DO NOT POST ON WEBSITE:One of the most important contributions that high-finance people talk about is financial innovation, which includes things like securitization, creation of derivatives, risk...

One of the most important contributions that high-finance people talk about is financial
innovation, which includes things like securitization, creation of derivatives, risk
management and hedging, and finding innovative ways of capital management. Many
people claim that no country can prosper without a great financial system. But after the
2008 financial crisis, these claims have been disputed by many people too. Provide a
thoughtful discussion on the following topic: Does financial innovation help economic
growth?
Solution:
Financial innovation can be termed as the introduction of new financial products and processes
along with a strong focus on technology and computers in the financial system which helps in
revolutionizing the delivery of financial services. It focuses on the introduction of the new
product or feature in the financial market. All the financial innovations aim in providing
operational as well as economical excellence.
Financial innovation has helped in increasing the material wellbeing as well as it has helped the
individuals to attain different economic goals efficiently. It has helped in increasing...