The majority of enterprises in China are controlled by local governments at the provincial, city, county, township and … village levels. We study the effect of regional decentralization on soft budget constraints in these enterprises. We show that …. Decentralization of monetary authority leads to a softening of local governments' budget constraints, however, as well as those of …

resist reforms, policies, rules and laws. China’s reform trajectories have been shaped by regional decentralization …China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look … ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper …

through facilitating greater firm decentralization. We collect original data on the decentralization of investment, hiring … stronger rule of law specialize in industries that rely on decentralization and allow more efficient firms to grow in scale …. Furthermore, even for firms of a given size and industry, trust and rule of law are associated with more decentralization which …

This Paper constructs and analyses a long run time series for regional inequality in China from the Communist … integration in the late 1990s. Regional inequality in China in 1999 exceeds the level experienced at its peak in the Cultural … in growth and poverty reduction. As China enters the WTO, pro-active measures encouraging liberalisation and investment …

centralization and decentralization are suboptimal as long as political bargaining does not take place. With bargaining, however, the … first best can often be achieved under decentralization, but not under centralization. At the root of this result is the …

This paper integrates the distributive politics literature with the literature on decentralization by incorporating …. The efficiency of decentralization and the performance of 'constitutional rules' (such as majority voting) which may be … used to choose between decentralization and centralization are then discussed in this framework. Stronger externalities and …