Однако, отсутствие четкой системы и

Однако, отсутствие четкой системы институтов, породили так называемый «серый рынок».

Results (English) 1:

However, the lack of a clear system of institutions created the so-called "grey market".

Results (English) 2:

However, the lack of a clear system of institutions gave rise to the so-called "gray market".

Results (English) 3:

However, the absence of a clear the system of institutions, have created the so-called "gray market".