Financial Innovation.pptVIP

Financial Innovation 金融创新 * * 1.Categorization 2.Motivation ?The Economic Council of Canada ?The Bank of International Settlements ?Professor Stephen Ross ?market-broadening instruments 扩充市场工具 ?risk-management instruments 风险管理工具 ?arbitraging instruments and processes 套利工具与过程 ?price-risk-transferring innovations 价格风险转移创新 ?credit-risk-transferring instruments 信用风险转移创新 ?liquidity-generating innovations 增加流动性创新 ?credit-generating instruments 增加信用工具创新 ?equity-generating innovations 增加股权工具创新 New financial products Strategies ?Increased volatility of interest