Presidential Address: Does Finance Benefit Society?

• 成果类型: Article
• 署名作者: Zingales, Luigi
• 署名单位: University of Chicago; National Bureau of Economic Research; Centre for Economic Policy Research - UK
• 刊物名称: JOURNAL OF FINANCE
• ISSN/ISSBN: 0022-1082
• DOI: 10.1111/jofi.12295
• 发表日期: 2015
• 页码: 1327-1363
• 关键词: information; equilibrium; GROWTH; constraints; INVESTMENT; economists; education; banking; MARKETS; SELFISH

摘要

Academics' view of the benefits of finance vastly exceeds societal perception. This dissonance is at least partly explained by an underappreciation by academia of how, without proper rules, finance can easily degenerate into a rent-seeking activity. I outline what finance academics can do, from a research point of view and from an educational point of view, to promote good finance and minimize the bad.