Hosted by: ESRC Centre for Analysis of Risk and Regulation (LSE) and the Social Studies of Finance Group (University of Edinburgh)
Date: 16-17 June 2005
Financial innovation is a key influence on the world economy, and has important consequences for the management of risk, for societies and for political systems. Yet it remains little studied outside of economics and business studies. The purpose of this meeting was to broaden our understanding of financial innovation by bringing to bear the wider perspectives of "social studies of finance," especially work based in the sociology of science and technology and in international political economy.
Donald MacKenzie kicked off the workshop with a paper arguing that finance theory has been an important catalyst of financial innovation (just as science is an important resource for technological innovation). Papers by Fabian Muniesa, Alex Preda, Daniel Beunza and Karin Knorr Cetina focused directly on the physical, technological, cultural and regulatory setting of financial innovation.
Mike Power, Boris Holzer and Yuval Millo explored innovation in risk management (including its unintended consequences), while Raghu Garud and Daniel Beunza examine the role of securities analysts as "frame makers." Layna Mosley and Iain Hardie broadened the discussion by looking at the interaction of financial markets, regulation, and political systems.
Daniel Beunza, Universitat Pompeu Fabra
Karin Knorr Cetina, University of Chicago
Raghu Garud, New York University
Iain Hardie, University of Edinburgh
Donald MacKenzie, University of Edinburgh
Yuval Millo, University of Essex
Layna Mosley, University of North Carolina
Fabian Muniesa, CSI, Ecole de Mines de Paris
Mike Power, CARR, LSE
Alex Preda, University of Edinburgh
Fernando Elichirigoity, University of Illinois at Urbana-Champaign
Andrea Mennicken, LSE
Tom Skwarek, Swiss Re
Yuval P Yonay, University of Haifa