Aspects Regarding the Design and Development of Innovative Products for Risk Management

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Financial innovation represents a complex process of creation/invention and dissemination/diffusion of new instruments, technologies, institutions, and markets. The main functions that innovations perform are: moving funds, the pooling of funds, managing risk, extracting information to support decision-making, addressing moral hazard and asymmetric information problems, active support in sales and services through a payment system. Innovations, exemplified by new derivatives, securities, pooled investments, process innovations, expressed by new technologies of distributions or transactions are interdependent in the context of the evolutionary adaptation process.

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