The Structure of Finance

In the traditional model of finance, households saved and firms borrowed through financial intermediaries. Those financial intermediaries might be banks or pension funds but the experience of intermediation in the UK does not encourage the thought that long term finance can easily be located. Do we need a Development Bank? The transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/lectures-and-events/the-structure-of-fina...