Financial Innovation and the Current Economic Crisis: Do the Benefits Outweigh the Disadvantages?

Barna Flavia (), Miruna Nachescu and Dumbraveanu Andrada Alexandra ()
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Barna Flavia: West University of Timisoara, Faculty of Economics and Business Administration
Dumbraveanu Andrada Alexandra: West University of Timisoara, Faculty of Economics and Business Administration

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 1091-1096

Abstract: Globalization of financial markets and growing competition amid investment banks were the main stimuli for financial innovation. This paper aims to present the main implications of financial innovation. As most papers on this subject mainly cover the US market, the current paper distinguishes itself through its goal of analyzing the European securities market and assesses the impact of innovative financial instruments on the economic environment. The analysis performed in this paper shows the extent to which financial innovation is good for the economy and highlights the changes in consumer behaviour towards certain types of items used for funding.

Keywords: financial innovation; securities; crisis (search for similar items in EconPapers)
JEL-codes: F62 G01 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1091-1096

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