There is almost no dispute about that in the past few decades there has been great, "dramatic", "fundamental", "revolutionary" changes in the world of finance, which many authors call the "new" financial "revolution". These changes have led to the modern financial world changed drastically, that is unrecognizably different from the one of the only 30 days - 50 years.
Increasingly, we meet the term "financial world". It is used as a synonym for Finance to refer to the fact that they gained greater individuality than they had before, when they been encompassed, too, eith the colloquial notion of "world money". However, the notion "World Money" and "World Finance", althoughi closely, not identical. But neither quite different: the world of money and financial world can be said to have been part of the same, but also that each of them is different (narrower and / or wider) than the other. Compiled term "World Money and Finance" is comprehensive, but it is enough pleonastic and thus not absolutely accurate.
Inhaltsverzeichnis (Table of Contents)
- Financial Revolution: A Controversial Concept
- The Modern Financial World
- Financial Revolution: A Global Phenomenon
- The Scope and Depth of Financial Transformation
- The Rise of New Financial Products
- The Impact of Deregulation
- The Global Financial System: A Reality or an Illusion?
- Beyond the Financial Revolution
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This article examines the concept of a "financial revolution" and explores whether the dramatic changes in the financial world over recent decades can be accurately characterized as such. The author analyzes different perspectives on this issue, drawing upon the works of prominent economists and researchers. Key themes covered in the article include:- The extent and nature of changes in the financial world
- The impact of deregulation and technological innovation
- The rise of new financial products and markets
- The emergence of a global financial system
- The limitations of a purely market-driven financial system
Zusammenfassung der Kapitel (Chapter Summaries)
The article explores the idea of a “financial revolution” in the modern world. The author argues that the changes in the financial world over recent decades have been dramatic and far-reaching but not necessarily revolutionary. The article analyzes the views of several prominent economists on this issue, including Robert C. Merton, Frederic Mishkin, and Martin Hellwig. These authors all agree that the financial landscape has undergone substantial transformation. The article highlights the significant changes in financial markets and institutions, particularly in the United States. These changes include the emergence of new financial products, the deregulation of financial markets, and the increasing influence of technology. The article also discusses the emergence of a global financial system, examining both the benefits and drawbacks of this development. It argues that the global financial system is far from a perfectly functioning system, as evidenced by the recent financial crisis. The article concludes by stressing the importance of understanding the complexities of modern finance and the need for a more holistic approach to financial regulation.Schlüsselwörter (Keywords)
The article focuses on key concepts and terms relevant to modern finance, including: financial revolution, financial innovation, deregulation, global financial system, financial markets, financial institutions, financial products, capital markets, financial stability, macroeconomic management, financial crisis. It also explores the impact of technological advancements and the role of international financial institutions.- Quote paper
- Professor Doctor Stanko Radmilovic (Author), 2013, Financial Revolution, rapid financial development. Would scientific authority mitigate premature praise?, Munich, GRIN Verlag, https://www.grin.com/document/267625
