Trustworthiness and economic performance
نویسندگان
چکیده
Trustworthiness is the foundation for trust, institutions, and per capita output in society. Trustworthiness is primary – a society’s willingness to trust and the quality of its institutions have their origins in the trustworthiness of its citizens. Trustworthiness is therefore the basis for maximizing output in economic exchange and in explaining differences in standards of living around the world. We measure trustworthiness with a question from the World Values Survey and estimate its effect using a sample of 60 countries. We find that trustworthiness is important for output per capita and that any effect of trust is likely to come from trustworthiness. Our results are robust to alternative specifications. (JEL codes: O10, O40, O43, Z1) ∗We would like to thank participants of the Conference of the International Society for New Institutional Economics in Toronto, and the Economics Workshop at the University of South Carolina for helpful comments.
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