transformed from inside through a massive mandatory retirement program and a drive for administrative/fiscal decentralization. It …

hypotheses about three basic social norms of governance: the rule of law, corruption, and accountability. These norms correlate …

- federalism, Chinese style. We suggest a range of incentives that propel local governments toward SOE reform, including their … harder budget constraints and increased competition from the non-state sector. In this sense, federalism, Chinese style, has …

Decentralization can complement market liberalization by strengthening incentives of agents to exploit local … the mid-1990s. We offer a new theory of financial decentralization in which centralization provides a credible commitment … empirically assess the determinants of decentralization and the likelihood of collateral seizure, strongly confirming the …

Although the theoretical literature often uses lobbying and corruption synonymously, the empirical literature … associates lobbying with the preferred mean for exerting influence in developed countries and corruption with the preferred one … suggest that (a) lobbying and corruption are fundamentally different, (b) political institutions play a major role in …