An Inquiry into Some Attributes of the Property Rights of Public Sector

Starting from the founding of public finance in China, this article tries to make an inquiry into the property rights of public sector. The article consists of three parts. The flint part extracts the property rights of public sector from the whole system by resolving the system of property rights, and explains that these rights are just as a sub-stratum of the common property rights. The second part analyzes some of the main characteristics of the property rights of the public sector, and makes some explanations about the meaning of these characteristics. The third part analyzes the transaction costs under the condition of the property rights of public sector, and points out that, compared with the private property rights, the trans- action costs should be higher, hut it is possible to make the transaction costs lower in some degree.