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Lecture 16 - Why financial institutions exist

Lecture 16 - Why financial institutions exist - Financial...

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Financial Markets and Institutions Why do Financial Institutions exist? (The Financial Structure of Firms) Mishkin & Eakins 6 th ed. Chapter 15
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Overview Financial Structures of economies: stylised facts Role of financial intermediaries: Traditional view: asset transformer Modern view: adverse selection; moral hazard. Solutions brought by the financial system
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