IDEAS home Printed from https://ideas.repec.org/a/elt/journl/v77y2010i307p759-770.html
   My bibliography  Save this article

La innovación financiera y la crisis mundial

Author

Listed:
  • Sánchez, Manuel

    (Subgobernador del Banco de México)

Abstract

This essay focuses on the nature and prospects of financial innovation in light of the recent global economic crisis. My central point is that although financial innovation has lately fallen out of favor because some of its products acted as vehicles in the credit boom that led to the crisis, criticism should be taken with caution. Innovation has been with us for a long time, and its overall contribution to finance and welfare has been positive. Provided that we strengthen prudential regulation to discourage excessive risk taking in the future, innovation can continue to benefit our societies.// Este artículo se enfoca en la naturaleza y los prospectos de la innovación financiera a la luz de la reciente crisis económica mundial. Mi punto focal es que a pesar de que en fechas recientes la innovación financiera ha caído en desgracia debido a que algunos de sus productos sirvieron como vehículos en el auge crediticio que derivó en la crisis, las críticas deben tomarse con cautela. La innovación está entre nosotros desde hace mucho tiempo y su contribución a las finanzas y el bienestar social ha sido positiva. Siempre y cuando fortalezcamos la regulación prudencial para desmotivar la toma excesiva de riesgos en el futuro, la innovación puede seguir beneficiando a nuestras sociedades.

Suggested Citation

  • Sánchez, Manuel, 2010. "La innovación financiera y la crisis mundial," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(307), pages 759-770, julio-sep.
  • Handle: RePEc:elt:journl:v:77:y:2010:i:307:p:759-770
    DOI: http://dx.doi.org/10.20430/ete.v77i307.453
    as

    Download full text from publisher

    File URL: http://www.eltrimestreeconomico.com.mx/index.php/te/article/view/453/495
    Download Restriction: no

    More about this item

    Keywords

    innovación financiera; crisis financiera;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • G1 - Financial Economics - - General Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:77:y:2010:i:307:p:759-770. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rosa María González Mejía). General contact details of provider: http://www.fondodeculturaeconomica.com/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.