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Financial Innovation

Financial Innovation

Philip Molyneux, Nidal Shamroukh

ISBN: 978-0-471-98618-8

Jun 1999

316 pages

Select type: Hardcover

In Stock



Financial Innovation Philip Molyneux and Nidal Shamroukh Over the past twenty years there has been a massive increase in the development of new financial instruments, many of which have been off-balance-sheet activities. These instruments have become increasingly complex, placing higher demand on both the purchasers and the creators of such instruments. The risks involved and the penalties paid by those who have not adequately understood these products are well known. This book discusses in detail, through a blend of theory and empirical research, the processes of innovation and the diffusion of new financial instruments. It relates the theoretical approaches to innovation to current practice,producing and testing models for innovation and the diffusion of new financial products. Finance/Economics

1. Technical and financial innovation; an introduction

2. Growth of financial innovations

3. Theoretical approaches towards financial innovation

4. Models of innovation; the industrial economics literature

5. Models of innovation: adoption and diffusion

6. Financial innovation: an industrial economics perspective

7. Modelling the diffusion of financial innovations: methodological approach

8. Modelling the diffusion of financial innovations: some empirical evidence

9. Conclusions and summary