Financial Innovation: Theoretical Issues and Empirical Evidence in Europe

Abstract

Financial innovation has always characterized the evolution of financial activities to a varying extent, but this has become more and more evident in the past 15 years, particularly as a consequence of technological innovation and deregulation. Acceleration of speed and alterations of formats can be envisaged, with changes — sometimes radical — in the processes and organizational structures of financial firms, the creation of more and more complicated financial instruments and of secondary markets for trading and the development of products aimed at the transfer and subsequent allocation of specific risk types.KeywordsTotal AssetProduct InnovationFinancial InnovationBank SizeDomestic BankThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.