Financial Innovations in International Financial Markets

77 Pages Posted: 18 Jul 2000 Last revised: 23 Sep 2010

See all articles by Richard M. Levich

Richard M. Levich

New York University (NYU) - Department of Finance; National Bureau of Economic Research (NBER)

Date Written: June 1987

Abstract

The central theme of this paper is that financial innovation has become a major force effecting the United States and other developed economies. The common features of the process include product innovation, securitization, liberalization of domestic financial market practices, globalization of markets, and increased competition among financial institutions. The paper offers a review of the product and process changes that have occurred in international financial markets, an analysis of the factors leading to these changes, and an examination of the implications for both financial market participants and macroeconomic policy makers.

Suggested Citation

Levich, Richard M., Financial Innovations in International Financial Markets (June 1987). NBER Working Paper No. w2277. Available at SSRN: https://ssrn.com/abstract=236557

Richard M. Levich (Contact Author)

New York University (NYU) - Department of Finance ( email )

Stern School of Business
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212-998-0422 (Phone)
212-995-4256 (Fax)

National Bureau of Economic Research (NBER)

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