Zirong Yang

This Element proposes an alternative framework for rethinking the role of finance in serving the real economy from the perspective of New Structural Financial Economics. It challenges the conventional wisdom that developing countries should take the financial structure of developed countries as the benchmark and financial structure does not matter in spurring long-run economic development. As a sub-discipline of New Structural Economics, New Structural Financial Economics has three tenets. First, examining the appropriate financial structure should take an economy's factor endowment structure as the starting point of analysis, which identifies its latent comparative advantage. Second, the appropriate financial structure is determined by the financing needs of the prevailing production structure. Third, a government should provide development financing to address market failures, and make tailored financial regulations in line with the characteristics of specific financial arrangements. This title is also available as Open Access on Cambridge Core.

This Element proposes an alternative framework for rethinking the role of finance in serving the real economy from the perspective of New Structural Financial Economics. It challenges the conventional wisdom that developing countries should take the financial structure of developed countries as the benchmark and financial structure does not matter in spurring long-run economic development. As a sub-discipline of New Structural Economics, New Structural Financial Economics has three tenets. First, examining the appropriate financial structure should take an economy's factor endowment structure as the starting point of analysis, which identifies its latent comparative advantage. Second, the appropriate financial structure is determined by the financing needs of the prevailing production structure. Third, a government should provide development financing to address market failures, and make tailored financial regulations in line with the characteristics of specific financial arrangements. This title is also available as Open Access on Cambridge Core.

Water and Thermal Management of Proton Exchange Membrane Fuel Cells introduces the main research methods and latest advances in the water and thermal management of PEMFCs. The book introduces the transport mechanism of each component, including modeling methods at different scales, along with practical exercises. Topics include PEMFC fundamentals, working principles and transport mechanisms, characterization tests and diagnostic analysis, the simulation of multiphase transport and electrode kinetics, cell-scale modeling, stack-scale modeling, and system-scale modeling. This volume offers a practical handbook for researchers, students and engineers in the fields of proton exchange membrane fuel cells. Proton exchange membrane fuel cells (PEMFCs) are high-efficiency and low-emission electrochemical energy conversion devices. Inside the PEMFC complex, physical and chemical processes take place, such as electrochemical reaction, multiphase flow and heat transfer. This book explores these topics, and more.