The Nature of financial innovations : a post-Schumpeterian analysis

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2013
Bulgurluoğlu, Pelin
This thesis analyzes the nature of financial innovations by taking a post-Schumpeterian approach. The aim of this thesis is to show that Schumpeter’s analysis of entrepreneurial innovation, which takes place in the real economy, proposes also a theoretical framework for understanding the dynamics of financial innovations. Therefore, it suggests that Schumpeterian notion of innovation can be used as a guide in analyzing the dynamics of financial innovations today. In this respect, through the analysis of financial innovations, this thesis should be considered as a post-Schumpeterian description of the evolution of the capitalist system.