Innovations can be misapplied or carried to excesses for a variety of reasons – greed, wrong beliefs or sheer inability to anticipate consequences. 21. Let me illustrate this with an example from the financial sector. Use of quantitative techniques in finance has been a game changing innovation. It contributed enormously to the growth of the financial sector.
In addition to the scope that may thus be given to our financial market by fetching international derivative trades to our shores, we will be gradually building up, among business operators, core skills that accompany the development of the derivatives market in general.