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Economic Ideas and Institutional Change: The Case of the Russian Stabilisation Fund

Author

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  • Ewa Dabrowska

    (University of Erfurt, Hamburg Institute of International Economics)

  • Joachim Zweynert

Abstract

An intense discussion is taking place in International Political Economy on the influence of economic ideas on institutional change. Case studies so far have, however, mainly focused on the Western industrialised countries and research seems to be biased towards cases in which new ideas caused lasting institutional change. The present paper addresses these two shortcomings by analysing the case of the Russian Stabilisation Fund (SF). This case is an example both of the impact of global ideas on a non-Western emerging country and of a ‘near miss’ in the sense that imported neo-liberal ideas failed to assert themselves enduringly. Paradoxically, it can be shown how the neo-liberally based idea of the SF even contributed to the return to Soviet patterns of industrial policy. The main reason for this, we argue, is that the Fund’s implementation was not preceded by economic and political debates. Accordingly, the imported institution of the SF had to be filled with ideational content after its implementation.

Suggested Citation

  • Ewa Dabrowska & Joachim Zweynert, 2014. "Economic Ideas and Institutional Change: The Case of the Russian Stabilisation Fund," Working Papers 339, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    • Handle: RePEc:ost:wpaper:339
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    References listed on IDEAS

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    1. Sutela,Pekka, 1991. "Economic Thought and Economic Reform in the Soviet Union," Cambridge Books, Cambridge University Press, number 9780521389020.
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    More about this item

    Keywords

    Ideas and institutions; institutional transfer; policy-learning; Russia; stabilisation fund; bricolage;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)

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