Trust, Growth, and Well-Being: New Evidence and Policy Implications
Yann Algan and
Chapter 02 in Handbook of Economic Growth, 2014, vol. 2, pp 49-120 from Elsevier
This survey reviews the recent research on trust, institutions, and economic development. It discusses the various measures of trust and documents the substantial heterogeneity of trust across space and time. The conceptual mechanisms that explain the influence of trust on economic performance and the methods employed to identify the causal impact of trust on economic performance are reviewed. We document the mechanisms of interactions between trust and economic development in the realms of finance, innovation, the organization of firms, the labor market, and the product market. The last part reviews recent progress to identify how institutions and policies can affect trust.
Keywords: Trust; Growth; Economic development; Institutions (search for similar items in EconPapers)
JEL-codes: O11 O43 Z13 (search for similar items in EconPapers)
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Working Paper: Trust, Growth and Well-Being: New Evidence and Policy Implications (2013)
Working Paper: Trust, Growth and Well-being: New Evidence and Policy Implications (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:grochp:2-49
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