+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
Russian version 






Finance and Credit

"Trust in institution" vs "Institutional trust"

Vol. 29, Iss. 8, AUGUST 2023

Received: 20 April 2023

Received in revised form: 4 May 2023

Accepted: 18 May 2023

Available online: 30 August 2023

Subject Heading: THEORY OF FINANCE

JEL Classification: B41, B52, D02

Pages: 17601780


Aleksandr A. ZHUK Southern Federal University (SFEDU), Rostov-on-Don, Russian Federation


Dar'ya S. ZAKHAROVA Southern Federal University (SFEDU), Rostov-on-Don, Russian Federation

ORCID id: not available

Subject. This article is devoted to the trust phenomenon misrepresentation within different socio-economics science branches.
Objectives. The article aims to conduct an interdisciplinary analysis of the trust phenomenon given by different branches of social sciences.
Methods. For the study, we used an interdisciplinary approach.
Results. The article reveals different definitions of trust by representatives of the socio-economic group of sciences. This leads to distortions in the perception of the object under study, which we interpret as the effect of interdisciplinary asymmetry. The article shows the process of formation of trust in institution, offers an original definition of the phenomenon of trust as a decision-making factor in a transaction in order to minimize transaction costs.
Conclusions. Trust does not have the characteristics of an economic institution, and in fact it is not. The use of the term institutional trust in the study of trust by economic entities in a particular socio-economic institution is inappropriate. To avoid distorting the essence of the phenomenon under study, we propose the use of the term trust in institution as the most relevant in scientific economic circulation.

Keywords: confidence, institution, institutional analysis, interdisciplinary approach, interdisciplinary asymmetry


