RuEn

Journal section "Development strategy"

Anti-innovations as a factor of macroeconomic instability (the case of derivative financial instruments)

Shcherbakov G.A.

4 (22), 2012

Shcherbakov G.A. Anti-innovations as a factor of macroeconomic instability (the case of derivative financial instruments). Economic and Social Changes: Facts, Trends, Forecast, 2012, no. 4 (22). URL: http://esc.vscc.ac.ru/article/321?_lang=en

Abstract   |   Authors   |   References
The theory of innovative economic development is based on the concept of “innovation”, which implies novelties that have a progressive impact on the development of a society. At the same time, human ingenuity often goes beyond the limits of public interest, giving birth to an intellectual product, which is not directly linked to the public progress. In this regard, such notions as “pseudo-innovation” and “anti-innovation” emerge, which transfer innovative topics from their constructive interpretation to their critical perception. Using the examples of derivative financial instruments, the article describes the process of transforming the innovation implemented to increase market reliability into its opposite, i.e. a significant factor of creating instability of modern financial markets

Keywords

innovation; innovative development; financial markets

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