IDEAS home Printed from https://ideas.repec.org/a/nos/voprec/y2012id814.html
   My bibliography  Save this article

The Role of Trust and Control Institutions in Informal Monetary Transactions

Author

Listed:
  • A. Lyasko

Abstract

Auxiliary institutions fail to perform the function of protecting economic agents trust in the liquidity of various monetary obligations. Still, despite these conclusions, there exist some forms of monetary arrangements that seemingly demonstrate a high level of trust among their participants. The durability and continuous reproduction of these monetary arrangements in both developing markets and mature economies need to be explained. Part of this explanation has to address the question of trust arising among the parties to these financial transactions and its role in preventing opportunism and breach of promises made by their participants. As shown in this paper, a possible answer to this question might consist in the argument that the protective role of trust in these financial arrangements is replaced by the opposite norm of control over the agents behavior within close-knit social and economic communities. The degree of control may vary, but control always crowds out trust in order to add reliability to these financial setups.

Suggested Citation

  • A. Lyasko, 2012. "The Role of Trust and Control Institutions in Informal Monetary Transactions," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
    • Handle: RePEc:nos:voprec:y:2012:id:814
    DOI: 10.32609/0042-8736-2012-6-48-64
    as

    Download full text from publisher

    File URL: https://www.vopreco.ru/jour/article/viewFile/814/814
    Download Restriction: no
    File URL: https://libkey.io/10.32609/0042-8736-2012-6-48-64?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nos:voprec:y:2012:id:814. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: NEICON (email available below). General contact details of provider: https://www.vopreco.ru .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.