Financial System and development - Financial System \u2022 The financial system an important institutional and functional vehicle for economic

Financial System and development - Financial System...

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Financial System The financial system an important institutional and functional vehicle for economic transformation. Finance is a bridge between the present and the future in terms of : mobilisation of savings or their efficient, effective and equitable allocation for investment, The pace of development depends on efficient financial system
Significance and Definition Financial system is a set of inter-related activities/services working for certain objectives FINANCIAL SYSTEM includes, different markets, the institutions, instruments, services and mechanisms which influence - the generation of savings, investment capital formation and growth .
Definition Financial markets allocate savings efficiently in an economy to ultimate users either for investment or for consumption. -Van Horne The objective of the financial system is to "supply funds to various sectors and activities of the economy in ways that promote the fullest possible utilization of resources " -Christy
Definition

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