Naslov
Dilemmas over financial innovation development. The case of credit derivatives

Autori
Pruchnicka-Grabias, Izabela

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Interdisciplinary management research VII

Urednik/ci
Barković, Dražen ; Runzheimer, Bodo

Izdavač
Sveučilište Josipa Jurja Strossmayera u Osijeku ; Hochschule Pforzheim University of Applied Sciences

Grad
Osijek : Pforzheim

Godina
2011

Raspon stranica
498-512

ISBN
978-953-253-096-4

Ključne riječi
financial innovation, standard derivatives, exotic derivatives

Sažetak
The author analyses the virtues and drawbacks of financial innovation over the last 15 years to show that from one point of view it plays a positive role in the development of the world economy, however from another point of view it creates many fears concerning it. It is done by the analysis of the derivates development from their early stages known as standard products up to the complex structures called exotics wich are difficult both to value and to hedge. To prove the above mentioned thesis, the author analyses data show the dynamic rise of chosen derivatives turnover up to the world financial crisis of 2007 – 2009 and a slowdown caused by it. The paper leads to the conclusion that financial innovations should be developed, however they should be monitored by the suitable law and institutions in order not to get out of control.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
Knjiga se referira u Thomson ISI, EBSCO Publishing, EconPapers, Socionet. Dr.sc. Izabela Pruchnicka Grabias izvanredna je profesorica Warsaw School of Economics (Poljska) i vanjska je suradnica na projektu

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