New Structural Financial Economics - 9781009501736

New Structural Financial EconomicsA Framework for Rethinking the Role of Finance in Serving the Real Economy\nAuthor(s): Justin Yifu Lin, Jiajun Xu, Zirong Yang, Yilin Zhang\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9781009501736, 978-1009501736\nSynopsis\nThis 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.