Regulating Financial Innovation: A Multifaceted Challenge to Financial Stability, Consumer Protection, and Growth

Forthcoming, Oxford Handbook of Financial Regulation (Oxford University Press, 2015).

34 Pages Posted: 25 Jun 2014 Last revised: 4 Jun 2019

See all articles by Emilios Avgouleas

Emilios Avgouleas

University of Edinburgh - School of Law

Date Written: June 24, 2014

Abstract

The chapter reconceptualizes financial innovation. In this context, it discusses the risks of financial innovation and contemporary regulatory reforms addressing those risks. It provides a critique of contemporary reforms. Finally, it stresses the need for a new framework to regulate financial innovation to foster long-term growth and curb speculation. Regulation ought to focus on altering innovators' incentives through a properly balanced mix of incentives and sanctions.

Keywords: financial innovation, derivatives, securitisations, global financial crisis, shadow banking, Dodd Frank Act, MIFID II, MIFIR, EMIR

JEL Classification: F30, G15, G18, G10, G24, G28

Suggested Citation

Avgouleas, Emilios, Regulating Financial Innovation: A Multifaceted Challenge to Financial Stability, Consumer Protection, and Growth (June 24, 2014). Forthcoming, Oxford Handbook of Financial Regulation (Oxford University Press, 2015). . Available at SSRN: https://ssrn.com/abstract=2458335

Emilios Avgouleas (Contact Author)

University of Edinburgh - School of Law ( email )

Old College
South Bridge
Edinburgh, EH8 9YL
United Kingdom

Register to save articles to
your library

Register

Paper statistics

Downloads
783
Abstract Views
2,280
rank
30,474
PlumX Metrics