Roots of Modern Financial Markets - Coursework Example

The paper "Roots of Modern Financial Markets" is a great example of finance and accounting coursework. From a broad analysis of literature reviews among numerous scholarly works, it is outright that financial markets have a long history. Just like Walter (2001, p. 1–20) asserted, the essential knowledge within the finance industry is quite simple, but it needs more than arithmetic to explain. The definition of the financial field since long times in history explains the whole scenario as a situation involving property, credit or money (Anastassios 2007, p. 461 -1 476). In the same context, this holds the three aspects as commodities all along demanded by humankind since the earliest days of evolution. The financial commodities in broad context have been taken as inputs that facilitate trade, investment as well as enable commerce thus accommodating the accretion, distribution and mountainous of wealth by corporations, or individuals within respective states (Walter 2001, p. 1–20). Financial transactions since history have been vibrant in an infinite variety but requiring the services of banks and financial markets that develop a field of operation. In reality, financial institutions for instance banks have dominated the financial industry as the local institutions over a long period in history (Andreas and Patrick 2004, p.36 – 44). These banks have been localized but emerging as seeking clients from outside with time.

Banks have for long held a history rich in diversity of products, international scope, and progressive reforms as well as adaptation (Kumar 2009, p. 235 - 251). Generally, there has been a demand of reforms within the financial institutions helping in the adjustment to changes in economic and regulatory statuses that have been quite drastic (Walter 2001, p. 1–20). On such occasions, where reforms have been sought, banks have collapsed in this case being replaced with the introduction of other institutions within the “dangerous” but quite in favor and profitable business (Wagner 2005, p.616 – 638). There also have been new competitors appearing within the market especially within the rapidly developing economies and have been experiencing light governmental interferences.