Financial Innovation And Their Role In Economic Development

Maia Pisaniuc

from Academy of Economic Studies of Moldova, Centre for Studies in European Integration

Abstract: Over the last twenty years, a number of countries have focused on developing innovation in various forms. Financial innovation is one of the innovations that often presents with contradictory effects in the perception of many people. In this article, we wanted to present what is the financial innovation that is its effects on the banking systems of developed countries, on the quality of customer service, on the economy of the country. I have put more emphasis on analyzing the use of financial products, and at the same time using the technologies on the financial market. We have tried to demonstrate the effects of derivatives on the efficiency of banking. As research methods, we used analysis, comparison, evolutionary approach, synthesis etc.

Keywords: Financial innovation; financial engineering; derivatives; economic development; financial instruments; financial products. (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:tkp:fktm17:225-231

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