Knowledge, Technology Adoption and Financial Innovation
- Subject: Technology adoption; financial innovation; learning | Technology adoption, financial innovation, learning.
- jel: jel:G20 | jel:N20 | jel:O30
Why are new financial instruments created? This paper proposes the view that financial development arises as a response to the contractual needs of emerging technologies. Exogenous technological progress generates a demand for new financial instruments in order to share... View more