Trust, Well-Being and Growth: New Evidence and Policy Implications

Yann Algan and Pierre Cahuc

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Abstract: 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; Well-being (search for similar items in EconPapers)
Date: 2014
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-01169659
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Citations: View citations in EconPapers (2)

Published in Aghion; Philippe; Durlauf; Steven N. Handbook of Economic Growth, Elsevier Science‎, pp.49-120, 2014, 9780444520418

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Working Paper: Trust, Well-Being and Growth: New Evidence and Policy Implications (2014)
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