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 State-owned Enterprises (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...
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2017/08/01
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Artigo de revista
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122574
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1
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1
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2018/01/11
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Disclosed
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Hayek, local information, and commanding heights : decentralizing state-owned enterprises in China
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per capita income level
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