. This paper confronts with empirical evidence two approaches to explain barter in Russia: the ’illusion view’ and the ’trust … in Russia is producing value added by enabling this sector to sell its output at a higher price than its market value …. The ’trust view’ sees barter as an institution to deal with the absence of trust and liquidity in the Russian economy …

Russia?†in which I show that the data reject Barry Ickes' Virtual Economy explanation of barter in Russia in favor of an … institutional explanation based on the lack of trust. …

The virtual economy argument for Russia suggests that barter allows the parties to pretend that the manufacturing … alternative explanation which sees this pricing behavior as a mechanism to deal with the absence of trust and financial discipline …

The virtual economy argument for Russia suggests that barter -a payment in goods rather than cash - allows the parties … trust and liquidity in the economy. …

the suppliers' bargaining position is very strong due to high costs of switching suppliers. Thus, in the absence of trust … particular pitfalls of expansionary monetary policy in barter economies such as Ukraine and Russia. …

theory sheds light on financial crises and economic growth. …

GDP". This work presents a reading of the organized crime under two perspectives: on one hand, the Becker's theory … hand, the trust that Mafia tries toimpose in market relations, according Zamagni and Sen's contributes, makes Mafia an …