Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/52898 
Year of Publication: 
2002
Series/Report no.: 
WIDER Discussion Paper No. 2002/90
Publisher: 
The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki
Abstract: 
This paper reviews the obstacles for an appropriate financial architecture of new economy firms in developing countries by reviewing the theoretical and some preliminary empirical underpinnings of the importance of legal and institutional barriers. Apart from the more conventional institutional and legal barriers, which are advanced by the recent law and finance literature, the analysis in this paper focuses on the importance of the ICT environment, as a potentially important barrier to the development of the business sector in general, and new economy firms in particular. This preliminary analysis confirms the importance of this ICT environment for asset allocation (and the creation of intangibles) for the financial structure and, ultimately, for firm growth.
Subjects: 
developing countries
new economy
ICT
law and finance
legal constraints
JEL: 
G31
G32
K10
O4
ISBN: 
9291903051
Document Type: 
Working Paper

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