Financial innovation: the bright and the dark sides

• Main Authors: Beck, Thorsten, Chen, Tao, Lin, Chen, Song, Frank M.
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2018
• Subjects: Financial Innovation; Securitization
• Online Access: https://hdl.handle.net/10356/81685; http://hdl.handle.net/10220/45072
• Institution: Nanyang Technological University

Based on data from 32 countries over the period 1996-2010, this paper is the first to assess the relationship between financial innovation, on the one hand, and bank growth and fragility, as well as economic growth, on the other hand. We find that different measures of financial innovation, capturin...