Does Finance Benefit Society?

44 Pages Posted: 23 Jan 2015

See all articles by Luigi Zingales

Luigi Zingales

University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

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Date Written: January 2015

Abstract

Academics' view of the benefits of finance vastly exceeds societal perception. This dissonance is at least partly explained by an under-appreciation 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.

Keywords: financial development, financial integration, rent seeking

JEL Classification: G00, O43

Suggested Citation

Zingales, Luigi, Does Finance Benefit Society? (January 2015). CEPR Discussion Paper No. DP10350, Available at SSRN: https://ssrn.com/abstract=2554424

Luigi Zingales (Contact Author)

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National Bureau of Economic Research (NBER)

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Centre for Economic Policy Research (CEPR)

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