Expanding on Ceremonial Encapsulation: The Case of Financial Innovation

Georgios Papadopoulos

Journal of Economic Issues, 2015, vol. 49, issue 1, 127-142

Abstract: The aim of this paper is to develop a theoretical framework for the study and integration of financial innovation in the institutional structures that support the operation of the monetary system. The background of the analysis comes from original institutional economics (Bush and Tool 2003; Foster [1942] 1981, [1949] 1981; Veblen [1914] 1964, [1889] 1996), the state theory of money (Ingham 2004; Papadopoulos 2009), and a specific account of social ontology based on constitutive and normative rules as well as the notion of collective intentionality (Searle 2005, 2010). The aim is a dynamic framework for the analysis of the institutional evolution of money, whereby institutional change comes from technology, and the state acts both as regulator of the institutional adjustment and guarantor of the stability and the efficiency of the monetary system. In that sense, the framework outlines the context and principles for the government regulation of financial innovation.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/00213624.2015.1013883 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:49:y:2015:i:1:p:127-142

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MJEI20

DOI: 10.1080/00213624.2015.1013883

Access Statistics for this article

More articles in Journal of Economic Issues from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().