What is the impact of financial innovation products on the stability of the global economy

What is the impact of financial innovation products on the stability of the global economy

What is the impact of financial innovation products on the stability of the global economy?

 

 

 

Introduction.

Many economists have argued that financial innovations today offer little or no productivity benefit at all and th majority are a largely a matter of rent seeking (Krugman 2009). Others (e.g. Hosking and Jagger 2009) have argued that the impact of financial innovation products such as credit default swaps, and other contemporary ones on the global economy has been negative with many others blaming them on the 2008 financial crisis (Volcker 2009). This essay will thus examine the impact of financial innovation products on the stability of the global economy.

 

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