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Terminology Support of Financial Intermediation Theory: Key Terms Development

Author

Listed:
  • Olena Honcharenko

    (Cherkasy Educational and Scientific Institute of Banking University, Cherkasy, Ukraine)

Abstract

The aim of the article is to determine the nature of definitions 'financial institution' and 'financial organization' as well as to establish relationships between them in the light of the specific activities of financial intermediaries. Terminological and etymological analysis of terms and definitions 'intermediary', 'financial intermediary', 'financial institution' and 'financial organization' were done. Relationship of financial institutions and financial organizations was proved. We revealed that the concept of 'financial intermediary', 'financial institution' and 'financial organization' is often identified in the economic literature and research papers. We proved that intermediation is essential for financial institutions, but not exclusive activities. A financial institution is regarded as a legal entity providing one or more financial services aimed at the transformation of its own and borrowed funds, both for clients and for their own benefit. Financial institutions were identified as a combination of economic, social, political, ethical and legal standards and requirements that determine the activities of financial institutions.

Suggested Citation

  • Olena Honcharenko, 2017. "Terminology Support of Financial Intermediation Theory: Key Terms Development," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 132-144, March.
    • Handle: RePEc:iaf:journl:y:2017:i:1:p:132-144
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    File URL: http://www.afj.org.ua/en/article/457/
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    References listed on IDEAS

    as
    1. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
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    Cited by:

    1. Hydzulkifli Hashim Omar* & Abubakar Yusuf Sanyinna, 2018. "Administrative Challenges of WAQF Institution in the Contemporary World: Future Prospects," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 294-299:6.

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    More about this item

    Keywords

    financial intermediation theory; financial intermediary; financial organization; financial institution; financial services;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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