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

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Advances in Strategic Management

ISSN: 0742-3322
Series editor(s): Professor Brian Silverman

Subject Area: Strategy

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Document Information:
Title:	Institutions and the vicious circle of distrust in the Russian household deposit market, 1992–1999
Author(s):	Andrew Spicer, William Pyle
Volume:	19 Editor(s): Paul Ingram and Brian S. Silverman ISBN: 978-0-7623-0903-0 eISBN: 978-1-84950-164-4
Citation:	Andrew Spicer, William Pyle (2002), Institutions and the vicious circle of distrust in the Russian household deposit market, 1992–1999, in Paul Ingram and Brian S. Silverman (ed.) The New Institutionalism in Strategic Management (Advances in Strategic Management, Volume 19), Emerald Group Publishing Limited, pp.373-398
DOI:	10.1016/S0742-3322(02)19012-7 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Article type:	Full length article
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.