This valuable book discusses in detail, through a blend of theory
and empirical research, the processes of innovation and the
diffusion of new financial instruments. The contributors explore
theoretical issues such as the relationship between financial
innovation and market structure and the legal protection of
financial innovation. They examine various topics on retail
banking, from payment services and procedures, trading online,
internet banking and profitability of retail banking to
microfinance. This comprehensive book also focuses on innovation in
corporate banking, such as credit derivatives and their
implications for the relationship between banks and markets in
financial systems. This book will be invaluable to postgraduate
students, researchers and academics with an interest in economics
and finance and financial innovation in particular.
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