Trust as a catalyst for regional growth in a decentralized Europe: The interplay between informal and formal institutions in driving economic growth
研究分析了21个欧盟国家208个区域的面板数据，发现信任与区域政府质量在促进经济增长上存在替代关系，但信任不影响分权程度的经济效应，为政策制定者提供了制度组合的新视角。
Abstract Empirical studies examining the interplay between informal and formal institutions on economic growth are scarce. As a result, we do not know how differences in trust affect the economic returns of the quality of regional governments and their autonomy. A panel regression analysis of 208 regions in 21 EU countries shows that informal and formal institutions matter for economic growth, individually and in combination. More specifically, trust substitutes the quality of regional government but does not affect the economic impact of its degree of decentralization. Therefore, policymakers need to think creatively about harnessing institutions to promote economic growth.