Financial Intermediation: A Philosophical Approach

Iwedi Marshal

Abstract


Philosophy of finance is an emerging field that tackles issues at the intersection of finance and many branches of philosophy such as ethics, political philosophy, philosophy of science, and epistemology. But in this paper emphasis was placed on the philosophy of financial intermediation with special focus on deciphering the process of financial intermediation, why financial intermediaries exist and the theories of financial intermediation. It demonstrated how the main functions of financial intermediaries such reduction of transaction cost, information asymmetry, liquidity provision and delegated monitoring among others have aided in understanding how financial intermediation affect the economy.

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