Trust as the missing root of institutions, education, and development

Christian Bjørnskov and Pierre-Guillaume Méon

No 12-031, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: In the paper, we argue that trust is the missing link relating education, institutions, and economic development. We argue that increased trust both increases education and improves legal and bureaucratic institutions, which in turn spurs economic development. We substantiate this intuition with a series of regressions that show that trust determines both education and the quality of institutions, and that education and institutions in turn affect GDP per capita.

Keywords: Development; Social trust; Institutions; Education (search for similar items in EconPapers)
JEL-codes: O43 O47 O57 Z13 (search for similar items in EconPapers)
Pages: 34 p.
Date: 2012-10-24
New Economics Papers: this item is included in nep-evo and nep-soc
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