Discussion of Financial Innovation: What Have We Learnt?

Abstract

Messrs Jenkinson, Penalver and Vause have furnished the reader with a very good review of the benefi ts of fi nancial innovation and some of the barriers to the fulfi llment of the ‘complete markets’ vision of fi nance. In the midst of a crisis that is shaking the fi nancial sector to its foundations, it is useful and refreshing to be reminded of what the… (More)

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