Centralization is better to a certain extent as it is easier to run something where your voice is heard. As we all know, in business companies, the CEOs were the one who will decide on things. Centralization in business can help it runs smoothly and well. Whatever the CEO has decided on, no one can deny it.
However the case is different when it comes to running a country. Most countries nowadays are going with decentralization. The ministers will conduct a meeting to discuss on things until they made an agreement which is by voting.
It is good for development because centralization towards certain matter such as money supply and international business organization where there is no one to object your opinion will make everything runs smoothly. In addition, too much freedom may cause inconvenience. If people were to object your decision, nothing will be done because they're going to protest. However it can cause corruption to a management or to the government and can lead to a wrong decision making. Also, the people especially those who are independently minded will rebel the government and start to create chaos unless they are entitled to some welfare benefits
Nevertheless, decentralization is good for development, in education wise or financial wise. There will be room for improvement for the future education system. For instance, people will get to choose the best way to conduct a lesson at school or even the examination format. It can help make better decisions and develop solutions for problems. Not to mention that its fair because lower levels in the organizational hierarchy also has the right to make decisions. Meanwhile in politics, the people get to choose the leader of their country which is parliamentary democracy. Malaysia practices this kind of democracy. The people will get to vote for the government they fancy which means decentralization. Ironically, the government set the rules and we need to obey them.
I would say decentralization is better than centralization, but in reality we need a mixture of both in order to have the perfect balance.