Financial markets design and developing country growth : the case of Dubai International Financial Exchange (DIFX)
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- Master Thesis 
The aim of this thesis is showing how financial market design can facilitate the growth of developing countries. The paper is divided into two main parts (II and III). Part II explains how financial markets support developing countries by improving the accumulation of capital and increasing the pace of technological enhancements, since both advance growth and economic productivity. These two roles are in turn direct consequences of performing the six growth related functions: mobilization of savings; risk reduction; better information access; improved corporate control; facilitate the exchange; and support for financial integration. Part III, will then describe the design of the Dubai International Financial Exchange, as a financial market in a developing country, demonstrating how these six functions can be performed. Part I, only briefly, explains financial markets, and is there to provide a background for the reader. At the end of the paper, some recommendations and conclusions are discussed.