living around the world. A society's willingness to trust and the quality of its institutions have their origins in the … trustworthiness of its citizens. We propose a theoretical structure where trustworthiness and trust are important for production, but … output per capita and that the effect of trust is likely to come through trustworthiness. Our results are robust to …

, efforts to formally model social capital using economic theory, the econometrics of social capital, and empirical studies of …

Only recently, 20 years after transition to a market system, has Russia regained a similar production level it had …, considered by many as the main engine of growth. The explanation may lie in Russia's difficulties and failure to transform the … weakness of Russia. Given the very high 'cost of transition', the question is raised whether the socialist growth strategy (as …

The paper emphasizes the transition in Russia and the role institutions played before and during the process. In Russia … recovered and partly achieved their pre-1991 levels at the end of the last decade. The paper depicts Russia's reform efforts and … demonstrated. The patrimonial system that persisted for centuries is still observable at the state level. At any rate, Russia can …

This paper provides a unified theory to explain the onset of the financial crisis in 1998 and the striking economic … recovery in Russia and the former Soviet Union afterwards. Before the crisis, the banking sector in these economies was stuck … collapse of the treasury bills market in Russia in the financial crisis of 1998 reversed this process and thus acted as a …