Financial Innovation and Indices: A Perspective on Financial Innovation
3 Pages Posted: 20 Aug 2005
This article is a review of the role and importance of stock indices in encouraging and supporting financial innovations over the last 40 years. The analysis highlights the role of indices, financial engineering, statistical analysis, and the development of modern computing. It is based on an address at a conference on Financial Innovation sponsored by Rutgers University, New York City, November, 2004.
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