Citation

Discussion Paper Details

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

Author(s): Yann Algan and Pierre Cahuc

Publication Date: July 2013

Keyword(s): growth, human development, institutions, trust and well-being

Programme Area(s): Development Economics, International Macroeconomics and Public Economics

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. We also document recent research on the impact of trust on human development and well-being. The last part reviews recent progress to identify how institutions and policies can affect trust and promote pro-social behaviors.

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Bibliographic Reference

Algan, Y and Cahuc, P. 2013. 'Trust, Growth and Well-Being: New Evidence and Policy Implications'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=9548