Download the fantastic book titled Financial Innovation with a particular view on the role of banks written by Volker Schmid, available in its entirety in both PDF and EPUB formats for online reading. This page includes a concise summary, a preview of the book cover, and detailed information about "Financial Innovation with a particular view on the role of banks", which was released on 29 August 2004. We suggest perusing the summary before initiating your download. This book is a top selection for enthusiasts of the Business & Economics genre.
Summary of Financial Innovation with a particular view on the role of banks by Volker Schmid PDF
Scientific Essay from the year 2004 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,7 (A-), University of Teesside (Teesside Business School), course: Money and Finance - Economics, language: English, abstract: Financial markets have always undergone changes . However since the 70s the speed of change has accelerated enormously . New types of financial instruments, financial markets and techniques have been developed. The most significant innovations have been the financial derivatives, e.g. futures, options and swaps and the development of securitisation which have mainly been created to manage risk and provide liquidity. The market for these instruments has become huge – by some estimates in excess of $100 trillion . History shows that financial innovation has been a critical and persistent part of the economic landscape. But why has it been like that? First of all for a better understanding it is necessary to define the term ‘financial innovation’. Financial innovation is described by Van Horne as “the life blood of efficient and responsive capital markets” . He emphasis that it is part of the bedrock of our financial system. Merton views financial innovation as “the engine driving the financial system towards its goal of improving the performance of what economists call the real economy”. Other authors define financial innovation as “the design of new financial instruments and techniques of financial intermediation, structural change in the financial system, with the appearance of new financial markets and changes in organisation and behaviour of institutions” as well as “the design of new financial instruments or the packaging together of existing financial instruments” . There is a general recognition of the particular importance of financial innovations for the wealth of a society. This paper outlines the nature and main features of innovation in financial markets and suggests what factors may stimulate the apparent increase in the rate of innovation since the 1970s with a particular view on the role of banks. The final part discusses the question if financial innovations have been beneficial for borrowers and lenders?
Detail About Financial Innovation with a particular view on the role of banks PDF
- Author : Volker Schmid
- Publisher : GRIN Verlag
- Genre : Business & Economics
- Total Pages : 13 pages
- ISBN : 3638303306
- Release Date : 29 August 2004
- PDF File Size : 10,5 Mb
- Language : English
- Rating : 4/5 from 21 reviews
Clicking on the GET BOOK button will initiate the downloading process of Financial Innovation with a particular view on the role of banks by Volker Schmid. This book is available in ePub and PDF format with a single click unlimited downloads.
