PROBLEM TO BE SOLVED: To provide an alkali-soluble resin capable of providing a photosensitive resin composition which has excellent development characteristics as well as sufficient photodiscoloration resistance; and the photosensitive resin composition.SOLUTION: A reaction product of an unsaturated group-containing monocarboxylic acid and an epoxy compound (a-1) having two epoxycycloalkyl groups in each molecule is reacted with a dicarboxylic acid or tricarboxylic acid or an acid monoanhydride thereof (b) and a tetracarboxylic acid or an acid dianhydride thereof (c); thereby obtaining an alkali-soluble resin of the general formula (1). Also provided is a photosensitive resin composition comprising the same.
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