JaiGuruji
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Hi guys, could someone please explain what is meant by financial frictions.

Also what is meant by complete markets and perfect markets and how these are different to incomplete markets and imperfect markets.

I'd really appreciate all help.

Thank you very much.
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jpt4749
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For me I think financial friction means there is a turbulence preventing the liquidity from flowing freely which might negatively affect the market sentiment.

Incomplete market might be referred to a market with asymmetric information between buyers & sellers and can lead to market failures which may need government intervention.
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