THE EFFECT OF REDISTRIBUTIVE POLICY ON POLITICAL TRUST

8/14/2019 THE EFFECT OF REDISTRIBUTIVE POLICY ON POLITICAL TRUST

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THE EFFECT OF REDISTRIBUTIVE POLICY ON POLITICAL TRUST:

THE EUROZONE CRISIS, BAILOUTS, AND

PUBLIC TRUST IN EU INSTITUTIONS

David M. Cappella

S!"i##ed i$ pa%#ial &l&ill"e$# '& #(e

%e)i%e"e$#* &'% Depa%#"e$#al H'$'%* i$

#(e Depa%#"e$# '& P'li#i+al S+ie$+eTea* C(%i*#ia$ U$ive%*i#-

F'%# '%#(, Tea*

N've"!e% /, 0123


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ABSTRACT

Ove% #(e pa*# &e4 de+ade*, p'li#i+al #%*# (a* !e+'"e a$ i$+%ea*i$5l- i"p'%#a$# #'pi+ &'% *#die* i$p!li+ a##i#de* a$d de"'+%a+ie*. T(i* %e*ea%+( pape% p%e*e$#* a )ali#a#ive a$al-*i* '& #(e E%' C%i*i*,

de#e%"i$i$5 4(e#(e% #(e "l#iple *++e**i'$ '& %edi*#%i!#ive p%'5%a"* 6!ail'#* a$d +e$#%al !a$7epa$*i'$a%- p'li+-8 (ad a$ i"pa+# '$ #%*# va%ia#i'$ i$ EU i$*#i##i'$*. I$ de#e%"i$i$5 #%*# va%ia#i'$, #(e

li#e%a#%e e"p(a*i9e* #(e 5e$e%al i"p'%#a$+e '& ide$#i#- 6+l#%al +'$#e#8 a* 4ell a* #(e *pe+i&i+ i$&le$+e

'& *'+ie#al values i$*#i##i'$alperformance affect a$d #(e %ei$&'%+i$5 %'le '& media. T(e*e &'%

di"e$*i'$* '& #%*# a%e devel'ped i$#' +a*al "e+(a$i*"* a+#i$5 #(%'5( %edi*#%i!#ive p'li+- #' i$i#ia#e ad'4$4a%d #%e$d i$ EU i$*#i##i'$al #%*#.

I# i* &'$d #(a# a# #(e E%'9'$e level a$d #(e +'$#%- level '& ;e%"a$- $'# '$l- (a* #%*# de+li$edd%i$5 #(e E%' C%i*i*, !# %edi*#%i!#ive p'li+- i* a leadi$5 +a*e

RESEARCH DESI;N ........................................................................................................ ?@

RESULTS FOR HYPOTHESIS I: LININ; TRUST AND THE EURO CRISIS ........... ?.RESULTS FOR HYPOTHESIS II: LININ; RP AND TRUST

ITHIN ;ERMANY ......................................................................................................... ..23P%eli"i$a%- Re*l#* 6E%'!a%'"e#e%8 ....................................................................... 23

Va%ia#i'$ '& T%*# P%'ie* 6;e%"a$ P!li+ Opi$i'$ P'll*8 ...................................... 2>

E%' C%i*i* Redi*#%i!#ive P'li+- a$d T%*# .............................................................. 2

C'$#e$# A$al-*i* i$ ;e%"a$-: Fi$di$5 Ca*al Me+(a$i*"* ............................. ?...01CONCLUSION ...................................................................................................................... 02

REFERENCES ....................................................................................................................... 00


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INTRODUCTION

Si$+e #(e ;l'!al Fi$a$+ial C%i*i* i$ 011, E%'pe (a* $de%5'$e "l#iple e+'$'"i+ +%i*e* i$ #(e!a$7i$5 a$d &i$a$+ial *e+#'%*, #(e %eal e+'$'"-, a$d p!li+ &i$a$+e*. T(e la##e% (a* p%'ve$ #' !e #(e "'*#

el*ive &'% E%'pea$ leade%* #' +'$vi$+i$5l- add%e** #(%ea#e$i$5 a$ i""i$e$# !%ea7


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#(e deepe% a$d "'%e *#a!le +'$+ep# '& *'+ie#al ide$#i#-.

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!# d'e* $'# $e+e**a%il- e$#ail +'""$i#a%ia$ vale* %a#(e% i# i$+lde* #(e "'%e pe%"a$e$# '#+'"e '&ea%l- devel'p"e$# i$+ldi$5 pa%e$#al i$&le$+e. S+('la%* (ave #e%"ed p'li#i+al a##i#de* *'lidi&ied ea%l- i$

li&e G*-"!'li+, #(i* e$+'"pa**e* pa%#i*a$*(ip, ide'l'5-, a$d a##i#de* #'4a%d *'+ial 5%'p* 6He#(e%i$5#'$

011>, / %'*$i+7 228. (ile %ela#ivel- +'$*#a$#, #(e*e +'%e ide$#i#- a##i#de* (ave a p%'&'$d i$&le$+e

'$ le** *#a!le +'$+ep#* li7e p'li#i+al #%*#.Ide$#i#- al*' i$+lde* +ivil *'+ie#- l'$5 #e%" #%e$d*: i$+ldi$5 #%adi#i'$al *7ep#i+i*", p'*#"a#e%ial

vale* 6O%%e$ 2@, I$5le(a%# 2@8, a$d +ivi+ $a#i'$ali*" 6Fli5*#ei$ e# al 0120, 2208. He%e ide$#i#- i*a**e**ed #' de#e%"i$e i#* (i*#'%i+ a$d l'$5*#a$di$5 +(a%a+#e%i*#i+*. P%'"i$e$# i$ *+( evala#i'$ a%e vale*,

4(i+( *e%ve #' di%e+#l- li$7 ide$#i#- a$d #%*#. Vale* a%e *'+iall- *(a%ed 5'al* a$d *#a$da%d* 4(i+( %e5la#ea$d i$&'%" a+#i'$ 6B%ai#(4ai#e 2, /8 a$d #(e%e&'%e +'"p%i*e a *i5$i&i+a$# p'%#i'$ '& a$ i$dividal*

evala#i'$ '& a$ i$*#i##i'$* #%*#4'%#(i$e**.

T(e%e i* +'$*ide%a!le *+('la%l- 4'%7 *pp'%#i$5 #(e %ela#i'$*(ip !e#4ee$ ide$#i#- a$d #%*#.

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+'%%'!'%a#e #(i* vie4, "'deli$5 a +%vili$ea% %ela#i'$*(ip !e#4ee$ pa%#i*a$*(ip a$d #%*# 4(e%ei$ #(e "'*#

pa%#i*a$ #e$d #' !e "'*# di*#%*#&l '$ !'#( e$d* '& #(e p'li#i+al *pe+#%". T(i* allde* #' #(e i$&le$+e '&

ide$#i#- '$ #%*#, e*pe+iall- i$ #(e +'$#e# '& i$+%ea*ed p'la%i9a#i'$ '& pa%#ie*. F%'" #(e li#e%a#%e i# +a$ !e*ee$ #(a# ide$#i#- e*#a!li*(e* #(e +'$#e# '& #%*# %ela#i'$*4i#(i$ #(i* +'$#e# "'%e *pe+i&i+ evala#i'$* a%e

"ade.E=PLAININ; TRUST VARIATION

Ha%di$ divide* #(e +'$+ep# '& #%*# i$#' #(%ee evala#ive +a#e5'%ie* i$ #(e li#e%a#%e: "'%al+'""i#"e$#*, e$+ap*la#ed i$#e%e*# a++'$# a$d p*-+('l'5i+al di*p'*i#i'$ 6Ha%di$ 011, 2@8. T(e%e a%e

*eve%al *i5$i&i+a$# depa%#%e* I "a7e &%'" Ha%di$ !# I d' *#a- 4i#(i$ #(e*e #(%ee !%'ad 5e$e%ali9a#i'$*

4(i+( +a$ !e *++i$+#l- *#a#ed (e%e a* values,performance, a$d affect;I &%#(e% add #(e e&&e+# '& media '$

#%*# a* a &'%#( di"e$*i'$ '& #%*# evala#i'$. T(e "ea*%e"e$# '& i$*#i##i'$al #%*# (a* !ee$ +%i#i+i9ed &'%i#* (eav- %elia$+e '$ '%di$al level *%ve- da#a a$d di+('#'"'* "ea*%e"e$#* 4(i+( %i*7 "i*+a#e5'%i9a#i'$

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!ei$5 a*7ed i$ #(e *%ve-.

Values

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*(e d'e* #(e'%e#i+all- +'$$e+# +'""$al #%*# $'%"* a$d (a%"'$- vale* 6+''pe%a#i'$, pea+e, ("a$di5$i#-, e)ali#-, e$vi%'$"e$#8 a* 4ell a* e+(a$5e #%*# $'%"* a$d *e+%i#- vale* 6p%'#e+#i'$, e+'$'"i+

devel'p"e$#, %le '& la4, $a#i'$al 5%ea#$e**8 6/8. I& a$ i$*#i##i'$ i* #%*#ed al'$5 '$e *e# '& $'%"*, -e#

a+#all- ad(e%e* #' a di&&e%e$# *e# '& $'%"*, #(a# i$*#i##i'$ 4ill #e$d #' !e di*#%*#ed 6de*pi#e i#*

pe%&'%"a$+e8.M'%e &$da"e$#all-, T-le%* 628 +'$+ep# '& *'+ial #%*#J e$#ail* #(a# *'+iall- de#e%"i$ed a$d

*(a%ed $'%"* de#e%"i$e #(e e#e$# #' 4(i+( i$dividal* dee" a$ i$*#i##i'$ #%*#4'%#(-.


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O#(e% *'+ie#al vale* e"!edded i$ ide$#i#- +a$ (ave *i5$i&i+a$# e&&e+#* '$ #%*#. T(e*e +'ld i$+lde a

de*i%e &'% a +e%#ai$ !ala$+e '& p'4e% !e#4ee$ i$*#i##i'$* '% a +'$#e%vaili$5 e&&e+#, a* #(e A"e%i+a$ *-*#e"4a* i$#e$ded #' !e !- &'$de% Ka"e* Madi*'$ 6Lip*e# a$d S+($eide% 23, 0>8. Ci#%i$ 62@/8 e"p(a*i9e*

#(e %'le '& +'""'$ p'li+- 5'al* 4(i+( #%a$*+e$d pa%#i*a$ di*#i$+#i'$* 6*+( a* "a$a5i$5 $e"pl'-"e$#a$d i$&la#i'$8, lea$i$5 #'4a%d a "'%e G%i#ali*#i+ $de%*#a$di$5 '& #%*# &'%"a#i'$. O%%e$ 62@8 ide$#i&ie*

Gp%'!i#-, '% p!li+ 'pi$i'$ '$ e#(i+al i**e*, a* a$ i"p'%#a$# +'"p'$e$# '& *('%# #e%" #%*# &'%"a#i'$. O&

#(e &'% #%*# di"e$*i'$*, vale* a%e #(e +l'*e*# #' ide$#i#-


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Media

(ile vale*, pe%&'%"a$+e, a$d a&&e+# +'"p'*e a *!*#a$#ive !a*i* &'% #%*# va%ia#i'$, a &'%#( &a+#'%

pla-* a$ i$depe$de$# %'le i$ a+#iva#i$5 #(e '#(e% #(%ee di"e$*i'$* 4i#(i$ #(e p*-+(e. P!li+ "edia *'%+e*(ave !ee$ i$di+a#ed !- "l#iple *+('la%* a+%'** di*+ipli$e* #' (ave a p%'$'$+ed e&&e+# '$ p'li#i+al #%*#

6C'le"a$ 2 Ci#%i$ a$d ;%ee$ 2 Lip*e# a$d S+($eide% 23 He#(e%i$5#'$ 011> Cappella a$d

Ka"ie*'$ 2@8. N'# '$l- d' "edia p%'vide #(e p!li+ 4i#( %ea*'$* #' di*#%*# i$*#i##i'$*, 4(e#(e%

pe%&'%"a$+e '% vale* !a*ed, !# #(e- al*' (ave a *!+'$*+i'* a&&e+#ive %'le. K'*ep( N. Cappella a$da#(lee$ Hall Ka"ie*'$ !ild a "e$#al "'del '& #(e e&&e+# '& "edia '$ p!li+ p'li#i+al d5"e$#*, *('4i$5

('4 #(e p%'+e** '& +'$*"i$5 #(e" 5ive "edia *!*#a$#ial i$&le$+e i"pa+#i$5 a$ i$dividal* a&&e+#ive%ela#i'$ #' a$ i$*#i##i'$ 6Cappella a$d Ka"ie*'$ 2@8. Media #(e%e!- (ave p'4e% i$ i$&le$+i$5 #(e level

'& +-$i+i*" 6di*#%*#8 a+#iva#ed i$ #(e %e+ipie$#* "i$d a5e$da *e##i$5, &%a"i$5 #(e +'$#e#, a$d p%i"i$56e.5., a $e5a#ive p%e*e$#a#i'$8. S+('la%* (ave $'#ed #(a# "edia (ave %e4a%d i$+e$#ive* &'% p%'vidi$5 +-$i+al

$e4* 6Lip*e# a$d S+($eide% 238 #(* i$+l#iva#i$5 a pa##e%$ '& +-$i+i*".

T%*# li#e%a#%e (a* a !%'ad *+'pe a$d dep#(, #('5( "'*# *+('la%* d%a4 &%'" '$e '% "'%e '& #(e

&'% a%ea* eplai$ed #(* &a%. F%'" #(i* %evie4 i# i* +lea% #(a# a$- a$al-*i* '& #%*# va%ia#i'$ *('ld $'# !e

+'$&i$ed #' a *#%ai5(#&'%4a%d +a*a#i'$ p%'+e**. I& #(e +'$+ep# '& #%*# as it is measured i* #' "ea$ a$-#(i$5,i# *('ld !e $de%*#''d a* !ei$5 +'"p'*ed '& +'"ple a$d i$#e%%ela#ed p%'+e**e*. T(e #a*7 '& #(e%e*ea%+(e% i* #' $#a$5le a$d el+ida#e ('4 "edia, vale*, pe%&'%"a$+e, a$d a&&e+# all i$dividall-

+'$#%i!#e #' a +(a$5e i$ #%*# &'% a$- *pe+i&i+ *i#a#i'$ 4i#(i$ a +e%#ai$ *'+ie#al ide$#i#-. T(e #(e'%- *e+#i'$,

ela!'%a#e* '$ ('4 "- &'% di"e$*i'$* '& #%*# va%ia#i'$* a%e causal mechanisms li$7i$5 %edi*#%i!#ive

p'li+- a$d a de+li$e i$ p'li#i+al #%*#.

THEORY OF REDISTRIBUTIVE POLICY AND HYPOTHESIS FOR THE EURO CRISIST(e +'$+ep# '& %edi*#%i!#ive p'li+- 6*i5$i&ied !- RP &'% %e"ai$de%8 %e&e%* #' a p'li+- 4(e%ei$ #(e

"a'%i#- '& +i#i9e$* !ea% #(e +'*#* a$d ei#(e% a "i$'%i#- '% a$ e$#i%el- *epa%a#e 5%'p %e+eive #(e !e$e&i#*.S+( p%'5%a"* a%e *all- *#i&ied '$ 5%'$d* '& *'+ial *#i+e '% e+'$'"i+ *'lida%i#-. S+( p'li+ie*

i$+lde 4el&a%e p%'5%a"*, &'%ei5$ aid, a$d "'*# +e$#%al !a$7 p'li+ie*.

T(e #(e'%e#i+al a%5"e$# &'ll'4i$5 i* a va%ia$# '& He#(e%i$5#'$* 6011>8. Hi* US +a*e *#d-

'!*e%ved #(e e&&e+# '& p'li#i+al #%*# '$ RP. He #%ea#ed #%*# a* a$ i$depe$de$# va%ia!le, (-p'#(e*i9i$5 #(a##(e +'$*i*#e$# d'4$4a%d #%e$d i$ #%*# +%ea#ed a +'$*e%va#ive *(i i$ p'li+- a4a- &%'" RP. F'% p'li#ie* i$

4(i+( #%*# (a* !ee$ l'4 '% de+%ea*i$5 &'% l'$5 pe%i'd* '& #i"e i# i* "'%e app%'p%ia#e #' *#d- #%*# a* a+a*e ('4eve% i$ #(e *('%# #e%" i# "a7e* "'%e *e$*e #' #%ea# a d%a"a#i+ "'ve"e$# p '% d'4$ i$ #%*# a*

a$ e&&e+#. De*pi#e #(e e$d'5e$ei#- '& #%*#, He#(e%i$5#'$* 4'%7 d'e* *('4 a *i5$i&i+a$# %ela#i'$*(ip

!e#4ee$ #%*# a$d RP de*e%vi$5 +l'*e% #(e'%e#i+al a##e$#i'$ i$ *('%# #e%" *+e$a%i'*.

He#(e%i$5#'$ a%5e* #(a# #%*# i* %e)i%ed #' d%a4 *pp'%# &'% RP. He *pe+i&ie* #(e pe%+eivedp%'!le"* 4i#( RP: la+7 '& di%e+# !e$e&i#*, la+7 '& #a$5i!le *++e**, a$d p''% 5e$e%al %ep#a#i'$* '& #('*e

%e+eivi$5 #(e !e$e&i#* 6He#(e%i$5#'$ 011>, 08. T(i* *55e*#* #(a# RP al'$e i*$# #(e p%'!le", !# %a#(e%p!li+ pe%+ep#i'$ '& RP, "ea$i$5 #(e%e "*# !e *i5$i&i+a$+e &'% #%*#. P!li+ pe%+ep#i'$* a%e (i5(l-

depe$de$# '$ "edia. D' "edia +l'*el- a**'+ia#e 5've%$"e$# i$*#i##i'$* 4i#( RP H'4 "+( "ediaa##e$#i'$ i* !%'5(# '$ i# D'e* #(e RP +'$+e%$ a $a#i'$all- i"p'%#a$# i**e &%e)e$#l- i$ #(e $e4* Media

+a$ (ei5(#e$ #(e *alie$+e '& RP i**e* a$d d%a4 p!li+ a##e$#i'$ #'4a%d i#, "a7i$5 i# a +a*al "e+(a$i*"

li$7i$5 RP #' a +(a$5e i$ #%*#.

(e$ +i#i9e$* a%e ep'*ed #' "'%e i$&'%"a#i'$ via "edia #(e- "a7e performance evala#i'$*+'$+e%$i$5 RP. Pe'ple #(i$7, I* #(i* p'li+- %eall- 4'%7i$5 (- i* #(e p%'!le" $'# 5'i$5 a4a-J F%#(e%,

a* pe'ple a**'+ia#e #(e p%'!le" 4i#( #(e i$*#i##i'$* i$v'lved, #(e- !e5i$ #' )e*#i'$ #(e $'%"a#ive %'le '&


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#(e i$*#i##i'$. T(e- a*7 value!a*ed )e*#i'$* *+( a*, I* i# %eall- #(ei% '! #' (elp thosepe'ple a$-4a-J

Si$+e pe%&'%"a$+e a$d vale* !'#( p%'vide a +'5$i#ive !a*i* &'% evala#i$5 i$*#i##i'$* i$v'lved 4i#( RP, i#+a$ %ea*'$a!l- !e a%5ed #(e- a%e +a*al "e+(a$i*"* li$7i$5 RP a$d #%*#.

Fi$all- #(e%e i* a *#%'$5 affective %ea+#i'$ #' RP i$&le$+i$5 #%*#. RP +a$ !e *#%'$5l- li$7ed #'+l#%al a$d pe%*'$al a##i#de* #'4a%d #(e 5%'p %e+eivi$5 !e$e&i#*. A 5e$e%al la+7 '& e*#ee" &'% *+( 5%'p*

lead* #' a$ i$+li$a#i'$ #' vie4 #(e" a* $de*e%vi$5 RP a$d #(e%e!- )e*#i'$i$5 #(e i$*#i##i'$ a**'+ia#ed

4i#( RP. Oe$ a&&e+# 4'%7* #' *#%'$5l- %ei$&'%+e pe%+eived pe%&'%"a$+e i**e*, *+( a* a$ e"'#i'$al

ave%*i'$ #' #(e idea '& !ei$5 pla-ed &'% *+7e%* !- #(e i$*#i##i'$ #(i* a$#ipa#(- #'4a%d !ei$5 di*%e*pe+#ed#%a$*+e$d* a %a#i'$al *el&


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#i"e. T(e RP p%'5%a"* 4ill +'$#i$e #' la+7 i""edia#el- di*+e%$i!le %e*l#* 6pe%&'%"a$+e8. T(i* all'4*

"edia #' $e5a#ivel- &%a"e #(e i**e a$d &'% p!li+ pe%+ep#i'$* #' +%-*#alli9e a%'$d #(e $'#i'$ #(a# *+(p%'5%a"* a%e #(e i"p%'pe% %'le &'% #(e i$*#i##i'$* #' a**"e 6vale*8. F'% #(e E%' C%i*i* a *#%'$5 %'le i*

pla-ed !- #(e a&&e+# %ela#i$5 #' ('4 N'%#(e%$ E%'pea$* $e5a#ivel- vie4 S'#(e%$ E%'pea$*. A&&e+# al*'%e&e%* #' pe%+eived &ai%$e**, #(e idea #(a# +'$#%ie* #(a# pla-ed !- #(e %le* a$d %e*p'$*i!l- "a$a5ed #(ei%

&i$a$+e* i$ #(e pa*# *('ld $'# (ave #' pa- &'% #(e 've%i$dl5e$# $e5li5e$+e '& '#(e% +'$#%ie*, #(e- d'$#

4i*( #' !e pla-ed &'% *+7e%*. Pa%#i+la%l- &'% ;e%"a$-, 4(i+( p%evi'*l- (ad +# 5've%$"e$# la!'%

p%'5%a"*, +i#i9e$* a%e l'a#(e #' #(e idea '& !ei$5 %e4a%ded &'% #(ei% &%5ali#- !- !ei$5 le 4i#( #(e !ill &'%#(e *pe$d#(%i ;%ee7*. M- #(e'%- #(e%e&'%e p%edi+#* #(a# a* RP +(a$$el* a$d %ei$&'%+e* #(e &'% di"e$*i'$*

'& #%*# va%ia#i'$, #%*# 4ill de+li$e e*pe+iall- &'% +i#i9e$* 4(' pe%+eive #(e- !ea% #(e la%5e*# +'*# a$d%e+eive #(e lea*# !e$e&i#.

RESEARCH DESI;N

T(e #%'!le* 4i#( ;%ee7 p!li+ &i$a$+e* !e5a$ i$ la#e 011, !e+'"i$5 a E%'pea$ i**e i$ ea%l-

0121 4(e$ #(e &i%*# ;%ee7 !ail'# 4a* de+ided p'$ 6Ma%+(8. T(e "ai$*#%ea" +'$+ep#i'$ '& #(e E%' C%i*i*

i* a *!*e# '& #(e '$5'i$5 ;l'!al E+'$'"i+ C%i*i* 4(i+( '%i5i$a#ed i$ la#e 011@ "- pa%a"e#e% &'% #(e E%'

C%i*i* 4ill *#a%# i$ 0121 4(e$ #(e +%i*i* !e5a$ #' +%ea#e "a'% p%'!le"* &'% E%'pea$ p!li+ &i$a$+e* a$dp'li+- a+#i'$ !e+a"e i""i$e$#. I# i* (i5(l- p%'!a!le, 5ive$ "- #(e'%- '& #%*#, #(a# e+'$'"i+ de+li$e a$d5've%$"e$# p'li+ie* a##e"p#i$5 #' %eve%*e #(a# de+li$e !- aidi$5 !a$7* a$d la%5e +'%p'%a#i'$* i$i#ia#ed a

d'4$4a%d #%e$d i$ #%*#. T(e E%' C%i*i* %ep%e*e$#* a +'$+e$#%a#ed a"'$# '& *pe+i&i+all- RP de+i*i'$*

a**'+ia#ed 4i#( EU i$*#i##i'$*. T(e%e&'%e !'#( 011 a$d 0121 +'ld !e *ee$ a* !'#( p'**i!le *#a%#i$5 da#e*

&'% a #%e$d '& EU


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H-p'#(e*i* I i* #e*#ed !- a**e**i$5 E%'!a%'"e#e% *%ve-* '& #%*# a+%'** #(e 2@ E%'9'$e "e"!e%*

6EZ2@8 a$d *eve$ i$*#i##i'$*. De #' #(e 5e$e%al $a#%e '& H-p'#(e*i* I, a *i"ple di&&e%e$+e '& "ea$* #e*#i* applied #' #(e da#a i$ '%de% #' a*+e%#ai$ 4(e#(e% #(e #i"e pe%i'd '& #(e +%i*i* 60121 #' 01208 i* +'%%ela#ed

4i#( a$ i$+%ea*e i$ di*#%*#. Si$+e I (-p'#(e*i9e a de+li$e i$ #%*#, I *e #(e pe%+e$#a5e '& %e*p'$de$#* 5ivi$5#(e "'*# distrustful a$*4e%. U*i$5 #(i* da#a, I l''7 &'% a$ i$+%ea*e i$ di*#%*#, a**'+ia#ed 4i#( #(e -ea%* 0121

#' 0120. Ta7i$5 #(e ave%a5e '& all #(e *%ve-* &%'" Ap%il 2 6N've"!e% 0113 &'% $a#i'$al 5've%$"e$#,

pa%lia"e$#, a$d EU8 #' N've"!e% 011, I +'"pa%e i# #' #(e ave%a5e ae% 011, *#a%#i$5 4i#( #(e K$e 0121

*%ve- a$d e$di$5 4i#( #(e "'*# %e+e$# N've"!e% 0122. F%#(e%, I "ea*%e #(e "a%5i$al di&&e%e$+e !e#4ee$#(e*e #4' da#e* i$ '%de% #' de#e%"i$e #(e $a#%e '& #(e di&&e%e$+e !e#4ee$ #(e #4' "ea*%e"e$#* #(a# "a%7

#(e '$*e# '& #(e +%i*i*. T(e*e %e*l#* a%e a**e**ed de*+%ip#ivel- al'$5 4i#( a vi*al p%e*e$#a#i'$ i$ 5%ap(* '(e ave%a5e va%ia#i'$ i$ #%*# &'% ea+( i$*#i##i'$. T(e "'*# +%i#i+al +'$#%'l va%ia!le i* #(e e+'$'"i+

%e+e**i'$ p%e+edi$5 #(e E%' C%i*i* i$ 011. T(e E%' C%i*i* -ea%* *('ld *('4 a *i5$i&i+a$# !%ea7 &%'"a$- p%evi'* #%e$d..

C'$#%- di&&e%e$+e* i$ #(e E%'9'$e *('ld ideall- !e #a7e$ i$#' a++'$# a* 4ell. T(i* i$+lde*

level '& e+'$'"i+ devel'p"e$#, #%ade %ela#i'$*(ip* 6i$#e5%a#i'$8, (i*#'%- 4i#( #(e EU 6$e4e% ve%** 'lde%

"e"!e%*8, a$d e*pe+iall- #(e level '& 7$'4led5e a$d #(e %ela#i'$ #' EU i$*#i##i'$* a$d p'li+-. T(e la##e% i$

pa%#i+la% %e&e%* #' ide$#i#- 6p5. 38. T(e*e &a+#'%* 4'ld eplai$ 4(- *'"e +'$#%ie* epe%ie$+e la%5e% #%*#va%ia#i'$ #(a$ '#(e%* 4i#(i$ #(e E%'9'$e, eve$ a* #(e ave%a5e #%e$d +'%%e*p'$d* 4i#( #(e (-p'#(e*i*.H-p'#(e*i* II i* #e*#ed 4i#( a p%'+e** #%a+i$5 '& ;e%"a$-. ;e%"a$- i* #(e +%+ial +a*eJ i& #(e (-p'#(e*i*

i* $*pp'%#ed #(e%e, i# i* (i5(l- $li7el- &'% i# #' !e *pp'%#ed el*e4(e%e. ;e%"a$- p'**e**e*

S#a+7el!e%5J leade%*(ip )ali#ie* 4i#(i$ #(e E%'9'$e, "ea$i$5 #(a# '#(e% EU "e"!e%* #e$d #' &'ll'4

;e%"a$- i$ +l#%al a$d p'li#i+al #%e$d* de #' i#* %e5i'$al d'"i$a$+e. Si5$i&i+a$#l-, ;e%"a$- !'%e a la%5e*(a%e '& #(e +'*# '& E%' C%i*i* RP. I& #(e%e i* a +a*al +'$$e+#i'$ !e#4ee$ #%*# a$d RP, i# 4'ld li7el- !e

"'*# *#%'$5 &'% ;e%"a$ +i#i9e$*.N'# '$l- (a* ;e%"a$- !'%$e #(e !%$# '& #(e +'*# &'% !ail'# pa+7a5e*, !# i# al*' (a* a *'+ial28 d' $'#

(ave a &av'%a!le 'pi$i'$ '& #(e ECB a* '& Sp%i$5 0120 6Q18. A "a'%i#- 6>8 'pp'*e #(e EU #a7i$5+'$#%'l '& Me"!e% *#a#e !d5e#*8 'pp'*edp%'vidi$5 &i$a$+ial a**i*#a$+e #' "e"!e% *#a#e* 6Q38. T(e*e *%ve- %e*l#* *('4 a ;e%"a$ p!li+ (i5(l-

+%i#i+al '& #(e ECB a$d i#* RP p'li+ie*.

Fi$all-, #(e la%5e*# +'"pe#i$5 epla$a#i'$ &'% #(e de+li$e i$ #%*#, #(e e+'$'"- 6e&&e+#* '& ;l'!al

Fi$a$+ial C%i*i*8 *('ld !e evala#ed &'% i#* p'#e$#ial %'le i$ !%i$5i$5 a!'# a de+li$e i$ #%*#. Al#('5( #(ep%*i# '& RP 4a* 'e$ !%'5(# '$ !- +'"ple p%'+e**e* %e*l#i$5 &%'" a p''% e+'$'"-, I a%5e #(a#RP i*

#(e %ea*'$ &'% #(e de+li$e i$ #%*#, $'# p''% e+'$'"i+ pe%&'%"a$+e i$ ;e%"a$-. I$ '#(e% 4'%d*, ;e%"a$* a%e


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2>

$'# le** #%*#&l '& EU i$*#i##i'$* !e+a*e #(e German e+'$'"- (a* (i5(e% $e"pl'-"e$#, l'4e% ;DP, '%

(i5( i$&la#i'$, #(e- a%e le** #%*#&l !e+a*e '& #(e p'li+ie* e$a+#ed #' i"p%'ve!uropean e+'$'"ie*.A$- p%e


17/26

2

a5%ee"e$# #' !ail'# ;%ee+e i$ !'#( i$*#a$+e*. T(a# #(e '#(e% !ail'#* did$# %e5i*#e% *+( a *#%'$5 %ea+#i'$

I%ela$d, P'%#5al, Spai$ "a- i$di+a#e #(a# #(e%e i* $'# a* *#%'$5 $e5a#ive a&&e+# #'4a%d #('*e +'$#%ie* a*#(e%e i* #'4a%d ;%ee+e 6#(i* i* *pp'%#ed !- *%ve- da#a p%e*e$#ed '$ p5. 028.

V'#e i$#e$#i'$ %e&e%* #' #(e pa%#- 4i#( 4(i+( #(e %e*p'$de$# 4'ld "'*# li7el- v'#e i& #(e ele+#i'$4e%e (eld '$ #(e da- '& #(e *%ve- a$d li7e all #(e va%ia!le* i$ #(i* *e+#i'$, #(e*e %e*l#* #e$d #' &l+#a#e i$

#e%"* '& "a'% p'li#i+al eve$#* a$d de+i*i'$* #(e- "a- $'# a+#all- p%edi+# ('4 4ell #(e pa%#- 4ill d' i$ a$

ele+#i'$. I# i* e**e$#iall- a "ea*%e '& p!li+ *e$#i"e$# '% a##i#de* a# #(e #i"e '& #(e *%ve-.

T(e da#a i$ Fi5%e / iv, &'+*e* *pe+i&i+all- a# #(e 4ee7 &'ll'4i$5 #(e RP de+i*i'$ p'i$#. T(e "'*#'!vi'* d'4$4a%d *pi7e i* i$ Ma- '& 0121. Be*ide ide$#i&-i$5 #(e +i%+led d'4$4a%d #%e$d, #(e di&&e%e$+e

!e#4ee$ #(e /021 da#a p'i$# a$d #(e >2/21 da#a p'i$# i* 3, a la%5e di&&e%e$+e 5ive$ #(e %ela#ivel- *"alla"'$# '& va%ia#i'$ &'% v'#e i$#e$#i'$ 6#(e e$#i%e #i"e pe%i'd '& #4' a$d a (al& -ea%* i* +'$#ai$ed 4i#(i$ a

31liberals. #rom left to riht the circles mar


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2@

%ea+#i'$ a# >.>. T(e evide$+e #(* &a% p'i$#* #' a p!li+ %ea+#i'$ #' #(e B$de*#a5 v'#e*. Si$+e #(e*e p%'ie*

a%e $a#i'$al "ea*%e* i# i* %ea*'$a!le #' *ee a *#%'$5e% %ea+#i'$ #' $a#i'$al p'li+ie* #(a$ EU "ea*%e* 6#(i*i* al*' 4(- ECB a+#i'$* a%e $'# i$+lded, VI8. T(e 4ea7e*# %e*l# (e%e i* #(e Spa$i*( !ail'# 6VIIa8 4(i+(

a+#all- %e5i*#e%ed a$ i"p%'ve"e$# i$ *a#i*&a+#i'$ '& 2.>. L''7i$5 a# #(e 5%ap( #(e%e i* a!%ie& d'4$4a%d *pi7e #(a# i*$# a++'$#ed &'% i$ #(e #a!le, !# '#(e%4i*e #(e e&&e+# '& #(e Spa$i*( !ail'#

*ee"* #' (ave !ee$ la55ed $#il la#e% i$ #(e "'$#( '% $'# p%e*e$# a# all a* "ea*%ed !- ;'ve%$"e$#

Sa#i*&a+#i'$. T(i* "a- "ea$ #(a# pe'ple (ad$# (ad #i"e #' %ea+# '% did$# i$i#iall- +'$$e+# #(ei% ave%*i'$

4i#( #(e Spa$i*( !ail'# #' #(e $a#i'$al 5've%$"e$# 6al*' i# 4a*$# a &ll Spa$i*( 5've%$"e$# !ail'#, !#aid &'% a Spa$i*( !a$7 !ail'#8.

#iure ?: 9o0 /atisfied are the Germans 0ith their Government 8uestion: Are you satisfied 0ith theperformance of the federal overnment /ho0n is percentae of yes ans0ers minus no. "ircles from left to

riht: -I Portuuese =ailout, -a Gree< * =ailout, -b !#/# at =undesta, -IIa /panish =ailout,-IIb !/3 at =undesta.


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2

Table ?: Government satisfaction decline -those satisfied minus unsatisfied. &ifference is the pre)test minus

the post)test in order to measure satisfaction decline.

Sa#i*&a+#i'$ 4i#( Me%7el i* a%5a!l- #(e +l'*e*# #%*# p%'- '& #(e #(%ee p%e*e$#ed (e%e, 5ive$ #(e

leade%*(ip %'le '& Me%7el i$ *(api$5 E%' C%i*i* p'li+-, a* 4ell a* (e% +'$di#i'$al *pp'%# &'% RP. Fi5%e vi

*('4* #(e *#%'$5e*# evide$+e -e# #(a# +e%#ai$ RP de+i*i'$ p'i$#* "a##e% &'% #(e ;e%"a$ p!li+. A* i$ all

p%evi'* e"pi%i+al *#die*, #(e !i55e*# e&&e+# i* i$ Ma- ae% #(e #(%ee RP eve$#* Ia, I!, I+ all '++% 4i#(i$ a4ee7 '& ea+( '#(e% a la%5e dip i* *ee$ #(a# appea%* #' *pa$ a +'$*ide%a!le 2> 5ap. H'4eve%, #(e%e appea%*

#' !e le** '& a %ea+#i'$ #' #(e I%i*( !ail'# 6II8. T(e%e d' *ee" #' !e *"all p!li+ 'pi$i'$ %ea+#i'$* #' III a$dVa, 4i#( a 5e$e%al d'4$4a%d #%e$d d%i$5 #(i* pe%i'd '& (i5( "edia a##e$#i'$ '$ #(e E%' C%i*i*. T(i* da#a

*('4* a$ $epe+#ed p4a%d *pi7e i$ *a#i*&a+#i'$ &'ll'4i$5 V!, al#('5( #(a# a+#i'$ i$v'lved #(e $a#i'$al

pa%lia"e$# a$d $'# Me%7el, *' *(e 4a* li7el- $'# i"pli+a#ed i$ #(e de+i*i'$.

#iure 5: /atisfaction 0ith 3er


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2

T' +'$+lde #(i* *e+#i'$, #(e %e*l#* d' *('4 li"i#ed *pp'%# &'% H-p'#(e*i* II. S'"e RP de+i*i'$*p'i$#* a%e +'%%ela#ed 4i#( a $e5a#ive *pi7e i$ p!li+ 'pi$i'$, "ea$i$5 #(a# #(e p!li+ #''7 $'#i+e '& *+(

p'li+ie* a$d #(e%e!- all'4ed #(e" #' i$&le$+e #(ei% #%*# &'%"a#i'$. T(e "'*# %e*p'$*ive RP de+i*i'$ p'i$#4a* I 6&i%*# ;%ee7 !ail'#, ECB i$#e%ve$#i'$, a$d EFSF8, 4(i+( *('4* a *#%'$5 e&&e+# a+%'** all #%*#

"ea*%e"e$#* a$d p%'ie*. T(e I%i*(, P'%#5e*e, a$d Spa$i*( !ail'#* d' $'# (ave *+( a *#%'$5 e&&e+#. A

"'de%a#e e&&e+# i* '!*e%ved &'% #(e *e+'$d ;%ee7 !ail'# a* 4ell a* B$de*#a5 v'#e* '$ !'#( #(e EFSF a$d

ESM. T(e*e %e*l#* *55e*# RP "a##e%*, #('5( #(e e&&e+# va%ie* a* #(e #-pe '& RP va%ie* 6'% pe%(ap* #(e'#(e% +a*al "e+(a$i*"* *+( a* "edia a##e$#i'$8. F'll'4i$5 i* a *('%# di*+**i'$ '& E%' C%i*i* RP a$d

4(- *'"e de+i*i'$* "i5(# !e "'%e "ea$i$5&l #(a$ '#(e%*.

Euro risis Redistributi!e Policy and Trust

T(e #4' e+'$'"i+ *#%a#e5ie* #' +'"!a# #(e +%i*i* (ave !ee$ RP. T(e epa$*i'$a%- "'$e#a%- a+#i'$*

&%'" #(e ECB a$d #(e !ail'#*. T(e ECB "ade E%'* "'%e availa!le #' !a$7* a$d a##e"p#ed #' ('ld

*'ve%ei5$ de!# !'$d -ield* d'4$ #(%'5( i#* p%+(a*e* '$ *e+'$da%- "a%7e#*. Seve%al i"pli+a#i'$* '& #(e*e

p'li+ie* a&&e+# #(e &'% #%*# +a*al "e+(a$i*"*. F'% pe%&'%"a$+e, #(i* "ea$* #(e ECB i* %i*7i$5 i$&la#i'$

#(%'5( i$+%ea*i$5 #(e *ppl- '& E%'* i$ #(e "a+%' e+'$'"-, a p%'!le" ;e%"a$* a%e a4a%e '& a$d+'$+e%$ed 4i#(. F'% vale*, #(e*e a+#i'$* +(a$5e #(e ECB* %'le &%'" #(a# '& +%%e$+- *#a!ili9e% 67eepi$5#(e E%'* vale +'$*#a$#8 #' e+'$'"i+ *#a!ili9e%, 4(e%e i# i* $'4 #%-i$5 #' %e*'lve "'%e +'"ple e+'$'"i+

p%'!le"* i# 4a* $'# i$#e$ded #' %e*'lve. Vale%ie B%ai#(4ai#e 628 4'ld +(a%a+#e%i9e #(i* a* a +a*e '& a$

e+(a$5e #%*# $'%" i$*#i##i'$ a##e"p#i$5 #' ad(e%e #' +'""$al #%*# $'%"* 6*ee p5. 38.

T(e *e+'$d e+'$'"i+ *#%a#e5- (a* !ee$ #(e *e '& !ail'# &$d* #' p%'vide li)idi#- #' (a%d


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01

ontent Analysis in Germany" #indin$ ausal Mec%anisms

T(e e"pi%i+al evide$+e a$d di*+**i'$ *55e*#* a li$7 !e#4ee$ RP a$d a *i$5le 5e$e%ali9ed,a55%e5a#ed #%*# "ea*%e. T(e p%p'*e '& #(i* *e+#i'$ i* #' a**e** )ali#a#ive evide$+e &%'" *%ve-* a$d

"edia *'%+e* i$ ;e%"a$- #' di*+e%$ #(e p%e*e$+e a$d p'**i!le e&&e+# '& #(e &'% +a*al "e+(a$i*"*ide$#i&ied i$ #(e #(e'%- "edia, pe%&'%"a$+e, vale*, a$d a&&e+#. T(i* #e*#* #(e &ea*i!ili#- '& a%5i$5 #(a# RP

a+#iva#e* #(e*e &'% di"e$*i'$* '& #%*# va%ia#i'$ #(* leadi$5 #' #(e '!*e%ved de+li$e i$ #%*#. I$ 5e$e%al, #(e

)ali#a#ive evide$+e *pp'%#* #(e #(e'%-

;e%"a$ la$5a5e a%#i+le* 4i#( (eadli$e* li7e De#*+(e elle* ECB *&&e%* +%edi!ili#- !l'4J 6Bla a$dEd"'$d* 01218 '% Nee Z%+(e% Zei#$5* ;e%"a$ Aid &'% Spa$i*( !a$7*J 6S+("id 01208 '%

#a5e**+(a.de* I* ;e%"a$- lia!le &'% p #' /> Billi'$ E%'*J 6I&'


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02

T(e A5*# 0121 E%'!a%'"e#e% *%ve- *('4ed #(a# '& #('*e 4(' !elieved #(a# +'$#%ie* &a+i$5

e+'$'"i+ a$d &i$a$+ial di&&i+l#ie* *('ld %e+eive ;e%"a$ aid, >3 a$*4e%ed #(a# #(e- *('ld d' *' &'% #(e%ea*'$ #(a# i# i* i$ #(e e+'$'"i+ i$#e%e*# '& ;e%"a$- #' d' *' 6QC228, a$d '$l- /3 a$*4e%ed #(a# i# *('ld

!e d'$e !e+a*e '& E%'pea$ *'lida%i#- !e#4ee$ "e"!e% *#a#e*. A Sep#e"!e% 0122 E%'!a%'"e#e% S%ve-*('4ed #(a# @2 '& ;e%"a$* !elieve *e##i$5 a*ide a *(a%e '& p!li+ de!# #' !e (eld a"'$5 all "e"!e%

*#a#e* 4'ld '$l- !e$e&i# #(e 4'%*# '&& "e"!e% *#a#e* 6228 a$d @/ !elieve i# pe$ali9e* #(e !e##e% '&& *#a#e*

6208. I$ #(e*e *%ve-*, 'pp'*i#i'$ #' RP *ee"* #' !e &%a"ed %a#i'$all- *i$+e i# i* '$l- !e$e&i#i$5 a "i$'%i#-

a$d i* +%ea#i$5 di*i$+e$#ive* &'% #('*e #(a# *('ld !e %e4a%ded. Al*', @3 a%e *('4$ #' *pp'%# e*+ala#i$5&i$a$+ial pe$al#ie* &'% EU Me"!e% *#a#e* $'# +'"pl-i$5 4i#( 'i$#l- de&i$ed %le* '$ de!# a$d p!li+ de&i+i#

628. T(i* i* a ve%- %a#i'$al 4a- #' i$+e$#ivi*e "e"!e% *#a#e* %e+eivi$5 aid i$ '%de% #' e$*%e !e##e%pe%&'%"a$+e.

Affect

T(e &i$al p%'p'*ed +a*al "e+(a$i*" %ela#e* #' a$ e"'#i'$al '% 5# %ea+#i'$ #' RP. I$ #(i* +'$#e#

i# i* "'*# li7el- +e$#e%ed a%'$d a di*li7e '& ;%ee7* '% a &$da"e$#al di*#%*#&l a##i#de #'4a%d S'#(e%$

E%'pea$* a$d 5ivi$5 #(e" "'$e-. T(e Sp%i$5 0120 Pe4 S%ve- &'$d #(a# / '& ;e%"a$* (eld a

*'"e4(a# $&av'%a!le vie4 '& ;%ee7* 6(i5(e*# a"'$5 #(e +'$#%ie* *%ve-ed8, 4i#( '$l- 0> *'"e4(a#

&av'%a!le 6Q8. A*7ed 4(i+( EU +'$#%-, i& a$- 6#(e*e pe%+e$#a5e* a%e '&&*e# !- #('*e 5ivi$5 #(e $'$ea$*4e%8, 4(e%e pe'ple a%e #(e lea*# (a%d4'%7i$5, /0 '& ;e%"a$* %e*p'$ded 4i#( ;%ee+e, 23 I#al-, a$d@ Spai$, #(e #(%ee (i5(e*# 6Q>1a28. I$ a *i"ila% )e*#i'$ 4(i+( a*7ed 4(i+( EU +'$#%- 4a* "'*#

+'%%p#, 31 %e*p'$ded 4i#( ;%ee+e a$d 30 4i#( I#al- 6Q>2a28. Pe%(ap* #(e "'*# +'$+l*ive %e*l# 4a*

&%'" #(e K$e 0120 Y'5'v S%ve- a*7i$5 ('4 "+( #%*# +i#i9e$* (ave i$ #(e 5've%$"e$#* '& va%i'* EU

+'$#%ie* #' #a7e #(e %i5(# de+i*i'$* a!'# #(e %e '& #(e EU. I$ #(e d' $'# #%*# "+(a# all +a#e5'%-,Spai$ %e+eived 3, I#al- , a$d ;%ee+e 3 6>8. T(i* +#* #' #(e (ea%# '& #(e i**e, a &$da"e$#al

$e5a#ive %ea+#i'$ #' *'#(e%$ E%'pea$* '$ a$ a&&e+#ive level 4(i+( i* a (i5(l- pla*i!le %ea*'$ &'% #(ede+li$e i$ #%*# a**'+ia#ed 4i#( RP. I& RP i* e#e$ded #' $a#i'$al 5%'p* #(a# a%e $'# #%*#ed, #(e$ i# "a7e*

*e$*e #(a# #(e EU i$*#i##i'$* i"ple"e$#i$5 #(e RP 4ill i$ #%$ !e di*#%*#ed.

CONCLUSION

I# *('ld !e $'#ed &%'" #(a# "- +'$+l*i'$* a%e li"i#ed !- #(e %ela#ivel- i$ade)a#e "ea*%e"e$#*

de #' #(e la+7 '& availa!ili#- '& "'%e p%e+i*e da#a. H'4eve%, #(e evide$+e p%e*e$#ed d'e* *pp'%# #(e(-p'#(e*e* #' a %ea*'$a!le e#e$#. T(e %e*l#* i$di+a#e a $e5a#ive %ela#i'$*(ip !e#4ee$ #%*# a$d #(e E%'

C%i*i* a+%'** #(e 2@ E%'9'$e "e"!e%* 6al#('5( va%-i$5 a+%'** +'$#%ie*8. Opi$i'$ p'll #%*# p%'ie**('4 #(a# RP de+i*i'$* +a$ pa%#iall- a++'$# &'% #%*# de+li$i$5 i$ EU i$*#i##i'$*, 4i#( a *#%'$5e% %e*l# &'%

#(e ;%ee7 !ail'#* a$d &'% Pa%lia"e$#a%- %a#i&i+a#i'$ '& !ail'# "ea*%e*. F%#(e%, #(e +a*al "e+(a$i*"*

#(a# RP i* (-p'#(e*i9ed !- "- #(e'%- #' a+#iva#e a%e *#%'$5l- *pp'%#ed )ali#a#ivel- !- *%ve- evide$+e.

Media, vale*, pe%&'%"a$+e, a$d a&&e+# all pla- a %'le a# *'"e level i$ de#e%"i$i$5 ;e%"a$ +i#i9e$*ave%*i'$ #' RP i$ #(e +'$#e# '& #(e E%' C%i*i*. F'% ;e%"a$-, #(e "'*# p%e*+ie$# +a*al "e+(a$i*" i*

a%5a!l- #(e $e5a#ive a&&e+# #'4a%d S'#(e%$ E%'pea$*.I leave #(e )e*#i'$ '& e#e%$al validi#- $a$*4e%ed a* #(i* i* a #'pi+ &'% &%#(e% %e*ea%+(. I (ave

a##e"p#ed #' &%a"e "- %e*ea%+( i$ 5e$e%al #e%"* *' #(a# *!*e)e$# *#die* '& e+'$'"i+ +%i*e* i$v'lvi$5 RP+a$ *e *i"ila% "e#('d* a$d l''7 &'% *i"ila% %e*l#*. A* *#%e**ed #(%'5('#, #(e $i)e a##%i!#e* '&

;e%"a$- all'4 &'% #(e 5ive$ +'$+l*i'$*e*pe+iall- ide$#i#-. O#(e% E%'9'$e "e"!e%* #(a# *(a%e *i"ila%

ide$#i#ie* "a- -ield *i"ila% %e*l#* 6Fi$la$d &'% ea"ple8. T(e p'*i#i'$ '& ;e%"a$- a* !ea%i$5 #(e !%$# '&

#(e !ail'# epe$*e "a7e* i# #(e &'%e"'*# +a*e &'% RP !ei$5 #(e +a*e '& a #%*# de+li$e 6F%a$+e !ei$5 #(e'#(e% !i55e*# +'$#%i!#'%8. T(i* *#d- '$l- !%ie&l- #'+(e* '$ #(e e&&e+# '& RP '$ %e+ipie$# +'$#%ie* #%*#

6;%ee+e, e#+.8. I# 4'ld !e "'%e di&&i+l# i$ #(e*e +a*e* #' +'$#%'l &'% *'+ial $%e*# a$d e+'$'"i+ de+li$e


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('4eve%, #(e &a+# #(a# #%*# de+li$ed *' d%a"a#i+all- &'%!' i$*#i##i'$* i$di+a#e* #(a# EU RP "i5(# !e a

"a'% +a*e, e*pe+iall- a$e$# #(e a*#e%i#- +'$di#i'$* i"p'*ed '$ %e+ipie$# +'$#%ie* li7e ;%ee+e 64(i+(4'ld !e vie4ed !- ;%ee7* a* RP8, i# 4'ld al*' !e a "a'% +a*e i$ i#*el& &'% #(e *'+ial $%e*#.

T(e &i$di$5* (e%e (ave !'#( #(e'%e#i+al a$d p'li+- i"pli+a#i'$*. F'% #(e'%-, #(e %e*l#* *pp'%# Ma%+He#(e%i$5#'$ i$ %eveali$5 #(e i"p'%#a$+e '& #(e %ela#i'$*(ip !e#4ee$ RP a$d #%*#. He%e RP i* a +a*e

i$*#ead '& a$ e&&e+#, !# $eve%#(ele** #(e%e i* a *i5$i&i+a$# e$d'5e$'* %ela#i'$*(ip #(a# *('ld a##%a+#

*+('la%* #' &%#(e% %e*ea%+( i$ '%de% #' a*+e%#ai$ #(e e#e$# a$d appli+a!ili#- '& #(i* li$7 #' '#(e% +'$#%ie*

a$d p'li#i+al *i#a#i'$*.F'% p'li+- #(e%e appea%* #' !e a $eed #' add%e** #(e +l#%al divide !e#4ee$ N'%#(e%$ a$d S'#(e%$

E%'pea$* *i$+e $e5a#ive a&&e+# #'4a%d %e+ipie$#* appea%* #' !e a "a'% +a*al "e+(a$i*" &'% #%*#*de+li$e. A &$da"e$#al $e5a#ive a&&e+# !e#4ee$ %e5i'$* i$ #(e EU i* +a*i$5 +i#i9e$* #' l'*e #%*# i$ EU

i$*#i##i'$* a* #('*e i$*#i##i'$* *ee7 #' aid #('*e *ee$ a* $de*e%vi$5 '& *+( aid. I$ ;e%"a$-, +i#i9e$* &ea%!ei$5 #%ea#ed $&ai%l- a$d (ave #(e e"'#i'$al +'$vi+#i'$ #(a# *'#(e%$e%* a%e a vi+#i" '& #(ei% '4$

i$ep#i#de a$d la9i$e** 4(ile ;e%"a$* !e(aved %e*p'$*i!l-. T(i* %e5i'$al #e$*i'$ !ea%* "a'% i"pli+a#i'$*

&'% epa$*i'$ '& #(e EU a$d #(e E%'9'$e. I& #(e EU a*pi%e* #' %ep%e*e$# a $i#ed E%'pe, i# "*# &i%*#

%e+'5$i9e #(a#, a# #(i* #i"e, *+( a$ e$#i#- &a% &%'" ei*#* '$ a +l#%al a$d a&&e+#ive level 6See Ra- 011/ &'%

"'%e de#ailed di*+**i'$ '& *'%+e* '& EU p'li#i+al +'$&li+#8. T(i* al*' %eveal* #(e la+7 '& dep#( !e(i$d a *'8 #(e *!*e)e$#l'$5e% #e%" l'** i$ #%*# +'ld i$ #%$ +a*e p'li+-"a7e%* #' l'*e all p!li+ *pp'%# &'% *+( p%'5%a"* a$d

#(* l'*e vala!le p'li+- *pa+e #' %e*'lve i$#e%$a#i'$al i**e*. I# i* p'**i!le #(a# a l'$5 #e%" de+li$e i$ #%*#4ill %e*l# i$ a l'** i$ de"'+%a#i+ le5i#i"a+- &'% EU i$*#i##i'$* 6I$5le(a%# 28, a* 4ell a* a de+li$e i$

+'"plia$+e a$d (e$+e e&&e+#ive$e** '& EU p'li+ie* 6S+('l9 28. T%*# i* a$ i**e #(a# i* i5$'%ed a# 5%ea#

pe%il a$d i& #(e *('%# #e%" de+li$e i$ EU p'li#i+al #%*# i* $'# +'%%e+#ed, a$ i$deli!le "alai*e "a- "a7e

%e*'lvi$5 #(e $e# +%i*i* #(a# "+( "'%e di&&i+l#.

REFERENCESA5e$+e F%a$+e0122. e!. 1 A5. 0120.

(##p:444.5''5le.+'"('*#ed$e4*a&pa%#i+leALe)M>i)=$pS%;a'$;0R&/e2KH-eP)YAd'+IdCN;.!>0&0d@0a/+2e+3>d03&3dd>//[email protected].

A5e$+e F%a$+e


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03

e!. 1 A5. 0120. (##p:444.d4.ded4a%#i+le1,,>>332,11.(#"l.

B%ai#(4ai#e, Vale%ie. C'""$al a$d E+(a$5e T%*# N'%"*: T(ei% Vale Ba*e a$d Releva$+e #'I$*#i##i'$al T%*#. Trust and Governance. Ne4 Y'%7: R**ell Sa5e F'$da#i'$, 2. /

W;e%"a$-X De+. 0122, Fi$a$+ial *e+.: $. pa5. P%i$#.De#*+(e P%e**. P%i$#.

Hi!!i$5, K'($ R., a$d Eli9a!e#( T(ei**


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MA: Ha%va%d UP, 2@. 2222. P%i$#.

S#%p+9e4*7i, Ka$, a$d Klie$ T'-e%. E%' Z'$e A5%ee* #' Le$d Spai$ p #' 211 Billi'$ E%'*. Re#e%*.

T('"*'$ Re#e%*, 21 Ka$. 0120. e!. 1 A5. 0120.

(##p:444.%e#e%*.+'"a%#i+le0120121*


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THE EFFECT OF REDISTRIBUTIVE POLICY ON POLITICAL TRUST