This paper investigates the features of the leasehold system of Hong Kong, which is predicated on the freedom of contract, as an institutional arrangement for urban planning that promotes sustainable development. It further develops the theory of íplanning by contractî as an alternative to...

This is a contribution to the research on the interface between urban economics and urban planning at the micro level on the one hand and economic development at the macro level on the other hand by a study of the relationship between the performance of the development application mechanism and...