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...

This paper proposes a demand-side theory on the appropriate financial structure for an economy. As argued in the new structural economics, the factor endowment structure in an economy determines its optimal industrial structure. Firms operating in different industries and applying different...

With panel data for 28 Chinese provinces (autonomous regions, municipalities) during 1985–2002, this paper assesses the effect of banking structure on economic growth. Banking structure is defined as the relative importance of banks of different size in the banking sector. The market share of...

China’s energy needs and its environment are facing great challenges because of the country’s rapid urbanization and industrialization. It is China’s strategic choice to exploit renewable energy to guarantee its energy security and reduce CO2 emissions. Crop residue has been identified and...

Abstract This paper explores the ideas of development and the role of the state in economic development and institutional change from the New Structural Economics perspective. We argue that economic structures – including the structure of technology and industry, and hard and soft...

This volume presents papers from a global gathering of the world’s leading development scholars and practitioners held May 31 - June 2, 2010. Paper themes include: Environmental Commons and the Green Economy, Post-crisis Development Strategy, the Political Economy of Fragile States, Measuring...

The new structural economics argues that the best way to upgrade a country's endowment structure is to develop its industries at any specific time according to the comparative advantages determined by its given endowment structure at that time. The economy will be most competitive, the economic...

The Annual World Bank Conference on Development Economics (ABCDE) is a forum for discussion and debate of important policy issues facing developing countries. The conferences emphasize the contribution that empirical economic research can make to understanding development processes and to...

The crisis has surged across the public-private boundary, as the hit to private firms’ balance sheets has now imposed heavy new demands on the public sector’s finances. It has surged across national borders within the developed world, as the people of Iceland know all too well. And nowthere...