Trust and Financial Crisis Experiences
Jakob de Haan () and
DNB Working Papers from Netherlands Central Bank, Research Department
Using eight annual surveys from the Netherlands between 2006 and 2013, we examine whether financial crisis experiences affect trust in banks, trust in the banking supervisor, and generalized trust. Adverse experiences during the financial crisis do not only directly lower trust in banks, but also have a negative effect on generalized trust. Customers of a bank that ran into problems have less trust in banks than respondents without this experience. Our results also indicate that respondents who were customer of a bank that failed have a significantly stronger decline of generalized trust than respondents without this experience. Personal financial crisis experiences do not have a significant effect on trust in the banking supervisor.
Keywords: trust; bank bailout; bank failure; financial crisis; households; survey data (search for similar items in EconPapers)
JEL-codes: D10 D84 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba and nep-soc
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Journal Article: Trust and Financial Crisis Experiences (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:dnb:dnbwpp:389
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