FINANCIAL INNOVATION AND A GLOBALIZED FINANCIAL WORLD

George Horia Ionescu () and Ruxandra Vilag
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George Horia Ionescu: Romanian American University

Romanian Economic Business Review, 2015, vol. 10, issue 2, 140-146

Abstract: In the last 25 years, financial systems around the world have gone undergone unprecedented changes. Investors can borrow large amounts of money at cheaper rates than ever before, invest in a very large variety of sophisticated financial instruments, seeking the profits and sharing the risk with strangers from across the globe, at speed of light. Because of the globalization of financial markets throughout the world, entities in any country seeking to raise funds need not be limited to their domestic financial market. Nor are investors in a country limited to the financial assets issued in their domestic market. Globalization means the integration of financial markets throughout the world into an international financial market. Have these undoubted benefits come at a cost?

Keywords: financial innovation; financial market; globalization; financial crises (search for similar items in EconPapers)
Date: 2015
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