In emerging market economies with underdeveloped capital and uncertain government policies, business groups can provide efficiencies similar to those that can be achieved through contracting in developed economies.

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In emerging market economies with underdeveloped capital and uncertain government policies, business groups can provide efficiencies similar to those that can be achieved through contracting in developed economies. This is because business groups can provide access to resources, coordinate activities, and share risks among affiliated firms, leading to greater efficiency and competitiveness.

In Emerging Market Economies with Underdeveloped Capital and Uncertain Government