Financial intermediaries are essential institutions that facilitate the flow of funds between savers and borrowers, playing a critical role in individual and business financial activities, and their failure can have severe economic consequences.
Mind Map
클릭해서 펼치기
클릭해서 인터랙티브 마인드맵 전체 보기
♪ [music] ♪
- [Narrator] What are financial intermediaries?
Financial intermediaries are institutions
that reduce the cost of moving funds
between savers and borrowers.
The most common financial intermediaries
are banks, bond markets, and stock markets.
Why do we need financial intermediaries?
Well, individuals and businesses need to borrow and save
at different periods of their lives.
Individuals rely on borrowing
to invest in things like education and housing.
If your car breaks down
and you don't have enough money to fix it,
you can borrow money for repairs
and continue living your life.
And, individuals need to save for retirement
when their incomes drop but their needs don't.
Businesses also rely on credit to operate and grow.
Entrepreneurs with great ideas but not much money --
they can borrow money or sell a stake in their idea
to get their venture off the ground.
For example, Howard Schultz built Starbucks into a global brand
by borrowing and raising capital
through several different types of financial intermediaries.
Though less common, businesses can also save money.
Now, sometimes, the individual who needs to borrow
knows the individual willing to lend.
But financial intermediaries allow you to venture
beyond just borrowing $5 from Grandma.
So we see just how common borrowing and saving
through financial intermediaries is.
But what happens when these institutions fail?
Much like our real bridges,
it's only when the metaphorical bridges
of financial intermediation crumble
that we recognize just how dependent we are on them.
As just one example, on September 15, 2008,
the world's financial system was shaken to its core
when the investment bank Lehman Brothers
filed for bankruptcy.
The impact was great,
not simply because Lehman was big,
but also because it was an important financial intermediary
that connected savers to borrowers.
The failure of Lehman marked the beginning of a series of events
that signaled America's worst economic downturn
since the Great Depression.
And while there are several significant angles
to the Great Recession,
one of them was the decreased efficacy
of financial intermediation.
♪ [music] ♪
To learn more about specific kinds of financial intermediaries,
namely banks, click here.
Or, to test your knowledge on financial intermediaries,
click here.
♪ [music] ♪
Still here?
Check out Marginal Revolution University's other popular videos.
♪ [music] ♪
텍스트나 타임스탬프를 클릭하면 동영상의 해당 장면으로 바로 이동합니다
공유:
대부분의 자막은 5초 이내에 준비됩니다
원클릭 복사125개 이상의 언어내용 검색타임스탬프로 이동
YouTube URL 붙여넣기
YouTube 동영상 링크를 입력하면 전체 자막을 가져옵니다
자막 추출 양식
대부분의 자막은 5초 이내에 준비됩니다
Chrome 확장 프로그램 설치
YouTube를 떠나지 않고 자막을 즉시 가져오세요. Chrome 확장 프로그램을 설치하면 동영상 시청 페이지에서 바로 자막에 원클릭으로 접근할 수 있습니다.
