Multiple Paths to Institutional-Based Trust Production and Repair: Lessons from the Russian Bank Deposit Market
研究了国家所有权和监管作为制度信任的两种不同来源，通过分析俄罗斯银行存款市场中个人选择（私人银行、国有银行或现金持有）来验证这一命题，对理解金融危机后市场信任修复有参考价值。
We propose and test the proposition that state ownership represents an important mechanism of institutional-based trust production in market development that requires analysis in its own right, particularly following periods of financial crisis when the state’s role as a regulator is often viewed as ineffective or corrupt. To test the proposition that state ownership and state regulation act as distinct sources of institutional-based trust production, we examine individual choices of market participation and avoidance in Russia’s market for bank deposits. To analyze the consequences of institutional-based trust, we look at individual preferences to keep savings in a private bank, in a state bank, or in cash outside of the banking system. To analyze antecedent conditions, we measure an individual’s trust in political actors and government agencies. Our results support the proposition that the state produces institutional-based trust in the Russian banking system through its roles as both an owner and a regulator.