7Allen, F. &D. Gale, 1991 : "Arbitrage, short sales, and financial innovation", Eeonometriea 59 : 1041 - 68.
8Bhattacharyya, S. & V. Nanda, 2000: "Client discretion, switching costs, and fmaneial innovation", Review of Financial Studies 13(4) : 1101 - 27.
9Boot, W.A.& A. V.Thakor, 1995 :"Banking scope,financial innovation,and the evolution of the financial system" ,Center for Economic Policy Researeh,Discussion Paper: 1237.
10Diamond, D., 1984: Financial Intexmediation and delegated monitoring. Review of Economic Studies 51, 393-414.