Consumers' perceptions of functional foods are complicated by perceived risks and complexity that appear from growing and sometimes confusing information flow. Social trust can serve as a mean for the reduction of risk and complexity. It is thus vital to understand the sources of distrust and food‐neophobia as well as coping mechanisms used by consumers to ensure food provision and safety. We discuss the results of a qualitative inquiry in the form of focus groups into consumers' perceptions of functional foods in Russia and Germany. Altogether eight focus group interviews were carried out in different parts of Russia and Germany in December–January 2012–2013. A total of 59 people participated in the discussions. Different perspectives provided by the discussions in the two countries indicate different levels of trust. Deeper culturally embedded and wider‐spread distrust in formal institutions in Russia pushes consumers towards developing informal networks to ensure food provision and safety. It leads to high levels of food‐neophobia as consumers perceive traditions as the most important guarantee for healthy food. On the other hand, German participants indicate a number of formal institutions that are trustworthy and through which information concerning novel and healthy attributes in foods can be communicated. We provide exploratory views on the importance of social trust in consumers' perceptions of functional foods and lay out mechanisms that consumers develop to deal with increasing risk and complexity in food choices.

This study provides insights on urban Russian consumers' attitudes and perceptions toward organic food, as well as factors that facilitate or prevent them from purchasing these products. We adopted an exploratory mixed-method approach, using a combination of qualitative and quantitative investigations undertaken in Saint Petersburg, Russia. Our results suggest that organic food consumption is mainly motivated by personal well-being and less by social or environmental concerns. Most participants perceive organic food as higher quality products, based upon which they show an acceptance of a price premium for organic food. The group of organic food consumers in our study relies on organic agriculture as one possible strategy to cope with food safety problems. The presence of strict standards for organic food, the trustworthiness of foreign certifications and the perceived higher quality of foreign products (especially from Europe) are perceived together as a safety guarantee. Our results further indicate that the widespread confusion regarding product recognition represents an important obstacle for organic food consumption growth. Implementing a coherent legislative framework to allow product labeling is apparently crucial yet not sufficient for developing the organic sector in Russia; moreover, trust in food labeling and control systems as well as awareness about organic standards is also required. [EconLit citations: Q01; Q13; Q18]. C 2015 Wiley Periodicals, Inc.

This article analyzes the existing literature on consumers’ marginal willingness to pay (MWTP) for health benefits in food products. Results indicate that the presence of a health claim does not only increase MWTP for health benefits in foods but also reduces heterogeneity among MWTP estimates. Hypothetical methods significantly positively affect MWTP. The most popular product category “dairy” negatively influences MWTP. The popular health claim of “lowering cholesterol” has a significantly positive influence on MWTP. In addition, our review highlights that existing studies significantly differ in their setup, which renders the inference of clear‐cut conclusions rather problematic.

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Purpose -The purpose of this paper is to construct a financial development index for China and to analyze the relationship between the financial sector development index and economic growth. Design/methodology/approach -This study uses Johansen-Juselius cointegration approach to determine long run relationship between variables. To determine the strength of causal relationship variance decomposition is used. The stability of coefficient is evaluated through rolling window regression method. Findings -The results of Johansen-Juselius cointegration approach confirm long run relationship between financial development index and economic growth. Normalized cointegrating vector indicates that financial development index, real interest rate, capital and labor force positively determine economic growth in China. The yearly coefficient is provided by the rolling regression and indicates that financial development index negatively link to economic

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