This second edition of an already widely-used textbook presents an
up-to-date analysis of the roles played by financial institutions
and markets in the working of the UK economy. For the second
edition Professor Bain has updated all empirical material as well
as addressing the internationalization of capital markets and
monetary policy and the increasing competition between banks in the
light of technological advances.
The introduction provides an overview of the system, and the
following sections deal with the theory of the financial system -
including the factors governing interest rates in Britain - the
saving, investment and financial behavior of the main sectors of
the economy, the modes of operation of the financial institutions
and markets, and the regulatory system. The final chapter examines
the efficiency with which the system fulfils its functions in the
economy, reaching a mixed verdict.
The book assumes only a basic grounding in economics and will be
widely recommended to students of macroeconomics, monetary
economics and finance. This second edition of an already
widely-used textbook presents an up-to-date analysis of the roles
played by financial institutions and markets in the working of the
UK economy. For the second edition Professor Bain has updated all
empirical material as well as addressing the internationalization
of capital markets and monetary policy and the increasing
competition between banks in the light of technological
advances.
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