Decentralization can complement market liberalization by strengthening incentives of agents to exploit local … information in response to market signals. In China, however, banks centralized lending authority following financial reforms in … the mid-1990s. We offer a new theory of financial decentralization in which centralization provides a credible commitment …

are explained in terms of the noninternalization, under decentralization, of the ‘bribe externality’ and the ‘price … externality.’ In welfare terms, decentralization is favoured, relatively speaking, if the tax system is less inefficient, funding …

China began its gradual economic reform in the late 1970s; Russia initiated radical reform in the early 1990s. During … the course of reform, China has enjoyed rapid growth while Russia has contracted. This paper argues that an important … explanation for the striking performance difference in China and Russia is that, during the course of reform, Chinese local …

contexts of China and Russia. Using interview data of 159 software entrepreneurs in Beijing and Moscow, the study found that …

a number of Central and Eastern European countries, Russia, and China. We use metadata from 33 studies of 10 transition …

Internet ventures in Beijing, China. The study found the positive and the negative contingent effects of structural holes on …