Innovation in Financial Systems. The Quest For Sustainability

Voicu-Doroban?u Roxana ()
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Voicu-Doroban?u Roxana: Bucharest University of Economic Studies, Romania

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 2, 1413-1418

Abstract: The paper focuses on the trials and tribulations the financial systems are facing in the current economic environment, in order to increase their economic sustainability, but also improve their social sustainability. As desperate times (characterized by an endemic crisis, reaching from the financial systems into the globalized economic network) require ‘desperate measures’, there is a certain need for improvement and innovation in instruments and behaviours exhibited by the actors in a financial system. The paper suggests two possible ways regarding the approach to sustainability, in particular social sustainability, for the financial systems. These creative methods rely mostly on the possibility to improve financial inclusion, to reduce risks related to non payments and, in the end, to ensure that the financial system is not an enhancer of poverty, but rather a solution to alleviate it.

Keywords: financial systems; innovation; sustainability (search for similar items in EconPapers)
JEL-codes: G15 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1413-1418

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