Ashford ECO 406: Week 1 – Dq 2

Ashford ECO 406: Week 1 – Dq 2

1st Posting Due by Day 3. Financial Institutions. What are the characteristics of a financial institution, and why does it lead to economic development? Be sure your answer includes an example of a developing country and the impact of financial institutions on their economic growth. Respond to at least two of your classmates’ postings

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Financial institutions

            These are institutions that mainly deal with financial transactions such as loans, mortgages, investments and deposits. They include banks, insurance companies, trust companies as well as investment dealers.

            These institutions normally have the same financial characteristics. They are made of capital. Capital is the money is that used to run the organization. It is the initial money that the organization has to start the financing process. Financial institutions deal with money. Money is the link between people and the institutions. The other

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