Abstract
Financial intermediation is the process of transferring sums of money from economic agents with surplus funds to economic agents that would like to utilize those funds. The key to understanding the process and the range of financial instruments available lies in recognizing that economic agents are a heterogeneous bunch having very different financial positions, investment, business and financial needs. For this reason, there are a wide range of financial intermediaries and financial instruments servicing these needs.
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Further reading
Buckle, M. and Thompson, J. (2004) The UK Financial System: Theory and Practice 3rd edn, Manchester University Press.
Mayer, C. and Vives, X. (1995) Capital Markets and Financial Intermediation Cambridge University Press.
Mikdashi, Z. (2001) Financial Intermediation in the Twenty-first Century Palgrave Macmillan.
Spajic, L.D. (2002) Financial Intermediation in Europe Kluwer Academic Press.
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© 2005 Keith Pilbeam
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Pilbeam, K. (2005). Financial Intermediation and Financial Markets. In: Finance and Financial Markets. Palgrave, London. https://doi.org/10.1007/978-1-349-26273-1_2
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DOI: https://doi.org/10.1007/978-1-349-26273-1_2
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-62945-1
Online ISBN: 978-1-349-26273-1
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