From trust to transformation: how institutional trust can drive local value chains and structural transformation

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Abstract

It is a privilege to present this policy note, ‘From Trust to Transformation: How Institutional Trust Can Drive Local Value Chains and Structural Transformation,’ at a time when geopolitical tension and political instability continue to impact commodity-dependent developing countries. From an economic perspective, two things strike one straightaway: first, the focus on institutions and the trust people have in them represents an opportunity to improve value addition along value chains. The second obvious feature is that if this trust in institutions is not strengthened, it can be accompanied by significant risks that warrant careful consideration.

In the remainder of this note, we explore why and how institutional trust is important, based on the reasonable assumption that building trust can drive local value chains. We offer brief lessons on how institutional trust enhances structural transformation in commodity-producing countries. For what it’s worth, our aim is to highlight how essential it is for policymakers to optimise the benefits of institutional arrangements in building resilient and diversified economies. We conclude by emphasising that addressing existing policy gaps and staying ahead of emerging challenges is crucial.
Original languageEnglish
Publication statusPublished - 14 Oct 2024
EventUnited Nations Conference Trade and Development (UNCTAD) 15th Multi-Year Expert Meeting on Commodities and Development - Room XVII, Palais des Nations, Geneva, Switzerland
Duration: 14 Oct 202416 Oct 2024
https://unctad.org/meeting/multi-year-expert-meeting-commodities-and-development-fifteenth-session

Conference

ConferenceUnited Nations Conference Trade and Development (UNCTAD) 15th Multi-Year Expert Meeting on Commodities and Development
Abbreviated titleUNCTAD 2024
Country/TerritorySwitzerland
CityGeneva
Period14/10/2416/10/24
Internet address

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