Financial Innovation in Retail and Corporate Banking (New Horizons in Money and Finance series)

This valuable book discusses in detail, through a blend of theory and empirical research, the processes of innovation and the diffusion of new financial instruments. The contributors explore theoretical issues such as the relationship among financial innovation and market structure and the legal protection of financial innovation. They examine various topics on retail banking, from payment services and procedures, consumer credit, loans, online mortgages and credit scoring to profitability of retail banking. This comprehensive book also focuses on innovation in corporate banking, such as credit derivatives and their implications for the relationship between banks and markets in financial systems. Title Page ......Page 4 Copyright......Page 5 Contents......Page 6 Contributors......Page 7 Acknowledgements......Page 9 Preface......Page 10 1. Financial innovation and the economics of banking and the financial system......Page 14 2. Is financial innovation still a relevant issue?......Page 54 3. Microfinance, innovations and commercialisation......Page 76 4. Technological innovation in banking: the shift to ATMs and implicit pricing of network convenience......Page 102 5. Financial innovation in internet banking: a comparative analysis......Page 124 6. How do internet payments challenge the retail payment industry?......Page 159 7. Intellectual property rights and standard setting in financial services: the case of the Single European Payments Area......Page 183 8. The regulatory and market developments of covered bonds in Europe......Page 212 9. Credit derivatives versus loan sales: evidence from the European banking market......Page 237 10. On the required regulatory support for credit derivative markets......Page 263 11. Innovation in trading activity: should stock markets be more transparent?......Page 295 Index......Page 340 This valuable book discusses in detail, through a blend of theory and empirical research, the processes of innovation and the diffusion of new financial instruments. The contributors explore theoretical issues such as the relationship between financial innovation and market structure and the legal protection of financial innovation. They examine various topics on retail banking, from payment services and procedures, trading online, internet banking and profitability of retail banking to microfinance. This comprehensive book also focuses on innovation in corporate banking, such as credit derivatives and their implications for the relationship between banks and markets in financial systems. This book will be invaluable to postgraduate students, researchers and academics with an interest in economics and finance and financial innovation in particular. Discusses Through A Blend Of Theory And Empirical Research, The Processes Of Innovation And The Diffusion Of New Financial Instruments. This Book Explores Theoretical Issues Such As The Relationship Among Financial Innovation And Market Structure And The Legal Protection Of Financial Innovation. Edited By Luisa Anderloni, David T. Llewellyn, Reinhard H. Schmidt. Includes Bibliographical References And Index.