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Innovation in Financial Systems. The Quest For Sustainability

Author

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  • Voicu-Doroban?u Roxana

    (Bucharest University of Economic Studies, Romania)

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.

Suggested Citation

  • Voicu-Doroban?u Roxana, 2012. "Innovation in Financial Systems. The Quest For Sustainability," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1413-1418, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1413-1418
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    More about this item

    Keywords

    financial systems; innovation; sustainability;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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