Financial Innovation and Global Economic Welfare: Past, Present and Future

NOBEL LAUREATE SEMINAR

Speaker: Robert C. Merton

Distinguished Professor of Finance
MIT Sloan School of Management
University Professor Emeritus
Harvard University
Winner of the Alfred Nobel Memorial Prize in Economic Sciences in 1997

Short Abstract

Financial innovation can materially impact the real economy, both in terms of efficiency gains and environmental sustainability. We examine financial innovation in the present in response to global aging demographics and major expansion in GDP in Asia. We then explore the growth opportunities and challenges for the financial-service industry from financial and technological innovation in the impending future. A case is presented that trust will be the innovation-implementation global business model in the future.