Understanding Market Failure in the Developing Country Context

Market failure makes it difficult to achieve the condition of economic efficiency by distorting price mechanisms and normal distribution of goods and services thereby, leading to welfare loss. They are entrenched in the socio-economic fabrics of most developing countries, underpinned by the lack of well-functioning market structures and economic systems – which are supposed to make the market economy resilient to such economic shortcomings.

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Year of publication:	2019
Authors:	Jackson, Emerson Abraham ; Jabbie, Mohamed
Published in:	Decent Work and Economic Growth: Encyclopedia of Sustainable Development Goals. - Cham : Springer Nature Switzerland. - 2019, p. 1-10
Publisher:	Cham : Springer Nature Switzerland
Subject:	Market Failure \| Developing countries

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Type of publication:	Article
Type of publication (narrower categories):	Book Part
Language:	English
Other identifiers:	10.1007/978-3-319-71058-7_44-1 [DOI] hdl:10419/198043 [Handle] RePEc:zbw:espost:198043 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10012016720