(centralization) or two (decentralization) regulatory authorities, when the regulator(s) can be partially captured by industry. Under …

example of a "delegation-scheme." Conversely, project aid represents a more "centralized" type of aid. According to the theory …

explaining variation in the degree of decentralization across countries. Within a two-sided incomplete information principal …-agent framework, it analyzes two alternative policy-decision schemes - "decentralization" and "centralization" - when "knowledge … government levels. It is shown that, depending on which level of policy decision-making controls the degree of decentralization …