1
The Financial System: An Introduction
Chapter Objectives
This chapter will enable you to develop an understanding of the following:
Meaning of a financial system
Components of a financial system
Functions of a financial system
Key elements of a well-functioning financial system
Bank-based and market-based financial systems
Nature and role of financial institutions and financial markets
Link between money markets and capital markets
Link between primary markets and secondary markets
Functions and characteristics of financial markets
INTRODUCTION
A financial system plays a vital role in the economic growth of a country. It intermediates between the flow of funds belonging to those who save a part of their income and those who invest ...
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