2007•Journal of Shandong Institute of Business and TechnologyRequires access
On the Evolution of Western Financial Innovation Theory
Shao Chuan-lin
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Abstract
This paper introduces the evolution process of financial innovation theory,from technical advancement theory to financial intermediary theory,furthermore,from financial intermediary theory to financial innovation theory.It also points out that it will be the development tendency to use game theory,behavior finance and experimental finance to explain financial innovation theory,with western mainstream macro-economics research developing to quantification and simulation.