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How Does Social Trust Affect Economic Growth?

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Author Info

  • Bjørnskov, Christian

    () (Department of Economics, Aarhus School of Business)

Abstract

This paper connects two strands of the literature on social trust by estimating the effects of trust on growth through a set of potential transmission mechanisms directly. It does so by modelling the process using a three-stage least squares estimator on a sample of countries for which a full data set is available. The results indicate that trust affects schooling and the rule of law directly. These variables in turn affect the investment rate (schooling) and provide a direct effect (rule of law) on the growth rate. The paper closes with a short discussion of the relevance of the findings.

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File URL: http://www.hha.dk/nat/wper/06-2_CB.pdf
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Bibliographic Info

Paper provided by University of Aarhus, Aarhus School of Business, Department of Economics in its series Working Papers with number 06-2.

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Length: 44 pages
Date of creation: 04 May 2006
Date of revision:
Handle: RePEc:hhs:aareco:2006_002

Contact details of provider:
Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark
Phone: +45 89 486396
Fax: +45 8615 5175
Web page: http://www.asb.dk/departments/nat.aspx
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Related research

Keywords: Growth; Trust; Transmission mechanisms;

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References

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  1. Greif, Avner, 1994. "On the Political Foundations of the Late Medieval Commercial Revolution: Genoa During the Twelfth and Thirteenth Centuries," The Journal of Economic History, Cambridge University Press, vol. 54(02), pages 271-287, June.
  2. Weede, Erich & Kampf, Sebastian, 2002. "The Impact of Intelligence and Institutional Improvements on Economic Growth," Kyklos, Wiley Blackwell, vol. 55(3), pages 361-80.
  3. Wacziarg, Romain, 2000. "Measuring the Dynamic Gains from Trade," Research Papers 1654, Stanford University, Graduate School of Business.
  4. Temple, Jonathan R. W., 2001. "Generalizations that aren't? Evidence on education and growth," European Economic Review, Elsevier, vol. 45(4-6), pages 905-918, May.
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Cited by:
  1. Thomas Farole & Andrés Rodríguez-Pose & Michael Storper, 2007. "Social capital, rules, and institutions: A cross-country investigation," Working Papers 2007-12, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  2. Roman Horváth, 2012. "Does Trust Promote Growth?," Working Papers IES 2012/09, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Apr 2012.
  3. Fabio Sabatini, 2009. "The relationship between trust and networks. An exploratory empirical analysis," Economics Bulletin, AccessEcon, vol. 29(2), pages 661-672.
  4. Matear, Margaret & Dacin, Peter A., 2010. "Marketing and societal welfare: A multiple stakeholder approach," Journal of Business Research, Elsevier, vol. 63(11), pages 1173-1178, November.
  5. Jesús Peiró-Palomino & Anabel Forte Deltell, 2013. "Does social capital matter for European regional growth?," Working Papers 2013/02, Economics Department, Universitat Jaume I, Castellón (Spain).

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