Economics Research Institute Study Paper
Utah State University Department of Economics
Growth theory emphasizes capital accumulation and technological change or, as Romer  describes them, idea gaps and object gaps. This paper makes the case for a third and final crucial element: trust. Trust has both direct effects on the process of economic development, especially in facilitating increased exchange, and indirect effects through its influence on incentives to investment in human and physical capital (objects) and to the acquisition and processing of knowledge (ideas). Interpersonal trust is fundamental to economic development because irreversibilities, downside risk, and history-dependence are central features of most economic choice.
Barrett, Christopher B., "Idea Gaps, Object Gaps, and Trust Gaps in Economic Development" (1995). Economic Research Institute Study Papers. Paper 65.