  1. Eronov S.K. [Specific manifestation of the trust phenomenon in modern society]. Filosofiya i zhizn' = Philosophy and Life, 2020, no. 4, pp. 2027. (In Russ.)
  2. Rotter J.B. A New Scale for the Measurement of Interpersonal Trust. Journal of Personality, 1967, vol. 35, iss. 4, pp. 651665. URL: Link
  3. Kupreichenko A.B. Psikhologiya doveriya i nedoveriya [Psychology of trust and distrust]. Moscow, Institute of Psychology of RAS Publ., 2008, 569 p.
  4. Gurieva S.D., Borisova M.M. [The trust as a socio-psychological phenomenon]. Vestnik Sankt-Peterburgskogo universiteta. Seriya 12. Psikhologiya. Sotsiologiya. Pedagogika = Vestnik of St. Petersburg University. Series 12. Psychology. Sociology. Education, 2014, no. 4, pp. 126136. URL: Link (In Russ.)
  5. Aquinas Th. Summa teologii [Summa Theologiae]. Kiev, El'ga, Moscow, Nika-Tsentr Publ., 2006, 571 p.
  6. Zhalinskii A.E. [Models of criminal law: social control, trust, coercion]. Pravo i politika = Law and Politics, 2012, no. 4, pp. 624629. (In Russ.) URL: Link
  7. Tikhonova Zh.K. [On the question of trust in law]. Voprosy ekonomiki i prava, 2019, no. 1, pp. 79. (In Russ.) URL: Link
  8. Bykova O.E. [The phenomenon of trust in the philosophy of Adam Seligmen]. Eticheskaya mysl' = Ethical Thought, 2020, vol. 20, no. 1, pp. 130141. URL: Link (In Russ.)
  9. Aleshin S.V. [Trust as a socio-philosophical category]. Nauchnaya mysl' Kavkaza, 2010, no. 3, pp. 3540. (In Russ.) URL: Link
  10. Rybchak P.N. [Trust as a category of political analysis]. Upravlencheskoe konsul'tirovanie = Administrative Consulting, 2015, no. 9, pp. 164174. URL: Link (In Russ.)
  11. Myshlyaeva T.V. [Trust in modern society: approaches to analysis]. Vestnik Nizhegorodskogo universiteta im. N.I. Lobachevskogo. Seriya: Sotsial'nye nauki = Vestnik of Lobachevsky State University of Nizhny Novgorod. Series: Social Sciences, 2006, no. 1, pp. 301307. URL: Link (In Russ.)
  12. Ivanov A.V. [Social order and axiological-communicative mechanisms of generalized trust]. Fundamental'nye issledovaniya = Fundamental Research, 2015, no. 2, part 17, pp. 38833888. URL: Link (In Russ.)
  13. Grigorenko B.Yu. [Trust as a subject of sociological analysis: the sociocultural aspect]. Znanie. Ponimanie. Umenie, 2013, no. 1, pp. 254259. (In Russ.) URL: Link
  14. Artamonova Ya.S. [Stability of economic relations and the destruction of the institution of trust (sociological analysis)]. T-Comm, 2014, vol. 8, no. 7, pp. 710. (In Russ.) URL: Link
  15. Trofimova I.N. [Institutional trust in the modern Russian society: causes and factors]. Politika i obshchestvo = Politics and Society, 2017, no. 9, pp. 111. (In Russ.) URL: Link
  16. Alekseeva A.Yu. [Confidence, social and interpersonal trust: criteria of distinction]. Yuzhno-rossiiskii zhurnal sotsial'nykh nauk = South-Russian Journal of Social Sciences, 2007, no. 4, pp. 420. URL: Link (In Russ.)
  17. Zvonovskii V.B. [Everyday inter-individual impersonal trust as a business activities factor]. Mir Rossii = Universe of Russia, 2007, vol. 16, no. 2, pp. 133151. (In Russ.) URL: Link
  18. Vakhtina M.A. [Whether the trust is sign of institute?]. Journal of Economic Regulation (Voprosy regulirovaniya ekonomiki), 2018, vol. 9, no. 3, pp. 2236. URL: Link (In Russ.)
  19. Vazhenin S.G., Sukhikh V.V. [Architecture of trust in economics]. Zhurnal ekonomicheskoi teorii = Journal of Economic Theory, 2010, no. 3, pp. 2234. URL: Link (In Russ.)
  20. Nikolaev I., Efimov S., Marushkina E. [Trust as an economic category]. Obshchestvo i ekonomika = Society and Economy, 2006, no. 1, pp. 75104. (In Russ.)
  21. Kalyuzhnova N.Ya. [Economy of distrust (the institute of trust and its role in the regional competitiveness)]. Ekonomika regiona = Economy of Region, 2014, no. 1, pp. 5665. URL: Link (In Russ.)
  22. Svetovtseva T.A. [Institute of trust in the development of the banking system]. Izvestiya YuZGU. Seriya: Ekonomika. Sotsiologiya. Menedzhment = Proceedings of Soutwest State University. Series: Economics, Sociology and Management, 2013, no. 1, pp. 175183. URL: Link (In Russ.)
  23. Gur'yanov P.A. [Institute of trust and institutional problems in building an innovative economy in Russia]. NIU ITMO. Seriya: Ekonomika i ekologicheskii menedzhment = NRU ITMO. Series: Economics and Environmental Management, 2021, no. 3, pp. 3546. URL: Link (In Russ.)
  24. Lignovskaya T.A., Sazanova S.L. [Institute of trust as the basis of modern economy]. Vestnik Universiteta, 2015, no. 13, pp. 285290. URL: Link (In Russ.)
