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Financial Innovation: The Last Twenty Years and the Next

Published online by Cambridge University Press:  06 April 2009

Merton H. Miller
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Abstract

The word revolution is entirely appropriate for describing the changes in financial institutions and instruments that have occurred in the past twenty years. The major impulses to successful financial innovations have come from regulations and taxes. The outlook for the future is for a slowing down of the rate of financial innovation, but much growth and improvement are still in prospect.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 21 , Issue 4 , December 1986 , pp. 459 - 471
Copyright
Copyright © School of Business Administration, University of Washington 1986

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References

REFERENCES

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