scholarly paper
Academic publishing is the subfield of publishing which distributes academic research and scholarship. Most academic work is published in academic journal articles, books or theses. The part of academic written output that is not formally pub ...
by
Jean-Louis Arcand
Jean-Louis Arcand (born 1964) is a Canadian economist. He is a professor of International Economics at the Graduate Institute of International and Development Studies in Geneva, where he also head of the PhD Development Economics programme. Arca ...
Ugo Panizza
Ugo Panizza is an Italian economist. He is a professor of International Economics and Pictet Chair in Finance and Development at the Graduate Institute of International and Development Studies in Geneva. He is a vice-president of the Centre for E ...
. The paper was originally described in a 2011
VoxEU
The Centre for Economic Policy Research (CEPR) is an independent, non‐partisan, pan‐European non‐profit organisation. Its mission is to enhance the quality of policy decisions through providing policy‐relevant research, based soundly in e ...
column, in 2012 it was issued as
IMF
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
working paper, and in 2015 was published by the
Journal of Economic Growth
The ''Journal of Economic Growth'' is a peer-reviewed academic journal covering research in economic growth and dynamic macroeconomics. It was established in 1996 and is published by Springer Science+Business Media.
Time Magazine
''Time'' (stylized in all caps) is an American news magazine based in New York City. For nearly a century, it was published weekly, but starting in March 2020 it transitioned to every other week. It was first published in New York City on Mar ...
featured the article 'Bankers: Who Needs Them?', based on the working paper. The article features the same quote by
James Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers and consulted with the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities. He devel ...
as the working paper:
It further cites one of the authors,
Ugo Panizza
Ugo Panizza is an Italian economist. He is a professor of International Economics and Pictet Chair in Finance and Development at the Graduate Institute of International and Development Studies in Geneva. He is a vice-president of the Centre for E ...
who summarizes the working paper as:
On 26 September 2012 the BBC World Service programme Business Daily interviewed one of the authors -
Ugo Panizza
Ugo Panizza is an Italian economist. He is a professor of International Economics and Pictet Chair in Finance and Development at the Graduate Institute of International and Development Studies in Geneva. He is a vice-president of the Centre for E ...
- on the issue of too much finance for a broadcast on the rise of digital currencies.
On May 26, 2015, the
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
published a widely read column by
Martin Wolf
Martin Harry Wolf (born 16 August 1946 in London) is a British journalist of Austrian-Dutch descent who focuses on economics. He is the associate editor and chief economics commentator at the ''Financial Times''.
Early life
Wolf was born in ...
that discusses the original findings of the "Too much finance?" paper, as well as more recent research by the
Bank of International Settlements
The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks".
The BIS carries out its work thr ...
and
IMF
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
which supports these findings. The
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
article labels the authors of "Too Much Finance?" as
IMF
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
researchers. However, only Berkes was at the IMF when the paper was originally written, Arcand and Panizza are professors of Economics at the
Graduate Institute
The Graduate Institute of International and Development Studies, or the Geneva Graduate Institute (french: Institut de hautes études internationales et du développement), abbreviated IHEID, is a government-accredited postgraduate institution ...
in
Geneva
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaki ...