期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2012
卷号：12
期号：1
语种：English
出版社：Ovidius University Press
摘要：Financial innovations,as process innovations,next to product innovations are vectors of the financial liberalization. The expected effect of the financial innovation is the economic growth,through the diversification of the possibilities of investments in the global real economy. The present paper aims to present and analyze the characteristics,dynamics and complexity of financial innovation and to identify,in the context of the present financial crisis,the effects induced both on the mature financial markets and the emerging markets. The analysis performed in the present paper indicates that the degree of impact the present financial crisis has on different economies of the world depends on the vulnerabilities of each economy but also on the degree of exposure to innovative financial assets that proved to be toxic.
