Into the Red

The Birth of the Credit Card Market in Postcommunist Russia

Alya Guseva

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Hardback

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English

Stanford University Press
01 April 2008

Sociology & anthropology; Credit & credit institutions

Into the Red explores the emergence of a credit card market in post-Soviet Russia during the formative period from 1988 to 2007. In her analysis, Alya Guseva locates the dynamics of market building in the social structure, specifically the creative use of social networks.

Until now, network scholars have overlooked the role that networks play in facilitating exchange in mass markets because they have exclusively focused on firm-to-firm or person-to-person ties. Into the Red demonstrates how networks that combine individuals and organizations help to build markets for mass consumption. The book is situated on the cutting edge of emerging interdisciplinary research, linking multiple layers of analysis with institutional evolution. Using an intricate framework, Guseva chronicles both the creation of a credit card market and the making of a mass consumer. These processes are placed in the context of the ongoing restructuring in postcommunist Russia and the expansion of Western markets and ideologies through the rest of the world.

By: Alya Guseva
Imprint: Stanford University Press
Country of Publication: United States
Edition: New edition
Dimensions: Height: 229mm, Width: 152mm, Spine: 458mm
Weight: 431g
ISBN: 9780804758383
ISBN 10: 0804758387
Pages: 218
Publication Date: 01 April 2008
Audience: College/higher education , Professional and scholarly , Professional & Vocational , A / AS level , Further / Higher Education
Format: Hardback
Publisher's Status: Active

Alya Guseva is Assistant Professor of Sociology at Boston University. Her work explores the role of networks, institutions, and culture in the development of mass financial markets in the postcommunist world.

Reviews for Into the Red: The Birth of the Credit Card Market in Postcommunist Russia

The book makes an important contribution to literature on globalization and the impact of the market economy. Her analysis of consumers, banks and credit agencies is made even more significant in light of the way in which unmanageable debt appears so closely linked to the current global economic collapse. - Michael P. Sacks, International Review of Modern Sociology Guseva's clear and accessible account of the Russian experience, based on both written sources and semi-structured interviews that she conducted in Moscow between 1998 and 2005, should hold great appeal. Other readers will likely enjoy the book for the historical perspective and organizational insights it provides into the financial instrument whose use is so widespread - and whose function so central - in economies like that of the U.S. that its existence is simply taken for granted. - Bennet A. Zelner, Duke University Guseva's excellent study of the credit card market in Russia reaffirms the argument against the free market approach to changes taking place in Russia. Markets are not established as a result of announcements, but rather as a process requiring the co-development of necessary institutions, Guseva reminds the reader. ... The clear, persuasive writing style entails some prior knowledge of economic sociology. - CHOICE Alya Guseva proves herself as a serious scholar matching intellectual depth with careful detail. Analysis of market creation and institutional emergence demands the fieldwork and creativity that few like Guseva displays. Into the Red will make a significant contribution to institutional change and market creation in general, in emerging markets, and, especially, in postcommunist countries. - Gerald McDermott, Wharton School, University of Pennsylvania Alya Guseva's excellent book Into the Red represents the first full-length scholarly analysis of postcommunist credit card markets. Drawing on unique and extensive field research in Russia, Guseva convincingly demonstrates why the Russian credit card market has evolved so differently from that of the United States and other capitalist economies. I highly recommend it for anyone interested in gaining a deeper understanding of contemporary postcommunist financial systems. - Juliet Johnson, McGill University