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Financial Innovation and the Current Economic Crisis: Do the Benefits Outweigh the Disadvantages?

Author

Listed:
  • Barna Flavia

    (West University of Timisoara, Faculty of Economics and Business Administration)

  • Nachescu Miruna Lucia

    (West University of Timisoara, Faculty of Economics and Business Administration)

  • Dumbraveanu Andrada Alexandra

    (West University of Timisoara, Faculty of Economics and Business Administration)

Abstract

Globalization of financial markets and growing competition amid investment banks were the main stimuli for financial innovation. This paper aims to present the main implications of financial innovation. As most papers on this subject mainly cover the US market, the current paper distinguishes itself through its goal of analyzing the European securities market and assesses the impact of innovative financial instruments on the economic environment. The analysis performed in this paper shows the extent to which financial innovation is good for the economy and highlights the changes in consumer behaviour towards certain types of items used for funding.

Suggested Citation

  • Barna Flavia & Nachescu Miruna Lucia & Dumbraveanu Andrada Alexandra, 2013. "Financial Innovation and the Current Economic Crisis: Do the Benefits Outweigh the Disadvantages?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1091-1096, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1091-1096
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    More about this item

    Keywords

    financial innovation; securities; crisis;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

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