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"Define what is meant by the financial sector. Explain why it is important that the..."
Define what is meant by the financial sector. Explain why it is important that the government exercise some control over the financial sector. Explain how the Reserve Bank uses domestic Market operations in order to influence over all level of economic ac
Author:
Chad Boger
Financial markets play a crucial role in the operation of modern market economies. They provide a return for those who have excess funds or savings, while making loan funds available to those who need additional money. Not only is the financial service industry one of the largest industry in Australia, but its actions also influence all other industries because of its key role in the economy. For this reason, the deregulation of the financial sector in Australia since the 1980s has brought far reaching consequences.


Financial markets are commonly divided into two main types -

• Primary markets involve direct transactions between purchases and the initial seller of some sort of security. A security is a document entitling its owner to a financial asset, such as a share in a company or interest payments on a debt. When a company is first floated on the stock market, this represents a primary market transaction. Companies that wish to issue securities to the general public via a primary market must follow very specific procedures, such as releasing a prospectus for shares. In a primary market, the money received from investors goes to directly to the company. The release for a prospectus for new Telstra shares is an example of a primary market activity.

• Secondary markets involve transactions with securities that have been issued on a primary market some time in the past. The vast majority of financial market transactions are on secondary markets, with existing securities. The company that first issued the security has no involvement with secondary market transactions. For example the Australian Stock Exchange is one of the largest secondary markets in Australia.


In various ways all financial intermediaries perform the same basic information – they channel the excess savings from the (net savers) in the economy to those who wish to borrow...

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essay on Define what is meant by the financial sector. Explain why it is important that the government exercise some control over the financial sector. Explain how the Reserve Bank uses domestic Market operations in order to influence over all level of economic ac
Pages:
7 (1911 words)
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Added:
02/19/2012
Category:
Business
Plagiarism level of this essay is: 87%
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