Trust and trade
This paper presents a model demonstrating how trust affects the volume of trade in a society. There are two ways in which this happens. First, at minimum, societies need a certain level of trust in order to observe trading activity. Second, once this minimum condition is satisfied, the probability o...
- Autores:
-
Nupia Martínez, Oskar Andrés
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2009
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/8090
- Acceso en línea:
- http://hdl.handle.net/1992/8090
- Palabra clave:
- Trust
Volume of trade
Social capital
Contract enforcement
integración económica
Cooperación económica
Economía internacional
A13, D00, Z13
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Nupia Martínez, Oskar Andrésff3bf221-6263-4658-b439-b6aad08910b25002018-09-27T16:50:29Z2018-09-27T16:50:29Z20091657-5334http://hdl.handle.net/1992/80901657-719110.57784/1992/8090instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/This paper presents a model demonstrating how trust affects the volume of trade in a society. There are two ways in which this happens. First, at minimum, societies need a certain level of trust in order to observe trading activity. Second, once this minimum condition is satisfied, the probability of observing a larger volume of trade is high only if the level of trust is sufficiently high. Our results help explain empirical findings that demonstrate a positive relationship between trust and the volume of sales, or the value added of trade. The model also shows that institutions can compensate for low levels of trust-that is, societies with low levels of trust can achieve volumes of trade comparable to those of societies with high levels of trust by spending more resources on increasing the quality of the relevant institutions.Este artículo presenta un modelo que muestra cómo los niveles de confianza afectan los volúmenes de comercio en una sociedad. Existen dos formas a través de las cuales dicho mecanismo funciona. Primero, las sociedades necesitan un mínimo de confianza para que se puedan observar transacciones comerciales. Segundo, una vez éste mínimo nivel se cumple, la probabilidad de observar mayor número de transacciones es alta si el nivel de confianza es suficientemente alto. Estos resultados ayudan a explicar algunos resultado empíricos que han mostrado una relación positiva entre confianza y volumen de ventas o valor agregado del comercio. El modelo también muestra que las instituciones pueden compensar bajos niveles de confianza. Es decir, las sociedades con bajos niveles de comercio pueden lograr volúmenes de comercio comparables a los que poseen las sociedades con altos niveles de confianza si asignan una mayor cantidad de recursos en mejorar la efectividad de las instituciones.20 páginasapplication/pdfengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 03 Febrero de 2009https://ideas.repec.org/p/col/000089/005345.htmlTrust and tradeConfianza y comercioDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPTrustVolume of tradeSocial capitalContract enforcementintegración económicaCooperación económicaEconomía internacionalA13, D00, Z13Facultad de EconomíaPublicationTEXTdcede2009-03.pdf.txtdcede2009-03.pdf.txtExtracted texttext/plain46628https://repositorio.uniandes.edu.co/bitstreams/037bc3be-61bf-451b-98f6-9871a1664b01/download36ce04eff4c234261b90b7ddb34cafaeMD54THUMBNAILdcede2009-03.pdf.jpgdcede2009-03.pdf.jpgIM Thumbnailimage/jpeg2793https://repositorio.uniandes.edu.co/bitstreams/25236996-40a4-45b5-97b6-8b3d6d11ab4d/download4082ea6c9d29d03fbd98381bac0e4f96MD55ORIGINALdcede2009-03.pdfdcede2009-03.pdfapplication/pdf457572https://repositorio.uniandes.edu.co/bitstreams/3082de27-af37-4f9e-853a-f777f3caa91d/downloadd4664869b5929c8657ba6b85caeafcc8MD511992/8090oai:repositorio.uniandes.edu.co:1992/80902024-06-04 15:13:00.779http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
| dc.title.none.fl_str_mv |
Trust and trade |
| dc.title.alternative.none.fl_str_mv |
Confianza y comercio |
| title |
Trust and trade |
| spellingShingle |
Trust and trade Trust Volume of trade Social capital Contract enforcement integración económica Cooperación económica Economía internacional A13, D00, Z13 |
| title_short |
Trust and trade |
| title_full |
Trust and trade |
| title_fullStr |
Trust and trade |
| title_full_unstemmed |
Trust and trade |
| title_sort |
Trust and trade |
| dc.creator.fl_str_mv |
Nupia Martínez, Oskar Andrés |
| dc.contributor.author.none.fl_str_mv |
Nupia Martínez, Oskar Andrés |
| dc.subject.keyword.none.fl_str_mv |
Trust Volume of trade Social capital Contract enforcement |
| topic |
Trust Volume of trade Social capital Contract enforcement integración económica Cooperación económica Economía internacional A13, D00, Z13 |
| dc.subject.armarc.none.fl_str_mv |
integración económica Cooperación económica Economía internacional |
| dc.subject.jel.none.fl_str_mv |
A13, D00, Z13 |
| description |
This paper presents a model demonstrating how trust affects the volume of trade in a society. There are two ways in which this happens. First, at minimum, societies need a certain level of trust in order to observe trading activity. Second, once this minimum condition is satisfied, the probability of observing a larger volume of trade is high only if the level of trust is sufficiently high. Our results help explain empirical findings that demonstrate a positive relationship between trust and the volume of sales, or the value added of trade. The model also shows that institutions can compensate for low levels of trust-that is, societies with low levels of trust can achieve volumes of trade comparable to those of societies with high levels of trust by spending more resources on increasing the quality of the relevant institutions. |
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2009 |
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2009 |
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2018-09-27T16:50:29Z |
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2018-09-27T16:50:29Z |
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eng |
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Documentos CEDE No. 03 Febrero de 2009 |
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