The escape velocity is given by the formula:
\[
v_{escape} = \sqrt{\frac{2GM}{R}}
\]
We are given the mass and radius relationships:
\[
\frac{M_{planet}}{M_{earth}} = \frac{1}{8}, \quad \frac{R_{planet}}{R_{earth}} = \frac{1}{2}
\]
Thus, the ratio of escape velocities is:
\[
\frac{v_{escape, planet}}{v_{escape, earth}} = \sqrt{\frac{M_{planet} R_{earth}}{M_{earth} R_{planet}}} = \frac{1}{2}
\]
Therefore, the escape velocity from the planet is:
\[
v_{escape, planet} = \frac{1}{2} \times 11.2 = 5.6 \, {km/s}
\]