The Economics Of Money, Banking, And Financial Markets (7th Ed) (pdf)

Part II of this book focuses on financial markets, markets in which funds are trans-ferred from people who have an excess of available funds to people who have a short-age. Financial markets such as bond and stock markets are crucial to promotinggreater economic efficiency by channeling funds from people who do not have a pro-ductive use for them to those who do. Indeed, well-functioning financial markets area key factor in producing high economic growth, and poorly performing financialmarkets are one reason that many countries in the world remain desperately poor.Activities in financial markets also have direct effects on personal wealth,...
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