Introduction

José Luis Malo de Molina and Pablo Martín-Aceña

A chapter in The Spanish financial System, 2012, pp 1-16 from Palgrave Macmillan

Abstract: Abstract The financial system plays an essential role in a modern economy. Banking, in the broadest sense of the word, channels savings into investment and provides economic agents with products with which to obtain returns on their surpluses and funds with which to finance their consumption and investment plans. This is an essential task, because savers and investors are not always the same social partners, and because their preferences as regards liquidity, security and returns do not generally coincide. Moreover, as the intermediary in savings and investment flows, the financial system also creates and manages a considerable portion of the means of payment of the economy.

Keywords: Financial System; Financial Development; Saving Bank; Credit Institution; Macroeconomic Stability (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-36114-0_1

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DOI: 10.1057/9780230361140_1

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