Finance and governance in developing economies
By: Randall Morck
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16870; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16870.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Classic Big Push industrialization envisions state planners coordinating economic activity to internalize a range of externalities that otherwise lock in a low-income equilibrium, but runs afoul of well-known government failure problems.  Successful Big Push coordination may occur instead when a large business group, acting in its controlling shareholder's self-interest, coordinates the establishment and expansion of businesses in diverse sectors.  Where business groups play this role, many basic axioms of Anglo-American corporate governance, including the advocacy of shareholder value maximization and contestable corporate control, must be qualified"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 6/2/2011.

Includes bibliographical references.

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Mode of access: World Wide Web.