| 单词 | financial innovation |
| 释义 | financial innovation Changes in financial institutions, financial instruments, or business practices in the financial sector. Today's familiar practices, including the use of cheques, cash and credit cards, electronic fund transfers, futures and London International Financial Futures and Options Exchange markets and derivative were all innovations when they started. Other innovations have included abolition of fixed commissions and the introduction of screen-based stock exchange dealing, the blurring of the distinctions in the UK between banks and building societies, and the introduction of index-linked government debt. Financial innovation may introduce new dangers to financial stability until experience of new ways is accumulated; it also makes naïve use of statistical series a possible source of error by policy-makers if statistical procedures lag behind the way the real world system is run. |
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