 Social trust: its concepts, determinants, roles, and raising ways. Chapter 1 in Social Trust and Economic Development, 2019, pp 19-49 from Edward Elgar Publishing Abstract: Recognizing the seriously low social trust in Korea, Chapter 1 discusses the concepts, types, determinants, roles of social trust via a literature review. From this review, it develops a working definition of social trust and the conceptual framework underlying this book, and provides the basis for public policy proposals to raise social trust. This book investigates the two constituents of social trust (interpersonal and institutional trust) separately, acknowledging their complementary relationship. This chapter discusses the positive relationship between social trust and economic development with supporting empirical evidence. They influence each other in a way of a virtuous- or vicious- circle. In addition, social trust is self-reinforcing, and low social trust induces people to lower their trust in others. Once low trust continues over an extended period, it becomes difficult to rebuild trust in society. A key point for policy makers is that they should pay consistent and adequate attention to emerging social issues as well as social trust. Keywords: Asian Studies; Business and Management; Economics and Finance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16629_1 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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