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4. (a) Discuss the role of asymmetric information in explaining financial intermediation. (15 marks) (b) Consider the role of liquidity insurance provision (Diamond and Dybvig)

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4. (a) Discuss the role of asymmetric information in explaining financial intermediation. (15 marks) (b) Consider the role of liquidity insurance provision (Diamond and Dybvig) in explaining financial intermediation. (10 marks)

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