Summary of the Chapter 本章要点
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Summary of the Chapter 本章要点
Economic Basis for Financial Institution
Transaction Cost
Risk Sharing
Asymmetric Information:Adverse Selection and Moral Hazard
Functions of Financial Institution
Maturity Intermediation
Risk Reduction via Diversification
Reducing the Costs of Contracting and Information Processing
Providing a payment mechanism
Types of Financial Institution
Depository Institutions
Contractual Saving Institutions
Investment Intermediaries

