Ask not what your country can do for you': Legacies of the Great Recession and the consequences of the 'trust crisis

Alia Aghajanian, Rute Martins Caeiro, Eva-Maria Egger, Patricia Justino and Maria Lo Bue

No wp-2023-111, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper investigates how persistent changes in trust caused by the Great Recession have affected how governments and citizens across Europe responded to the next global crisis: the COVID-19 pandemic. We show that increases in individualism and mistrust towards institutions caused by individual exposure to the 2007-08 global financial crisis across European regions shaped citizens' responses to public health policies to curtail the spread of the COVID-19 pandemic almost 15 years later.

Keywords: Trust; Social contract; Recession; Europe; Public health; COVID-19 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-eec, nep-hea and nep-soc
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2023-111

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