Whether incentive contracts perform better than trust in terms of productiveefficiency is usually explored by principal …, we find that (mutual) trust is as good as incentivecontracts in inducing costly actions by employees. Moreover, we …

-scale privatization in Russia. The analysis shows that although employee buyouts have helped to reduce unemployment and prevent major …-term growth of privatized enterprises. Unlike in many other transition countries, employees in Russia were obedient to the … remains a popular idea in Russia, but subsequent attempts of the Russian government to isolate enterprises from outside …

provides an estimate of Russia's institutional convergence to the standards of the G7 and the "Big Five" group of large, middle …-income countries that includes Brazil, China, and India. In some areas Russia outperforms Big Five countries, in others it trails … behind. Finally, public mistrust, corruption, and inefficient governance in Russia are discussed in light of the Putin …

market, Russia, provides a natural experiment to investigate this issue. We study three alternative measures of bank … creation. JEL classification: G21; G28; G38; P30; P50 Keywords: Bank capital, liquidity creation, deposit insurance, Russia …

more independently from Russia. We argue that it was the Ukrainian crisis in spring 2014 and the need to promote the … domestic image of Russia as “great power” that created incentives for Russian leadership to accept institutional compromises …

, Russia, provides a natural experiment to investigate this issue. We study three alternative measures of bank liquidity …

This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt …