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Financial innovation, opportunities and critical aspects

Author

Listed:
  • Mario Sarcinelli

    (Presidente Dexia Group)

Abstract

Even if financial innovation contributed to the instability of the financial system, it plays a social role in the economy on the basis of the following principles: the inter-temporal transfer of money value, the capability to construct contracts based on future results and the tradability of rights connected. In the last years almost all financial innovations are defined in order to complete markets structurally uncompleted, to reduce the asymmetric information in contracts definition, to reduce costs, to react to fiscal or regulatory innovation, to respond to globalization and increased volatility.

Suggested Citation

  • Mario Sarcinelli, 2009. "Financial innovation, opportunities and critical aspects," BANCARIA, Bancaria Editrice, vol. 7, pages 69-72, July.
    • Handle: RePEc:ban:bancar:v:7:y:2009:m:july:p:69-72
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/1974/bancaria-n-7-8-2009
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    More about this item

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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