Is there an effect of getting paragon of a race class other than the boosts given for the class?I mean for example if you are a dwarf paragon do other dwarves view you in a more friendly way or are there orders of people who are dedicated to honing the powers of their race which welcome you?
There are no bonuses to a paragon class other than those which appear in the class. However, those bonuses tend to enhance the values that others of their race consider valuable. They are therefore likely to gain social status within their culture and rise to positions of leadership or power.
In the same campaign, however, humans, half-orcs, and halflings all thrive, and powerful NPCs of these races might frequently have a level or two in the appropriate paragon class.
There's a sense that the prevalence of paragon classes is closely linked to the ascendancy of that race: that paragons either influence their people to succeed, or else reflect that success. A paragon is therefore more likely to become a lord, guildmaster, king, folk hero or even quasi-deity.