Who can be trusted after the financial crisis
Year: 2009
Type: preprint
Abstract: The financial crisis has severely damaged citizens’ trust in public institutions, especially the confidence that European citizens invest in the European institutions. Eurobarometer surveys show, for example, that confidence in the European Central Bank reached an historical low at the peak of the crisis during the first months of 2009. Since then one can observe a partial recovery, but it is not clear whether the previous level can be restored. A variety of other surveys also show that confidence levels in the free market economy have decreased in most of the largest economies and demand for stronger state regulation has increased on both sides of the Atlantic. The key question now is whether this loss of confidence is a temporary or permanent phenomenon, which would have important consequences for the economy and for the proper working of the European institutions.
Source: SSRN Electronic Journal
Author: Felix Roth
Institution: University of Göttingen
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1512975125