The functional perspective of financial innovation and real estate
Name
59760649-MIT.pdf
Description
Full printable version
Size
97.37 KB
Format
Adobe PDF
Checksum (MD5)
9a5c81b4f3e764bf49e23dbc4afed373
Author(s)
Murray, Trevor T., 1971-
Advisor(s)
Lynn Fisher.
Date Issued
2004
Publisher
Massachusetts Institute of Technology
Abstract
Two broad schools of thought dominate theories regarding financial innovation. One seeks to explain the process of security design in terms of relatively static organizations creating and promoting their wares and services competitively, generally in response to shifts in technology, taxes or regulation. The other approach stems from an understanding of the basic universal functions the financial system is called upon to deliver. I argue that the latter perspective is a more robust and adaptable framework for explaining the process of innovation. Furthermore, this functional perspective explains why cyclical shifts in certain sectors such as real estate stimulate the need for new and innovative financial products.
Description
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2004.
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (leaves 31-33).
Subjects
Urban Studies and Planning.
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Terms of Use
M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
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