The Cause,Trend and Characteristics of Modern Financial Innovation(Financial Developing)

The most typical characteristics of modern financial industry are financial innovation,financial liberalization and financial globalization,while financial innovation is the cardinal one.It began from the late 1960s' in developed countries and has changed the financial industry completely.With the continuous emergence of new financial tools,markets and institutions,the developing of financial globalization obtains strong technical support.On the other hand,the financial control releasing in developed countries and financial deepening or expanding in the developing countries gets main impetus.