THE FUNCTIONS OF FINANCIAL INTERMEDIATION - A SURVEY

Andries Marius Alin
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Andries Marius Alin: Al. I. Cuza University of Iasi

Ovidius University Annals, Economic Sciences Series, 2009, vol. 1, issue 9, 53-59

Abstract: Traditional theories of intermediation are based on transaction costs and asymmetric information. In recent decades although transaction costs and asymmetric information have declined, intermediation has increased. New markets for financial futures and options are mainly markets for intermediaries rather than individuals or firms. In this paper we survey the last theoretical and empirical research on financial intermediation and functions of financial intermediation. We discuss the functions of intermediation in this new context.

Keywords: financial intermediation; asymmetric information; survey (search for similar items in EconPapers)
JEL-codes: G00 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:1:y:2009:i:9:p:53-59

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