Economic Analysis of Financial Product Innovation

Author: Yu Bo
Publisher:
Publish Date: 2004-09-01
Features: This book places financial product innovation within a division-of-labor social structure and examines it from a dynamic evolutionary perspective, establishing a general theoretical framework to explain the process of financial product innovation and development. Starting from the division-of-labor theory of classical and neoclassical economics, it derives the inherent developmental laws of mutual promotion between the evolution of division of labor and financial product innovation from both theoretical and historical angles. It analyzes the impact of knowledge accumulation and technological progress, which are co-evolved with institutional change and social division of labor, on financial product innovation, and also studies the Chinese context.