Social trust and productivity: evidence from European NUTS-2 regions
利用欧洲社会调查的信任数据和新建的NUTS-2全要素生产率数据，发现社会信任与区域生产率之间存在稳健的正相关关系，信任通过提升协调合作、降低交易成本等效率渠道促进生产率。
Social trust is widely recognised as an important intangible asset shaping macroeconomic performance, yet the channels through which it operates remain imperfectly understood. This study examines its role in explaining regional productivity differences across Europe since 2008. Using survey-based trust measures from the European Social Survey (ESS) and newly constructed NUTS-2 total factor productivity data, we find a robust and statistically significant positive association between trust and productivity. The results are consistent with trust enhancing productivity through economy-wide efficiency effects, such as improved coordination, cooperation and reduced transaction costs, underscoring its relevance for addressing persistent productivity stagnation.