金融学(双语)_Chp2.ppt

Chapter 2:  Financial Markets and Institutions 第二章:  金融市场和金融机构 Chapter 2 Contents 2.1 What is a Financial System? 2.2 The Flow of Funds 2.3 The Functional Perspective 2.4 Financial Innovation the “Invisible Hand” 2.5 Financial Markets 2.6 Financial Market Rates 2.7 Financial Intermediaries 2.8 Financial Infrastructure and Regulation 2.9 Governmental Quasi-Governmental Organizations 第二章主要内容 1 什么是金融体系？ 2 资金流动 3 从功能出发的视角 4 金融创新与“看不见的手” 5 金融市场 6 金融市场中的比率 7 金融中介 8 金融基础设施和管制 9 政府与准政府组织 The Financial System 金融体系 This chapter provides a framework for understanding how financial systems work 这一章提供一项理解金融体系怎样运作的概念性框架 2.1 What is the Financial System?  什么是金融体系？ A Financial System is comprised of markets, intermediaries, service firms and other institutions used to carry out the financial decisions of households, business firms, and governments 金融体系包括 金融市场、金融中介、金融服务企业以及其他用来执行居民户、企业和政府的金融决策的机构 Geography of the Markets 市场的地理位置 some markets for a particular market instrument may have a well defined geographic location such as the New York Stock Exchange or the Osaka Options and Futures Exchange 有些特定金融工具的市场拥有特定的地理位置，例如纽约证券交易所、大阪期权与期货交易所 other market instruments are traded on over-the-counter or off-exchange markets for bonds, stocks, and foreign exchange 其他金融工具通过柜台市场或场外交易市场进行交易，例如债券、股票以及外汇 Financial Intermediary 金融中介 a firm whose primary business is to provide financial services and financial products 金融中介被定义为主要业务是提供金融服务和金融产品的企业 （P26） Examples: Bank 银行 (checking accounts, loans, CDs …) Investment company 投资公司 (mutual funds …) Insurance company 保险公司 (term life insurance …) 2.2 The Flow of Funds 资金流动 Funds may flow from the surplus unit to the deficit unit Directly Through markets Through intermediaries 资金通过金融体系，从拥有资金盈余的主体流向存在赤字的主体 直接 通过金融市场 通过金融中介 The Flow of Funds Diagram 资金流动示意图 The Flow of Funds Diagram 资金流动示意图 We shall examine various pathways from the surplus unit to the deficit unit 资金可通过多种途径从盈余单位流向赤字单位 Fund Flows via Market 资金流经市场 A household