Financial innovation, opportunities and critical aspects

Mario Sarcinelli
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Mario Sarcinelli: Presidente Dexia Group

BANCARIA, 2009, vol. 7, 69-72

Abstract: Even if financial innovation contributed to the instability of the financial system, it plays a social role in the economy on the basis of the following principles: the inter-temporal transfer of money value, the capability to construct contracts based on future results and the tradability of rights connected. In the last years almost all financial innovations are defined in order to complete markets structurally uncompleted, to reduce the asymmetric information in contracts definition, to reduce costs, to react to fiscal or regulatory innovation, to respond to globalization and increased volatility.

JEL-codes: G01 G21 G28 (search for similar items in EconPapers)
Date: 2009
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