Akos Rona-Tas and Alya Guseva
- Published in print:
- 2014
- Published Online:
- September 2014
- ISBN:
- 9780804768573
- eISBN:
- 9780804789592
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804768573.003.0008
- Subject:
- Sociology, Economic Sociology
The conclusion highlights the common problems that market makers in all of the countries faced, but it also emphasizes the differential successes and sometimes different paths and sequences of events ...
More
The conclusion highlights the common problems that market makers in all of the countries faced, but it also emphasizes the differential successes and sometimes different paths and sequences of events that accompanied the development of card markets in the eight countries. It also notes that in several of the countries, most unambiguously in China, the central purpose of the card market shifted from providing a tool of convenience to customers to offering an instrument of economic control for the state. The discussion then turns to theoretical issues of social order and market emergence, and emphasized the implications of this analysis for the study of globalization, postcommunist transitions and marketsLess
The conclusion highlights the common problems that market makers in all of the countries faced, but it also emphasizes the differential successes and sometimes different paths and sequences of events that accompanied the development of card markets in the eight countries. It also notes that in several of the countries, most unambiguously in China, the central purpose of the card market shifted from providing a tool of convenience to customers to offering an instrument of economic control for the state. The discussion then turns to theoretical issues of social order and market emergence, and emphasized the implications of this analysis for the study of globalization, postcommunist transitions and markets
Alya Guseva and Akos Rona-Tas
- Published in print:
- 2014
- Published Online:
- September 2014
- ISBN:
- 9780804768573
- eISBN:
- 9780804789592
- Item type:
- book
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804768573.001.0001
- Subject:
- Sociology, Economic Sociology
This book draws on original fieldwork to provide a comparative analysis of emerging credit card markets in eight countries--the Czech Republic, Hungary, Poland, Bulgaria, Russia, Ukraine, China and ...
More
This book draws on original fieldwork to provide a comparative analysis of emerging credit card markets in eight countries--the Czech Republic, Hungary, Poland, Bulgaria, Russia, Ukraine, China and Vietnam. The problem of market emergence is posed as analytically distinct from market functioning. Card markets are viewed as being actively constructed, rather than emerging spontaneously and following the US blueprint. The process of market construction involves solving a set of puzzles related to the credit card as a product that is both a means of payment and an instrument of credit. These puzzles are: standardization, information asymmetry, information sharing, market origination and expansion. They were solved differently in each of the countries, and the resulting markets are neither identical to the “Western” blueprint, nor to each other. The book focuses on the trajectories of market development in the eight countries from the moment the first cards were issued to the present time, underscoring both similarities and differences between countries.Less
This book draws on original fieldwork to provide a comparative analysis of emerging credit card markets in eight countries--the Czech Republic, Hungary, Poland, Bulgaria, Russia, Ukraine, China and Vietnam. The problem of market emergence is posed as analytically distinct from market functioning. Card markets are viewed as being actively constructed, rather than emerging spontaneously and following the US blueprint. The process of market construction involves solving a set of puzzles related to the credit card as a product that is both a means of payment and an instrument of credit. These puzzles are: standardization, information asymmetry, information sharing, market origination and expansion. They were solved differently in each of the countries, and the resulting markets are neither identical to the “Western” blueprint, nor to each other. The book focuses on the trajectories of market development in the eight countries from the moment the first cards were issued to the present time, underscoring both similarities and differences between countries.
