and plans to privatixe seemed to be on track with only some to-be-expected criticism from the social democratic opposition. Serious setbacks nevertheless evolved when irregularities within the private financial company Carnegie chosen to aid in the privatisation process, were publicized. These scandals coincided with onset of the 2008-09 global financial crisis and corresponding steep declines on the Stockholm Stock Exchange.
    [Show full text]