- Author
- Year
- 2010
- Title
- Financial innovation: Economic growth versus instability in bank-based versus financial market driven economies
- Event
- Banking in light of the global crisis, Akko, Israel
- Book/source title
- Banking in light of the global crisis: Conference held at Western Galilee College, Akko, Israel, June 14-15, 2010: Conference papers
- Publisher
- Akko: Western Galilee College
- Document type
- Conference contribution
- Faculty
- Interfacultary Research
Faculty of Economics and Business (FEB) - Institute
- Amsterdam Center for Law & Economics (ACLE)
Amsterdam Business School Research Institute (ABS-RI) - Abstract
-
A fundamental feature of recent financial innovations is their focus on augmenting marketability. We point at the potential dark side of marketability. The paper casts its analysis of the pros and cons of financial innovation within the financial development and economic growth debate. The innovations are largely spurred by developments in information technology which may have caused excessive ‘changeability’ in the economy.
We also ask the question whether the proliferation of financial innovations might impact bank-based versus financial market driven economies differently. We argue that the enhanced marketability of bank assets has implications for stability. - Link
- Link
- Language
- English
- Persistent Identifier
- https://hdl.handle.net/11245/1.336963
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