Knowledge, Technology Adoption and Financial Innovation
نویسنده
چکیده
Why are new financial instruments created? Why are they needed and what purpose do they serve? This paper proposes the view that financial development arises as a response to the contractual needs of emerging technologies. Exogenous technological progress generates a demand for new financial instruments in order to share risk or overcome private information, for example. A model of the dynamics of technology adoption and the evolution of financial instruments that support such adoption is presented. Early adoption may be required for financial markets to learn the technology; once learned, financial innovation boosts adoption further. An implication of the analysis is the notion that financial development promotes economic growth only to the extent that it enhances the adoption of new technologies. JEL Codes: G20, N20, O30.
منابع مشابه
Determinants of Box Hive Promotion and Financial Benefits in Selected District Of Ethiopia
Though beekeeping is a common farming enterprise and income generating activity in Atsbi Wemberta district, and promotional efforts have been made to improve it, no systematic study has been undertaken to evaluate the promotional efforts and people’s response to it. The objectives of this study were to identify determinants of improved box hive adoption by the beekeepers; and to analyze financi...
متن کاملFactors influencing Open Innovation: Case of Knowledge-Based Companies in Oil and Gas Industry
Technological entrepreneurship at oil and gas knowledge-based companies plays an important role in the growth of societies by increasing the technological capacity of the economy through the production, transfer, and dissemination of technological products in todaychr('39')s competitive era. Due to the technology-oriented nature of the oil and gas industry and the high costs of its research and...
متن کاملFactors influencing Open Innovation: Case of Knowledge-Based Companies in Oil and Gas Industry
Technological entrepreneurship at oil and gas knowledge-based companies plays an important role in the growth of societies by increasing the technological capacity of the economy through the production, transfer, and dissemination of technological products in todaychr('39')s competitive era. Due to the technology-oriented nature of the oil and gas industry and the high costs of its research and...
متن کاملInnovation in Financial Services and Payments
Rapid innovation is changing the array of financial services and payment options available to customers. To examine the driving forces behind the surge of innovation and the adoption of new technology, the Payment Cards Center and the Research Department of the Federal Reserve Bank of Philadelphia hosted a conference on “Innovation in Financial Services and Payments” on May 16-17 of this year.
متن کاملDetermining the Factors Affecting the Acceptance of Social Cataloging Application and Its Adoption Rate based on Rogers' Diffusion of Innovation Theory at Chaharmahal and Bakhtiari Province’s Public Libraries
Purpose: The aim of this study is to determine the rate and the factors affecting the acceptance of social cataloging software by librarians of public libraries in Chaharmahal and Bakhtiari province based on Rogers's theory of diffusion of innovation. Design/methodology/approach: This research is a descriptive applied survey. The statistical population of the study includes all librarians wor...
متن کامل