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 …

finance becomes market-oriented, so that (3) affiliated firms are losing the special privilege of borrowing at a cheaper rate … asset-market arbitrage allowed the great run-up in equity and land prices in the 1980s …

) and stigma (the cost of having a bank's name revealed) are desirable to restore confidence. Lending facilities raise the …

. Although the study does not presume that finance is the most binding constraint to growth and socio-economic development in … banking sector today. Access to finance remains an important challenge, especially for the "stranded middle" (middle income … potentially boost competition, financial innovation, and access to finance with positive effects on growth and poverty reduction …