Free Forum for Research on Eastern Europe and Emerging Economies has published an article by Elena Besedina, Senior Economist and Assistant Professor at KSE.
Abstract
In the aftermath of the 2008 financial crisis, many countries experienced a decline in the level of both general trust and trust and confidence in the government and market institutions. Trust is important for economic growth as it facilitates economic transactions by reducing uncertainty and risk. A lack of trust in the government hinders implementation of structural reforms needed for economic development. Hence, policies aimed at rebuilding trust in the government and institutions become especially important for countries like Ukraine.
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