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Institutions and the vicious circle of distrust in the Russian household deposit market, 1992–1999

The New Institutionalism in Strategic Management

ISBN: 978-0-7623-0903-0, eISBN: 978-1-84950-164-4

Publication date: 1 January 2000

Abstract

Can private firms produce the trust needed to develop and sustain new markets in the absence of government intervention? In our analysis of the Russian household deposit market during the 1990s, we show how the initial conditions of market emergence contributed to a vicious circle in which private commercial banks progressively lost the trust of potential depositors. The Russian case highlights the importance of institutions as collective goods whose successful construction are critical to market success.

Citation

Spicer, A. and Pyle, W. (2000), "Institutions and the vicious circle of distrust in the Russian household deposit market, 1992–1999", Ingram, P. and Silverman, B.S. (Ed.) The New Institutionalism in Strategic Management (Advances in Strategic Management, Vol. 19), Emerald Group Publishing Limited, Leeds, pp. 373-398. https://doi.org/10.1016/S0742-3322(02)19012-7

Publisher

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Emerald Group Publishing Limited

Copyright © 2002, Emerald Group Publishing Limited