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    • Publisher:
      Cambridge University Press
      Publication date:
      15 February 2024
      29 February 2024
      ISBN:
      9781009501705
      9781009501712
      9781009501736
      Creative Commons:
      Creative Common License - CC Creative Common License - BY Creative Common License - NC Creative Common License - SA
      This content is Open Access and distributed under the terms of the Creative Commons Attribution licence CC-BY-NC-SA 3.0 IGO.
      https://creativecommons.org/creativelicenses
      Dimensions:
      (229 x 152 mm)
      Weight & Pages:
      0.25kg, 72 Pages
      Dimensions:
      (229 x 152 mm)
      Weight & Pages:
      0.14kg, 72 Pages
    • Series:
      Elements in Development Economics
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    Series:
    Elements in Development Economics

    Book description

    This Element proposes an alternative framework for rethinking the role of finance in serving the real economy from the perspective of New Structural Financial Economics. It challenges the conventional wisdom that developing countries should take the financial structure of developed countries as the benchmark and financial structure does not matter in spurring long-run economic development. As a sub-discipline of New Structural Economics, New Structural Financial Economics has three tenets. First, examining the appropriate financial structure should take an economy's factor endowment structure as the starting point of analysis, which identifies its latent comparative advantage. Second, the appropriate financial structure is determined by the financing needs of the prevailing production structure. Third, a government should provide development financing to address market failures, and make tailored financial regulations in line with the characteristics of specific financial arrangements. This title is also available as Open Access on Cambridge Core.

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