“…Here it is important to emphasize social capital, which indicates the quality of social norms, trust and relations (World Economic Forum, 2018). Social trust improves economic efficiency, while low trust leads to reduced cooperation, increased corruption and undermining of democratic political institutions, especially in particularistic societies (Radin, 2018). On the other hand, societies with universal values have clearly applied rules of correct behavior, where decreasing particularism in turn decreases corruption, which is lower in long-lasting market economies and democracies with larger Protestant populations (Rotondi and Stanca, 2015), as can be seen in Figure 4.…”