{"id":119764,"date":"2024-01-22T22:42:31","date_gmt":"2024-01-22T21:42:31","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/119764\/"},"modified":"2024-11-07T05:07:54","modified_gmt":"2024-11-07T04:07:54","slug":"generalised-trust-institutional-and-political-constraints-on-the-executive-and-deregulation-of-markets","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/119764\/","title":{"rendered":"Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-119764","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"It is frequently claimed that high levels of generalised trust are conducive for economic reforms. In contrast, the \"traditional view\" on institutional and political constraints on the executive (IPCE) postulates that high IPCE tend to paralyse the decision-making process, thus blocking required policy changes. By stressing credibility issues of economic reforms and transaction cost for special interest groups, a more positive view however sees IPCE as potentially conducive to reforms. This paper empirically explores the significance of these claims for the case of economic deregulation. In particular, it elaborates on the hypotheses that IPCE do not impact on economic reforms in an environment of high generalised trust and that the positive impact of trust increases with the extent of IPCE. The results provide evidence in favour of the traditional view on IPCE. However, it is also shown that IPCE are an obstacle for economic policy liberalisation only in relatively low trusting environments. In contrast, a robust positive correlation of generalised trust with the extent of economic deregulation is isolated, and trust unfolds a particular strength with increasing levels of IPCE.","onlinedate":"2014-10-29 12:00:00","lang":"English","publication_series":"","publication_date":"20141001","publication_date_year":"","publication_date_full":false,"publication_num_pages":"45","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":355149,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"481","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2014-10-29 12:00:00","types":[44410],"research_groups":[3500],"collaboration":"","persons":[3737,3792],"persons_data":"[{\"personId\":3737,\"personName\":\"Markus Leibrecht\",\"organisationNames\":[]},{\"personId\":3792,\"personName\":\"Hans Pitlik\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Leibrecht, M.<\\\/span><span>, &amp; Pitlik, H.<\\\/span> (2014). <span>Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (481). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/49215\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/49215<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Leibrecht M<\\\/span><span>, Pitlik H<\\\/span>. <span class=\\\"title\\\"><span>Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2014 Oct;(481).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{b45d231b067c4ff086a097189397d423,<\\\/div><div>  title    = \\\"Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets\\\",<\\\/div><div>  abstract = \\\"It is frequently claimed that high levels of generalised trust are conducive for economic reforms. In contrast, the {\\\"}traditional view{\\\"} on institutional and political constraints on the executive (IPCE) postulates that high IPCE tend to paralyse the decision-making process, thus blocking required policy changes. By stressing credibility issues of economic reforms and transaction cost for special interest groups, a more positive view however sees IPCE as potentially conducive to reforms. This paper empirically explores the significance of these claims for the case of economic deregulation. In particular, it elaborates on the hypotheses that IPCE do not impact on economic reforms in an environment of high generalised trust and that the positive impact of trust increases with the extent of IPCE. The results provide evidence in favour of the traditional view on IPCE. However, it is also shown that IPCE are an obstacle for economic policy liberalisation only in relatively low trusting environments. In contrast, a robust positive correlation of generalised trust with the extent of economic deregulation is isolated, and trust unfolds a particular strength with increasing levels of IPCE.\\\",<\\\/div><div>  author   = \\\"Markus Leibrecht and Hans Pitlik\\\",<\\\/div><div>  note     = \\\"Generalised Trust, Institutional and Political Constraints ...\\\",<\\\/div><div>  year     = \\\"2014\\\",<\\\/div><div>  month    = oct,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets<\\\/p><p>AU  - Leibrecht, Markus<\\\/p><p>AU  - Pitlik, Hans<\\\/p><p>N1  - Generalised Trust, Institutional and Political Constraints ...<\\\/p><p>PY  - 2014\\\/10<\\\/p><p>Y1  - 2014\\\/10<\\\/p><p>N2  - It is frequently claimed that high levels of generalised trust are conducive for economic reforms. In contrast, the \\\"traditional view\\\" on institutional and political constraints on the executive (IPCE) postulates that high IPCE tend to paralyse the decision-making process, thus blocking required policy changes. By stressing credibility issues of economic reforms and transaction cost for special interest groups, a more positive view however sees IPCE as potentially conducive to reforms. This paper empirically explores the significance of these claims for the case of economic deregulation. In particular, it elaborates on the hypotheses that IPCE do not impact on economic reforms in an environment of high generalised trust and that the positive impact of trust increases with the extent of IPCE. The results provide evidence in favour of the traditional view on IPCE. However, it is also shown that IPCE are an obstacle for economic policy liberalisation only in relatively low trusting environments. In contrast, a robust positive correlation of generalised trust with the extent of economic deregulation is isolated, and trust unfolds a particular strength with increasing levels of IPCE.<\\\/p><p>AB  - It is frequently claimed that high levels of generalised trust are conducive for economic reforms. In contrast, the \\\"traditional view\\\" on institutional and political constraints on the executive (IPCE) postulates that high IPCE tend to paralyse the decision-making process, thus blocking required policy changes. By stressing credibility issues of economic reforms and transaction cost for special interest groups, a more positive view however sees IPCE as potentially conducive to reforms. This paper empirically explores the significance of these claims for the case of economic deregulation. In particular, it elaborates on the hypotheses that IPCE do not impact on economic reforms in an environment of high generalised trust and that the positive impact of trust increases with the extent of IPCE. The results provide evidence in favour of the traditional view on IPCE. However, it is also shown that IPCE are an obstacle for economic policy liberalisation only in relatively low trusting environments. In contrast, a robust positive correlation of generalised trust with the extent of economic deregulation is isolated, and trust unfolds a particular strength with increasing levels of IPCE.<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/119764\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/119764\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T04:07:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/119764\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/119764\\\/\",\"name\":\"Generalised Trust, Institutional and Political Constraints on the Executive and Deregulation of Markets - 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