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A financial system (within the world of finance) is a system that allows the transfer of money between savers (and investors) and borrowers. Financial systems operate both at national and global levels or at a firm-specific level. Gurusamy in ''Financial Services and Systems,'' has described financial systems as "a set of complex and closely interconnected financial institutions, markets, instruments, services, practices, and transactions."〔Gurusamy, S. (2008). ( ''Financial Services and Systems'' ) 2nd edition, p. 3. Tata McGraw-Hill Education. ISBN 0-07-015335-3〕 According to Franklin Allen and Douglas Gale in ''Comparing Financial Systems'': "Financial systems are crucial to the allocation of resources in a modern economy. They channel household savings to the corporate sector and allocate investment funds among firms; they allow inter temporal smoothing of consumption by households and expenditures by firms; and they enable households and firms to share risks. These functions are common to the financial systems of most developed economies. Yet the form of these financial systems varies widely." The components of the financial system include: banks (both government banks and those in the private sector); financial markets; financial instruments; and financial services Money, Credit and Finance serve as a medium of exchange. They work against the divisibility problem, which is that media of exchange frequently do not represent equal value for the parties to the transaction. Credit is the process which facilitates the flow of funds from one party to another, which have to be returned at a stipulated time with interest. ==The Components of a Financial System== Financial Institutions include: *Central Banks *Commercial Banks *Public Banks *Private Sector *Cooperative Banks *State Cooperative Banks/State Land Development Banks. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「financial system」の詳細全文を読む スポンサード リンク
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