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Thoughts about Financial Innovation

In: Achieving Financial Stability Challenges to Prudential Regulation

Author

Listed:
  • Josh Lerner
  • Peter Tufano

Abstract

The significance of financial innovation has been widely touted. Many leading scholars, including Miller (1986) and Merton (1992), highlight the importance of new products and services in the financial arena, sometimes characterizing these innovations as an “engine of economic growth”…

Suggested Citation

  • Josh Lerner & Peter Tufano, 2017. "Thoughts about Financial Innovation," World Scientific Book Chapters, in: Douglas D Evanoff & George G Kaufman & Agnese Leonello & Simone Manganelli (ed.), Achieving Financial Stability Challenges to Prudential Regulation, chapter 19, pages 261-277, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813223400_0019
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    More about this item

    Keywords

    Money and Banking; International Banking; Financial Instititions; Banks; Regulations; Compliance; Financial Crisis; Great Financial Crisis 2008; Microprudential; Macroprudential; Financial Stability;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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