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Innovation in the International Financial Markets

Author

Listed:
  • Gunter Dufey

    (The University of Michigan)

  • Ian H Giddy

    (Columbia University)

Abstract

New financial techniques and instruments are created when both the demand for and the supply of those instruments become sufficiently large. New financial instruments appear almost always to represent new combinations or packages of a relatively small number of financial services. In the international context these packages are designed to cope with controls on international financial transactions and with the peculiar interest and exchange risks faced by international firms and banks. This approach, when applied to a wide range of new international instruments, seems to explain why some have failed and others have succeeded.© 1981 JIBS. Journal of International Business Studies (1981) 12, 33–51

Suggested Citation

  • Gunter Dufey & Ian H Giddy, 1981. "Innovation in the International Financial Markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 12(2), pages 33-51, June.
    • Handle: RePEc:pal:jintbs:v:12:y:1981:i:2:p:33-51
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    Cited by:

    1. Oke, Micheal Ojo, 2012. "Foreign Direct Investment and the Nigerian Financial Sector Growth," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 2(2), pages 262-275, June.
    2. Richard M. Levich, 1987. "Developing the ECU Markets: Perspectives on Financial Innovation," NBER Working Papers 2276, National Bureau of Economic Research, Inc.
    3. Fadzlan Sufian, 2012. "Determinants of multinational banks’ subsidiary performance: the host and home country effects," Journal of Economic and Administrative Sciences, Emerald Group Publishing Limited, vol. 28(2), pages 130-155, February.
    4. Josep Garcia Blandón, 1999. "The timing of foreign direct investment under uncertainty: Evidence from the Spanish banking sector," Economics Working Papers 360, Department of Economics and Business, Universitat Pompeu Fabra.
    5. Alicia Garcia-Herrero & Daniel Navia Simon, 2006. "Why Banks go to Emerging Countries and What is the Impact for the Home Economy? A Survey," Working Papers 0602, BBVA Bank, Economic Research Department.
    6. Gantenbein,, 2016. "Unternehmerisches Finanzmanagement – Meilensteine der Entwicklung," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 70(4), pages 387-406.
    7. Richard M. Levich, 1987. "Financial Innovations in International Financial Markets," NBER Working Papers 2277, National Bureau of Economic Research, Inc.

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