This valuable book discusses in detail, through a blend of theory and empirical research, the processes of innovation and the diffusion of new financial instruments.

In the decades preceding the Great Crisis of 2007-2009, banking systemsunderwent a profound transformation, progressively moving awayfrom a type of banking centred on personal relationships towards onebased on more standardised and impersonal rapport. It was thought that,through this...

1. Financial innovation and the economics of banking and the financial system / David T. Llewellyn -- 2. Is financial innovation still a relevant issue? / Luisa Anderloni and Paola Bongini -- 3. Microfinance, innovations and commercialisation / Reinhard H. Schmidt -- 4. Technological innovation...

This book investigates the merits of a diverse banking system with a special focus on the performance and role of cooperative banks in seven European countries where they are prominent (Austria, Finland, France, Germany, Italy, the Netherlands and Spain). The theoretical and empirical arguments...