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- W2378625527 abstract "The South Korean experience is used to argue that the distribu- tion of the knowledge about valuable businesses varies with the stage of economic development. This has implications for the design of financial system. In the early development stage when low labor cost is the main competitive advantage, it is easy for everyone to see what businesses will create value. A centralized financial system is not likely to significantly misallocate resources. In the more advanced development stage when the labor cost advantage disappears and the knowledge about the technologically advanced products becomes widely dispersed, a financial system that promotes security trading is more likely to guide efficient resource al- location. These lessons have implications for financial reforms in China and other developing countries." @default.
- W2378625527 created "2016-06-24" @default.
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- W2378625527 date "2001-01-01" @default.
- W2378625527 modified "2023-09-23" @default.
- W2378625527 title "The Informational Requirement on Financial Systems and Government Intervention in Banking at Different Stages of Economic Development: Lessons from South Korea" @default.
- W2378625527 hasPublicationYear "2001" @default.
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