期刊
AMERICAN ECONOMIC REVIEW
卷 107, 期 8, 页码 2455-2478出版社
AMER ECONOMIC ASSOC
DOI: 10.1257/aer.20150592
关键词
-
类别
资金
- National Natural Science Foundation of China [71203004]
- Tsinghua University [20131089272]
Hayek (1945) argues that local information is key to understanding the efficiency of alternative economic systems and whether production should be centralized or decentralized. The Chinese experience of decentralizing SOEs confirms this insight: when the distance to the government is farther, the SOE is more likely to be decentralized, and this distance-decentralization link is more pronounced with higher communication costs and greater firm-performance heterogeneity. However, when the Chinese central government oversees SOEs in strategic industries, the distance-decentralization link is muted. We also consider alternative agency-cost-based explanations, and do not find much support. (JEL D22, D83, L25, L32, L33, O14, P31)
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据