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Legal and Institutional Barriers to Optimal Financial Architecture for New Economy Firms in Developing Countries

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  • Danny Cassimon
  • Peter-Jan Engelen

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.

Suggested Citation

  • Danny Cassimon & Peter-Jan Engelen, 2002. "Legal and Institutional Barriers to Optimal Financial Architecture for New Economy Firms in Developing Countries," WIDER Working Paper Series DP2002-90, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:dp2002-90
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2002-90.pdf
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    References listed on IDEAS

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    Cited by:

    1. Peter-Jan Engelen, 2003. "Law and Finance - State of the Art," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 9.

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