Finance and Financial Intermediation

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Author :
Publisher : Oxford University Press
ISBN 13 : 0190941723
Total Pages : 304 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Finance and Financial Intermediation by : Harold L. Cole

Download or read book Finance and Financial Intermediation written by Harold L. Cole and published by Oxford University Press. This book was released on 2019-03-29 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial system is a densely interconnected network of financial intermediaries, facilitators, and markets that serves three major purposes: allocating capital, sharing risks, and facilitating intertemporal trade. Asset prices are an important mechanism in each of these phenomena. Capital allocation, whether through loans or other forms of investment, can vary both across sectors-at the broadest, manufactures, agriculture, and services-and within sectors, for example different firms. The risk that various investors are willing to take reflects their financial position and alternative opportunities. Risk and asset allocation are also influenced by whether money, and especially its expenditure, is more important now or in the future. These decisions are all influenced by governmental policies. When there are mismatches, the results include financial meltdowns, fiscal deficits, sovereign debt, default and debt crises. Harold L. Cole provides a broad overview of the financial system and assets pricing, covering history, institutional detail, and theory. The book begins with an overview of financial markets and their operation and then covers asset pricing for standard assets and derivatives, and analyzes what modern finance says about firm behavior and capital structure. It then examines theories of money, exchange rates, electronic payments methods, and cryptocurrencies. After exploring banks and other forms of financial intermediation, the book examines the role they played in the Great Recession. Having provided an overview of the provate sector, Cole switches to public finance and government borrowing as well as the incentives to monetize the public debt and its consequences. The book closes with an examination of sovereign debt crises and an analysis of their various forms. Finance and financial intermediation are central to modern economies. This book covers all of the material a sophisticated economist needs to know about this area.

Firms as Financial Intermediaries

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Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Firms as Financial Intermediaries by : Vojislav Maksimovic

Download or read book Firms as Financial Intermediaries written by Vojislav Maksimovic and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade credit can be an important complement to lending by financial intermediaries.Demirguc-Kunt and Maksimovic argue that nonfinancial firms act as intermediaries by channeling short-term funds from the financial institutions in an economy to their best use. Nonfinancial firms act in this way because they may have a comparative advantage in exploiting informal means of ensuring that borrowers repay.These considerations suggest that to optimally exploit their advantage in providing trade credit to some classes of borrowers, firms should obtain external financing from financial intermediaries and markets when this is efficient. Thus the existence of a large banking system is consistent with these considerations.Using firm-level data for 39 countries, the authors compute turnovers in payables and receivables and examine how they differ across financial systems. They find that the development level of a country's legal infrastructure and banking system predicts the use of trade credit. Firms' use of bank debt is higher relative to their use of trade credit in countries with efficient legal systems. But firms in countries with large, privately owned banking systems offer more financing to their customers and take more financing from them.The authors' findings suggest that trade credit is a complement to lending by financial intermediaries and should not be viewed by policymakers as a substitute.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to understand firm financing constraints. The authors may be contacted at [email protected] or [email protected].

A History of Financial Intermediaries

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Publisher :
ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis A History of Financial Intermediaries by : Herman Edward Krooss

Download or read book A History of Financial Intermediaries written by Herman Edward Krooss and published by . This book was released on 1971 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Firms as Financial Intermediaries

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Author :
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Firms as Financial Intermediaries by : Aslı Demirgüç-Kunt

Download or read book Firms as Financial Intermediaries written by Aslı Demirgüç-Kunt and published by . This book was released on 2001 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade credit can be an important complement to lending by financial intermediaries.

Trade credit, financial intermediary development, and industry growth

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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)

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Book Synopsis Trade credit, financial intermediary development, and industry growth by : Raymond Fisman

Download or read book Trade credit, financial intermediary development, and industry growth written by Raymond Fisman and published by World Bank Publications. This book was released on 2001 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where do firms turn for financing in countries with poorly developed financial markets? One source is trade credit. And where formal financial intermediaries are deficient, industries that rely more on this source of financing grow faster.

Financial Intermediation in the 21st Century

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Publisher : Springer
ISBN 13 : 023029412X
Total Pages : 334 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Financial Intermediation in the 21st Century by : Z. Mikdashi

Download or read book Financial Intermediation in the 21st Century written by Z. Mikdashi and published by Springer. This book was released on 2001-08-08 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing interdependence of the world economy has huge implications for global finance in the twenty-first century. This volume brings together leading scholars and practitioners to offer in-depth analyses of the new direction open to the financial services industry. They explore the challenges and opportunities of the new finance era, future development in financial markets, with particular emphasis on the role of new technologies and the industry's view of strengthening financial intermediation. The book concludes with an assessment of key managerial and regulatory issues.

Competition and Finance

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Publisher : Springer
ISBN 13 : 1349248568
Total Pages : 584 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Competition and Finance by : Kevin Dowd

Download or read book Competition and Finance written by Kevin Dowd and published by Springer. This book was released on 1996-09-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition and Finance offers a new, unified treatment of the fields of financial and monetary economics. The first part integrates recent developments in agency theory and information economics into a unified financial theory of the firm. A review of recent developments in the economics of banking and then monetary economics leads to a conclusion assessing present-day systems of central banking and proposing financial and monetary reform.

Financial Intermediaries in the American Economy Since 1900

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Publisher :
ISBN 13 :
Total Pages : 462 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Financial Intermediaries in the American Economy Since 1900 by : Raymond William Goldsmith

Download or read book Financial Intermediaries in the American Economy Since 1900 written by Raymond William Goldsmith and published by . This book was released on 1958 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive treatment of the growth of financial institutions since the turn of the century and of their role in the American economy.

Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09

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Author :
Publisher : DIANE Publishing
ISBN 13 : 1437930905
Total Pages : 35 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09 by : Tobias Adrian

Download or read book Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09 written by Tobias Adrian and published by DIANE Publishing. This book was released on 2011 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The financial crisis of 2007-09 highlighted the changing role of financial institutions and the growing importance of the ¿shadow banking system,¿ which grew out of the securitization of assets and the integration of banking with capital market developments. In a market-based financial system, banking and capital market developments are inseparable, and funding conditions are tied closely to fluctuations in the leverage of market-based financial intermediaries. This report describes the changing nature of financial intermediation in the market-based financial system, charts the course of the recent financial crisis, and outlines the policy responses that have been implemented by the Fed. Reserve and other central banks. Charts and tables.

Modern Financial Intermediaries and Markets

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Author :
Publisher :
ISBN 13 : 9780131194700
Total Pages : 540 pages
Book Rating : 4.1/5 (947 download)

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Book Synopsis Modern Financial Intermediaries and Markets by : Nasser Arshadi

Download or read book Modern Financial Intermediaries and Markets written by Nasser Arshadi and published by . This book was released on 1997 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines firms, intermediaries, financial market instruments, and financial risk management.

Introduction to Business

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Publisher :
ISBN 13 : 9781947172555
Total Pages : 732 pages
Book Rating : 4.1/5 (725 download)

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Book Synopsis Introduction to Business by : Lawrence J. Gitman

Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2018 with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.

Comparing Financial Systems

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Publisher : MIT Press
ISBN 13 : 9780262011778
Total Pages : 524 pages
Book Rating : 4.0/5 (117 download)

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Book Synopsis Comparing Financial Systems by : Franklin Allen

Download or read book Comparing Financial Systems written by Franklin Allen and published by MIT Press. This book was released on 2000 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.

Performance of Financial Institutions

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Publisher : Cambridge University Press
ISBN 13 : 9780521777674
Total Pages : 516 pages
Book Rating : 4.7/5 (776 download)

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Book Synopsis Performance of Financial Institutions by : Patrick T. Harker

Download or read book Performance of Financial Institutions written by Patrick T. Harker and published by Cambridge University Press. This book was released on 2000-05-18 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efficient operation of financial intermediaries--banks, insurance and pension fund firms, government agencies and so on--is instrumental for the efficient functioning of the financial system and the fueling of the economies of the twenty-first century. But what drives the performance of these institutions in today's global environment? In this volume, world-renowned scholars bring their expertise to bear on the issues. Primary among them are the definition and measurement of efficiency of a financial institution, benchmarks of efficiency, identification of the drivers of performance and measurement of their effects on efficiency, the impact of financial innovation and information technologies on performance, the effects of process design, human resource management policies, as well as others.

Firm Size, Financial Intermediation and Business Cycle

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Publisher :
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.:/5 ( download)

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Book Synopsis Firm Size, Financial Intermediation and Business Cycle by : Rajeev Dhawan

Download or read book Firm Size, Financial Intermediation and Business Cycle written by Rajeev Dhawan and published by . This book was released on 1996 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The UK financial system

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Publisher : Manchester University Press
ISBN 13 : 1526105047
Total Pages : 458 pages
Book Rating : 4.5/5 (261 download)

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Book Synopsis The UK financial system by : Mike Buckle

Download or read book The UK financial system written by Mike Buckle and published by Manchester University Press. This book was released on 2016-10-21 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: The UK financial system, now in its fifth edition, provides an up-to-date discussion of the UK financial system and the changes affecting it. Throughout the world the nature and regulation of financial systems have changed dramatically following the global financial crisis. In this text the necessary underlying theory is introduced and a range of relevant statistics provided in each chapter to supplement the narrative. Coverage includes a critique of the UK financial institutions and markets, as well as regulation emanating both from within the UK and also from supranational bodies such as the Bank for International Settlements and the European Union. The discussion is based on both the underlying theory as well as the operating practices of the institutions and markets. Each supplemented by a comprehensive glossary, the book is subdivided into three main sections: financial institutions; financial markets; and the regulation of banks and other financial institutions. The book will be essential reading to lecturers and undergraduate students enrolled on courses in financial economics and banking.

Financial Intermediation in Europe

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Publisher : Springer Science & Business Media
ISBN 13 : 1461510139
Total Pages : 241 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Financial Intermediation in Europe by : Luke Drago Spajic

Download or read book Financial Intermediation in Europe written by Luke Drago Spajic and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two items were firmly on the European economic agenda in the 1990s: financial market integration and the creation of a common or single currency. The former was supposed to have been achieved in 1992 (via the Single Market Act, with some derogations), and the latter came into being on January 1, 1999. This study is concerned with a particular connection between the two themes, namely the process of financial intermediation and especially the role of banking. 1.1 Financial & Monetary Integration in Europe Up until the mid-1980s, European financial intermediation was, as else where 'on shore' in the post-war period, broadly characterised by a relatively high degree of diverse regulatory control and with cross-border restrictions (e.g., in the form of exchange controls). This resulted in the administration of interest rates and pegging of prime market yields, as well as restrictions on intermediary specialisation. Hence, it was easy to understand why price c ,etition was hardly ever seen. Within this kind of environment, banks and other financial intermediaries (OFIs) competed mainly on non-price terms - for example, through the expansion of branch networks. The Single Market Programme (SMP),l launched in 1986, was in a com plex way intended to level out and open up the domestic markets of the European Union (EU) to competition from entities in other Member States.

Financial Intermediaries

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Publisher :
ISBN 13 :
Total Pages : 568 pages
Book Rating : 4.3/5 (97 download)

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Book Synopsis Financial Intermediaries by : Benton E. Gup

Download or read book Financial Intermediaries written by Benton E. Gup and published by . This book was released on 1980 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: