Showing 1 - 10 of 37
Standard models of hierarchy assume that agents and middle managers are better informed than principals about how to implement a particular task. We estimate the value of the informational advantage held by supervisors – middle managers – when ministerial leadership – the principal –...
Persistent link: https://www.econbiz.de/10012913385
We examine the welfare effects of provision of local public goods in an empirically relevant setting using a multi-community model with mobile and heterogeneous households, and with flexible housing supplies. We characterize the first-best allocation and show efficiency can be implemented with...
Persistent link: https://www.econbiz.de/10013121991
We study the relationship between decentralization of R&D, innovation and firm performance using a novel dataset on the organizational structure of 1,290 American publicly-listed corporations, 2,615 of their affiliate firms, as well as characteristics of 594,903 patents that they hold. We...
Persistent link: https://www.econbiz.de/10013124858
We study the effect of decentralization on the access to some poverty-related public services in Benin. Compiling panel data from local governments' accounts and from surveys on 18,000 Beninese households performed in 2006 and 2007, our study suggests that decentralization has a positive overall...
Persistent link: https://www.econbiz.de/10013105726
Motivated by a novel stylized fact - countries with isolated capital cities display worse quality of governance - we … ways: broader power sharing (associated with better governance) means that any rents have to be shared more broadly, hence … capital city allows the elite to appropriate a larger share of output, so the costs of better governance for the elite, in …
Persistent link: https://www.econbiz.de/10013082160
Decentralization has been put forward as a powerful tool to reduce poverty and improve governance in Africa. The aim of … among local governments, and more broadly, it questions the effeciency of decentralisation in developing countries in line …
Persistent link: https://www.econbiz.de/10013066000
We present a model where heterogeneous districts choose both whether to experiment and the policies to experiment with. Since districts learn from each other, the first-best requires that policy experiments converge so that innovations are useful also for neighbors. However, the equilibrium...
Persistent link: https://www.econbiz.de/10013073557
Standard models of fiscal federalism suggest many benefits of decentralization in developing economies, and there has been a recent push toward decentralization around the world. However, developing countries presently still have less decentralization, particularly on the revenue side, than both...
Persistent link: https://www.econbiz.de/10013076576
The paper studies asset pricing in informationally decentralized markets. These markets have two key frictions: trading is decentralized (bilateral), and some agents have private information. We analyze how uninformed agents acquire information over time from their bilateral trades. In...
Persistent link: https://www.econbiz.de/10013154567
Developing countries spend vast sums on subsidies. Beneficiaries are typically selected via either a proxy-means test (PMT) or through a decentralized identification process led by local leaders. A decentralized allocation may offer informational or accountability advantages, but may be prone to...
Persistent link: https://www.econbiz.de/10012956926