The seemingly never ending scandals in the world of finance with their damaging effects on value and human welfare …

Does finance follow the real economy, or the other way around? This paper unites the two competing schools of thought …, for economies with high-quality institutions, the view that finance follows the real economy is essentially correct … of output. On the other hand, for economies with low-quality institutions, the view that finance is a key driver of the …

changes in investor trust, the model can account for the sharp decline of finance in the Great Depression, as well as its slow …We introduce the model of asset management developed in Gennaioli, Shleifer, and Vishny (2012) into a Solow … trust and encouraged growth of financial income …

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 …

designed to build their trust in financial institutions. We find that the intervention: (a) significantly increased trust in …