Trust and the Economy

Daniel Hernaiz Diez de Medina, Philip Keefer, Miguel Purroy and Diego Vera Cossio
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Daniel Hernaiz Diez de Medina: Inter-American Development Bank

Chapter 3 in Trust: The Key to Social Cohesion and Growth in Latin America and the Caribbean, 2022, pp 51-78 from Inter-American Development Bank

Abstract: Mistrust stifles growth. It inspires costly regulations, deters firms from expanding and from hiring the most capable individuals, and promotes the adoption of costly contractual arrangements that undermine competition, global value chains, and consumer welfare.

Keywords: Trust; Political Trust; Regulation; Labor Force; Public Policy; Economy; Civil Servants (search for similar items in EconPapers)
JEL-codes: D02 D23 D72 D73 D82 D91 H41 H83 O43 (search for similar items in EconPapers)
Date: 2022
ISBN: 978-1-59782-496-5
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Persistent link: https://EconPapers.repec.org/RePEc:idb:idbchp:11771-c3

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