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Trust, Ethics, Stock Market, and Economic Growth

In: Social Capital and Risk Sharing

Author

Listed:
  • Adam Ng
  • Abbas Mirakhor
  • Mansor H. Ibrahim

Abstract

By 2007, more than US$ 15 trillion was held by over 91 million individual investors in stocks and corporate bonds, either directly or through mutual and pension funds (Stout, 2010). These massive investments and financial markets could not have conceivably reached such a size had it not been for most people having trust in their investments and the common belief in others’ trustworthiness (Guiso et al., 2008). However, scandals associated with the 2007/2008 financial crisis have eroded trust in the financial system. As a result, the need to understand forces contributing to financial market development and instability has been placed at the center stage of global policy and academic discussions. A sound and stable financial system underpinned by strong institutional quality and social capital has become an object of search.

Suggested Citation

  • Adam Ng & Abbas Mirakhor & Mansor H. Ibrahim, 2015. "Trust, Ethics, Stock Market, and Economic Growth," Palgrave Studies in Islamic Banking, Finance and Economics, in: Social Capital and Risk Sharing, chapter 0, pages 91-113, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-1-137-47605-0_6
    DOI: 10.1057/9781137476050_6
    as

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