  25. Reutov V.E., Kravchenko L.A., Gindes E.G. [Trust as an institutional factor of the quality of government management of the economy]. Uchenye zapiski Krymskogo inzhenerno-pedagogicheskogo universiteta, 2019, no. 2, pp. 191196. URL: Link (In Russ.)
  26. Mart'yanov V.S. [The institutional trust as an economic resource: incentives and obstacles of efficiency]. Journal of Institutional Studies, 2018, vol. 10, no. 1, pp. 4158. URL: Link (In Russ.)
  27. Tokareva S.B., Golub' O.V. [Institutional trust in the educational space]. Fundamental'nye issledovaniya = Fundamental Research, 2014, no. 11, part 8, pp. 18601863. URL: Link (In Russ.)
  28. Yaroshenko G.V., Reva A.S., Tur A.D. [Institutional trust in student youth evaluations]. Gosudarstvennoe i munitsipal'noe upravlenie. Uchenye zapiski = State and Municipal Administration. Scientific Notes, 2021, no. 3, pp. 248253. URL: Link (In Russ.)
  29. Shorina I.N. [Institutional trust in modern Russian society (regional aspect)]. Vestnik TGU = Tambov University Review. Series: Humanities, 2013, no. 8, pp. 271274. URL: Link (In Russ.)
  30. Marx K., Engels F. Sochineniya [Essays: in 30 vols. 2nd ed.]. Moscow, Gospolitizdat Publ., 1954, vol. 27, pp. 408409.
  31. Tambovtsev V.L. [Institutes in sociology, political science and jurisprudence: an economist's view]. Obshchestvennye nauki i sovremennost' = Social Sciences and Modernity, 2015, no. 1, pp. 115126. (In Russ.)
  32. Mikhaleva K.Yu., Polyakova N.L. [The concept of the social institution in the sociological theory]. Vestnik Moskovskogo universiteta. Seriya 18. Sotsiologiya i politologiya = Moscow State University Bulletin. Series 18. Sociology and Political Science, 2012, no. 2, pp. 117132. URL: Link (In Russ.)
  33. Durkheim É. Sotsiologiya. Ee predmet, metod, prednaznachenie [The Rules of Sociological Method. 4th ed.]. Moscow, Kanon Publ., 1995, 349 p.
  34. Parsons T. [The Social System]. Voprosy sotsial'noi teorii, 2008, vol. II, iss. 1, pp. 3871. URL: Link (In Russ.)
  35. Shchepan'skii Ya. Elementarnye ponyatiya sotsiologii [Elementary concepts of sociology]. Moscow, Progress Publ., 1969, 237 p.
  36. Leiman I.I. Nauka kak sotsial'nyi institute [Science as a social institution]. Leningrad, Nauka Publ., 1971, 177 p.
  37. Dal' R. O demokratii [On democracy]. Moscow, Aspent press Publ., 2000, 203 p.
  38. Goodin R. (Ed.). The Theory of Institutional Design. Cambridge, Cambridge University Press, 1996, 288 p.
  39. March J.G., Olsen J.P. Elaborating the New Institutionalism. In: Binder S.A., Rhodes R.A.W., Rockman B.A. (eds) The Oxford Handbook of Political Institutions. Oxford Academic, 2009, pp. 320. URL: Link
  40. Campbell J.L. Institutional Change and Globalization. Princeton, Princeton University Press, 2004, 264 p.
  41. Abramov A.V. [Political Institute and political institutionalization: defining the concepts]. Vlast' = The Authority, 2010, no. 5, pp. 5355. URL: Link (In Russ.)
  42. Summers R.S. Form and Function in Discrete Legal Units and in a Legal System as a Whole. Rechtsfilosofie & Rechtstheorie, 2005, vol. 34, no. 1, pp. 822. URL: Link
  43. Alekseev S.S. Voskhozhdenie k pravu. Poiski i resheniya [Ascent to Law. Searches and solutions]. Moscow, Norma Publ., 2002, 752 p.
  44. Ruiter D.W.P. A Basic Classification of Legal Institutions. Ratio Juris, 1997, vol. 10, iss. 4, pp. 357371. URL: Link
  45. Veblen T. Teoriya prazdnogo klassa [The Theory of the Leisure Class: An Economic Study of Institutions]. Moscow, Progress Publ., 1984, 367 p.
  46. Commons J.R. Institutional Economics. The American Economic Review, 1931, vol. 21, no. 4, pp. 648657. URL: Link
  47. Hodgson G.M. What are Institutions? Journal of Economic Issues, 2006, vol. 40, no. 1, pp. 125. URL: Link
  48. North D.C. Instituty, institutsional'nye izmeneniya i funktsionirovanie ekonomiki [Institutions, Institutional Change and Economic Performance]. Moscow, Fond ekonomicheskoi knigi Nachala Publ., 1997, 180 p.
  49. Melikhov V.Yu. [Economic institutions: essence, content, concept]. Sotsial'no-ekonomicheskie yavleniya i protsessy = Socio-Economic Phenomena and Processes, 2011, no. 9, pp. 118122. (In Russ.)
  50. Williamson O.E. Ekonomicheskie instituty kapitalizma: Firmy, rynki, otnoshencheskaya kontraktatsiya [The Economic Institutions of Capitalism. Firms, Markets, Relational Contracting]. St. Petersburg, Lenizdat Publ., 1996, 702 p.

View all articles of issue


ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 29, Iss. 9
September 2023