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Characteristics of the Spanish financial system
- Grado
- Economia Sectorial
- Institución
- Universitat Autónoma De Barcelona
Apuntes sobre the characteristics of the Spanish financial system
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Characteristics of the Spanish financial systemThe Spanish financial system has undergone very important changes in the last 30 years.
1. The great growth of financial activity, financial assets account for
(700% of GDP). This is due to the great economic development of our
economy, to the opening to the outside that makes resources come
from abroad and this is very important, and the modernization of the
financial system.
2. The remarkable development of the financial markets, our model is
important, but in these 30 years the importance of the financial
markets has grown a lot. In such a way that currently marketable
securities account for 42% of our economy. They have reduced their
importance to loans from 39% to 25% and have grown above all
assets linked to the markets, which are shares, bonds, funds, etc. This
great growth of the financial markets is due to several reasons:
sophistication of the monetary policy of the countries, the need to look
for sources of financing alternative to the traditional ones and also that
they are cheaper, the need that the public sector has for resources, the
greater financial culture that people have and the negotiation part itself
that people are beginning to have.
This expansion of markets has in turn fueled the development of non-bank financial
intermediaries. 3 modalities:
1. Investment
2. funds Pension funds
3. Insurance companies
These three modalities are what have promoted the role of the markets. This has
occurred in all countries and has generated large and important movements of capital
at the international level. This growth of the markets (of non-bank intermediaries) has
been associated with several reasons:
1. The saver has better training and seeks professionalized management
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