Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 08 March 2021

Abstract and Keywords

Securities markets exist to serve the needs of governments and businesses on the one hand and investors on the other, and the role that they played was a product of the balance between these two needs. Securities market had to compete for business with government finance and the intermediation of banks while investors could invest directly in business or property or save with banks. Those providing the market for securities also helped determine its shape. In some countries, that shape was left to self-regulation, while in others there was a considerable government intervention, often driven by events such as wars and financial crises. The result in some countries was the emergence of banks that controlled all aspects of the securities markets while for others the business was distributed between specialist intermediaries such as investment banks, brokers and dealers.

Keywords: securities, stocks, bonds, primary market, secondary market, stock exchanges

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.