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Essay: The Financial System

Author

Listed:
  • Dr. Gaurav Goyal

    (Senior Faculty, BBA Department, I. P. College, Bulandshahr.)

Abstract

Financial instruments range from the common (coins, currency notes, demand deposits, corporate debentures, gilt-edged securities and equity shres) to the more exotic (futures and options). Financial instruments may be viewed as financial assets and financial liabilities. Financial assets represent claims against the future income and wealth of others. Financial liabilities, the counterparts of financial assets, represent promises to pay some portion of prospective income and wealth to others. Financial assets and liabilities emanate from the basic process of financing. They distribute the returns and risks of economic activities to a variety of participants. The important financial assets and liabilities, claims and promises to a variety of participants.

Suggested Citation

  • Dr. Gaurav Goyal, 2008. "Essay: The Financial System," Journal of Commerce and Trade, Society for Advanced Management Studies, vol. 3(2), pages 86-88, October.
    • Handle: RePEc:jct:journl:v:3:y:2008:i:2:p:86
    as

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