engleski

The Challenge of Building Trust in the Emerging Business Culture in Croatia

Our thesis is that former communist countries can not substantially save on transaction costs because economic agents do not trust one another. This trust is not a consequence of rational calculation, but relies on ethical habits that make up what we call a business culture. In this paper we argue that by building up trust the Croatian economy could become more efficient and competitive.

Business Culture; Trust; Croatia; Transaction Costs Theory

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