The article analyzes different points of view on the institution of trust. Arguments are made for the need to take into account the level of trust between firms and the state. Based on statistical indicators, a relationship between the trust index and the level of democratization, GDP growth rates and the number of police officers in the country is revealed. The global Eidelman trust index for countries of the world is presented. Russia’s low position on this index (32) is shown. A correlation comparison of the global trust index and the number of police officers per 100 thousand in Russia and abroad is presented. A comparison of the democracy index with the value of the trust index is carried out. Russia stands out from the general pattern. In our country, low commitment to democracy corresponds to low levels of trust. One way to increase trust is to create private digital ecosystems. With the help of the latter, it is expected to reduce transaction costs of making payments and reduce the issuance of guarantees. 49 % of the population trust the government, and 59 % trust digital platforms. In the context of the crisis situation in 2022, pressure on business is increasing. Deprivatization, a high key rate of the Central Bank, a forced increase in nominal wages, an increase in fines, penalties and taxes — all these are factors that give rise to distrust in the policies of the authorities. Conclusions are drawn about ways to grow the Russian economy from the point of view of reducing transaction costs and increasing citizens’ trust in the government. There must be not only economic transformations, but also a reorganization of the political system: the judicial system, the police, and the development of democratic principles of decision-making.

trust index, institutional theory, transaction costs, democracy index, economic growth, police, legitimacy, trust levels, Coase theorem, real GDP

Nikolaychuk O. A., Vishnyakova D. A. The impact of the institution of trust on economic growth: theoretical and applied aspects. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;2(67):95—100. DOI: 10.25683/VOLBI.2024.67.965.