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4.1.1.

, . , , ; , - . , 1973 . . (. Shaw) . (R. McKinnon) (financial deepening) (financial repression). , , , . ( 1) , , , . , , , , , . (, ), , . .; . .

    1, , : () ; () ; () . . Mop (Thomas More, 14781535), , , , - ; , ( ,; [, , , . 2, . 164167]).

, , , , . .

, , , . , , ., . . . , . , . ; . 4.1.

(Foreign Exchange Market, Forex Market) , . - . (Money Market) , . (Gold Market) , , , . ; .

(Capital Market) , . , . (Stock Market) (Bond Market, Credit Market).

, . , , . 4.2. , , .

 ,

. :

    1 ( );
    2 ( ):
    3 , , , . ( ; ); -
    4 ;
    5 ;
    6 ;
    7 ( ) ; : () ( , , ) () ;
    8 (. . , );
    9 (. . );
    10 .

. (Primary Market) , () . . , , , . (Secondary Market) . , , , , . , . .

. , (. . ), , , . , , , .

(Securities Market), ( ), , .

, . , . , . , , . , . , (Over-the-Counter Stock Market), , . . , 2000 . NASDAQ 4734 , 7,4 , ( : , - 2000 11,2 .) [Reilly, Brown, . 121]. : () ; () ; () (, ); () ; () .

(Spot Market) ; (Forward Market) , . , , : , , .

- , , -, ; -, ; -, (, - ; , , ).

, (London Interbank Offered Rate, LIBOR), (London Interbank Bid Rate, LIBID), (Frankfurt Interbank Offered Rate, FI BOR) . , () . ( ) 11 . , .

1994 . , - . MIBOR, MIBID MIACR. (Moscow Interbank Offered Rate, MIBOR), , , ( , , .). (Moscow Interbank Bid Rate, MIBID), , , . (Moscow Interbank Actual Credit Rate, MIACR) .

 

 

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