Munich Personal RePEc Archive

Understanding market failure in the developing country context.

Jackson, Emerson Abraham and Jabbie, Mohamed (2019): Understanding market failure in the developing country context. Published in: Springer Nature (29 April 2019): pp. 1-12.

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Abstract

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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