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Book Cover
E-book
Author Lin, Justin Yifu, 1952- author.

Title New structural financial economics : a framework for rethinking the role of finance in serving the real economy / Justin Yifu Lin, Jiajun Xu, Zirong Yang, Yilin Zhang
Published Cambridge, United Kingdom ; New York, NY, USA : Cambridge University Press, 2024

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Description 1 online resource
Series Elements in development economics
Cambridge elements. Elements in development economics.
Summary 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.--provided by publisher
Notes "UNU Wider"
Bibliography Includes bibliographical references
Notes Description based on online resource; title from digital title page (viewed on February 27, 2024)
Subject Finance -- Developing countries
Financialization.
Economic development.
Neoclassical school of economics.
economic development.
Form Electronic book
Author Xu, Jiajun, author
Yang, Zirong, author
Zhang, Yilin, author
ISBN 1009501704
9781009501705