Economic preferences, trade and institutions

Arbeitspapier

We make use of a comprehensive trade panel data set that includes intra-national ows to identify the effect of national economic preferences - patience, risk attitude, negative reciprocity and pro-social preferences from the Global Preference Survey (GPS) - on external trade in a gravity approach, while still being able to crucially control for multilateral resistances by the proper fixed effects. We use a series of further identification approaches to compare the results and to disentangle channels for the impact of economic preferences on trade. We find that especially patience and risk aversion tend to foster external trade across the board. Additionally, we formally analyze the interaction effects of preferences and institutions. Our findings suggest that preferences may act as substitutes for bad formal institutions to some extent.

Angaben zum Objekt

• ISBN: 978-3-86304-353-7
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: DICE Discussion Paper ; No. 354

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Trade: General ; Empirical Studies of Trade ; Microeconomic Behavior: Underlying Principles ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Cultural Economics; Economic Sociology; Economic Anthropology: General
• Thema: Trade determinants ; Non-Tariff Barriers ; Economic preferences ; Sociocultural variation

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Steffen, Nico
• Ereignis: Veröffentlichung
• (wer): Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE)
• (wo): Düsseldorf
• (wann): 2020

Weitere Informationen

• Handle: http://hdl.handle.net/10419/226029
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