Regulating Financial Innovation: A Multifaceted Challenge to Financial Stability, Consumer Protection, and Growth

Research output: Working paper

Abstract

The chapter reconceptualizes financial innovation. In this context, it discusses the risks of financial innovation and contemporary regulatory reforms addressing those risks. It provides a critique of contemporary reforms. Finally, it stresses the need for a new framework to regulate financial innovation to foster long-term growth and curb speculation. Regulation ought to focus on altering innovators' incentives through a properly balanced mix of incentives and sanctions.
Original languageEnglish
PublisherUniversity of Edinburgh, School of Law, Working Papers
Number of pages40
Publication statusPublished - 24 Jun 2014

Publication series

NameAccepted Papers Series

Keywords

  • financial innovation
  • derivatives
  • securitisations
  • Global financial crisis
  • shadow banking
  • Dodd Frank Act
  • MIFID II
  • MIFIR
  • EMIR

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