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Determinants of Trust in Institutions in Times of Crisis: Survey‐Based Evidence from the European Union

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  • Konstantinos Drakos
  • Christos Kallandranis
  • Socrates Karidis

Abstract

We employ Eurobarometer micro‐level data on trust in institutions, in order to explore its determinants, considering socio‐demographic characteristics, and macroeconomic indicators. The main contribution of our analysis is the investigation of the potential impact of sovereign credit rating episodes and the adoption of bail‐out programmes. We find that trust in institutions is substantially eroded in countries that experience downgrade episodes and participate in fiscal adjustment programmes while it is significantly strengthened following credit rating upgrades.

Suggested Citation

  • Konstantinos Drakos & Christos Kallandranis & Socrates Karidis, 2019. "Determinants of Trust in Institutions in Times of Crisis: Survey‐Based Evidence from the European Union," Journal of Common Market Studies, Wiley Blackwell, vol. 57(6), pages 1228-1246, November.
    • Handle: RePEc:bla:jcmkts:v:57:y:2019:i:6:p:1228-1246
    DOI: 10.1111/jcms.12884
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    Cited by:

    1. Kerim Peren Arin & Juan A. Lacomba & Francisco Lagos & Ana I. Moro-Egido & Marcel Thum, 2021. "Socio-Economic Attitudes in the Era of Social Distancing and Lockdowns," CESifo Working Paper Series 8845, CESifo.
    2. Osei-Tutu, Francis & Weill, Laurent, 2023. "Individualism reduces borrower discouragement," Journal of Economic Behavior & Organization, Elsevier, vol. 211(C), pages 370-385.
    3. Angino, Siria & Secola, Stefania, 2022. "Instinctive versus reflective trust in the European Central Bank," Working Paper Series 2660, European Central Bank.
    4. Arin, K. Peren & Lacomba, Juan A. & Lagos, Francisco & Moro-Egido, Ana I. & Thum, Marcel, 2022. "Exploring the hidden impact of the Covid-19 pandemic: The role of urbanization," Economics & Human Biology, Elsevier, vol. 46(C).
    5. Samuel Mann & Nigel O’Leary & David Blackaby, 2022. "Sexual orientation, political trust, and same-sex relationship recognition policies: evidence from Europe," Public Choice, Springer, vol. 192(3), pages 331-355, September.
    6. Marcel Thum, 2021. "Landesweite Lockdowns, wirtschaftliche Wahrnehmung und politische Einstellungen in der Bevölkerung," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 28(02), pages 15-18, April.
    7. Toni Haastrup & Heather Macrae & Annick Masselot & Alasdair Young & Milford Soko & Richard G. Whitman, 2022. "Editing ‘Europe’: Reflections from Inside, Outside and Beyond," Journal of Common Market Studies, Wiley Blackwell, vol. 60(4), pages 853-866, July.

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