A New Perspective on the Role of Finance

Dick Bryan and Michael Rafferty

Chapter 2 in Capitalism with Derivatives, 2006, pp 19-38 from Palgrave Macmillan

Abstract: Abstract Debates about the role of derivatives are only now emerging. Some see them as mathematically elegant tools of risk management; others, as dangerous tools of speculation. These widely divergent interpretations tend to constitute rather discrete and non-interacting analyses, reflecting disparate world-views. In particular, it is hard to find research published in the leading academic finance journals that countenances notions of gambling or engages propositions of social disorder created by ‘hot money’. With notable exceptions,1 few of the outright critics of the impact of derivatives bother with the mechanics.

Keywords: Financial Market; Pension Fund; Strike Price; Transnational Corporation; Financial Service Industry (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50154-6_2

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DOI: 10.1057/9780230501546_2

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