Question: a,b,c thanks a) What are the basic functions of a financial system? Why is financial system important for improving economic welfare and promoting economic growth?

a,b,c thanks a,b,c thanks a) What are the basic functions of a financial

economic growth? (5 marks) b) What are the major differences between direct

a) What are the basic functions of a financial system? Why is financial system important for improving economic welfare and promoting economic growth? (5 marks) b) What are the major differences between direct financing and indirect financing? (57 c) What is the "impossibility trinity' in foreign exchange markets? Discuss with reference to the foreign exchange regime in Hong Kong (10 marks)

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