Article

Technological Change, Financial Innovation, and Diffusion in Banking

W. Scott Frame and Lawrence J. White

in The Oxford Handbook of Banking

Published in print January 2012 | ISBN: 9780199640935
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199640935.013.0019

Series: Oxford Handbooks in Finance

 Technological Change, Financial Innovation, and Diffusion in Banking

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This article describes how technological change has spurred financial innovations that have driven changes in commercial banking over the past twenty-five years. It reviews the literature on a large number of new banking technologies and synthesizes these studies in the context of the broader economics literature on innovation. This survey is US-centric, owing to the authors' own experiences, the fact that many financial innovations originate in the US, and that most studies of such innovations rely on US data. It begins with a discussion of the meaning of financial innovation.

Keywords: technological developments; banking technologies; commercial banking

Article.  9307 words. 

Subjects: Economics ; Financial Markets ; Public Economics

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