The principal-agent problem, economic growth, subjective wellbeing and social instability: China
In China political control is centralised and economic management is decentralised. This gives rise to a serious principal-agent problem, in which the agents are often better informed than the principal. China also has a semi-marketised economy involving much state intervention. This intervention se...
| Format: | Working paper |
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| Published: |
University of Oxford
2015
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