Toward A Theory of Optimal Financial Structure / Lin, Justin Yifu
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Publisher: Washington, D.C : The World Bank, 2009Description: Online-Ressource (32 p)Additional physical formats: Lin, Justin Yifu: Toward A Theory of Optimal Financial Structure DOI: DOI: 10.1596/1813-9450-5038Online resources: Summary: Each institutional arrangement in a financial system has both advantages and disadvantages in mobilizing savings, allocating capital, diversifying risks, and processing information when facilitating financial transactions. Meanwhile, the factor endowment in an economy at each stage of its development determines the optimal industrial structure in the real sector, which in turn constitutes the main determinant of the size distribution and risk features of viable enterprises with implications for the appropriate institutional arrangement of financial services at that stage. Therefore, there is an endogenously determined optimal financial structure for the economy at each stage of developmentPPN: PPN: 83496418XPackage identifier: Produktsigel: ZDB-1-WBA | ZDB-110-WBLNo physical items for this record
2009. (World Bank eLibrary) |2009||||||||||