IDEAS home Printed from https://ideas.repec.org/a/taf/rripxx/v20y2013i3p421-456.html
   My bibliography  Save this article

The profits of power: Commerce and realpolitik in Eurasia

Author

Listed:
  • Rawi Abdelal

Abstract

Although the energy trade is the single most important element of nearly all European countries' relations with Russia, Europe has been divided by both worldview and practice. Why, in the face of the common challenge of dependence on imported Russian gas, have national reactions to such vulnerability varied so dramatically across the continent? And why have a handful of French, German, and Italian corporations somehow taken responsibility for formulating the energy strategy - and thus the Russia policy - for essentially all of Europe? The resolutions of these two puzzles are, I show, interlinked; they also demand theoretical innovation. With several case studies - of Gazprom's decision-making during the 2006 and 2009 gas crises, and of the response of western and central Europe to their gas dependence - I find that: firms are driving these political outcomes; those firms are motivated by profits but employ sociological conventions along their ways; and firms generally seek the necessary inter-firm, cross-border cooperation that will deliver corporate performance. Finally, I conclude that the field will ultimately require a framework that puts firms at its center.

Suggested Citation

  • Rawi Abdelal, 2013. "The profits of power: Commerce and realpolitik in Eurasia," Review of International Political Economy, Taylor & Francis Journals, vol. 20(3), pages 421-456, June.
  • Handle: RePEc:taf:rripxx:v:20:y:2013:i:3:p:421-456
    DOI: 10.1080/09692290.2012.666214
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09692290.2012.666214
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/09692290.2012.666214?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Herrigel, Gary, 2010. "Manufacturing Possibilities: Creative Action and Industrial Recomposition in the United States, Germany, and Japan," OUP Catalogue, Oxford University Press, number 9780199557738, November.
    2. Vasilev, Aleksandar & Maksumov, Rashid, 2010. "Critical analysis of Chapter 23 of Keynes’s Notes on Mercantilism in The General Theory of Employment, Interest and Money (1936)," EconStor Research Reports 155318, ZBW - Leibniz Information Centre for Economics.
    3. Cornelia Woll, 2008. "Firm Interests: How Governments Shape Business Lobbying on Global Trade," Post-Print hal-02183956, HAL.
    4. Stern, Jonathan, 2005. "The Future of Russian Gas and Gazprom," OUP Catalogue, Oxford University Press, number 9780197300312, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dastan, Seyit Ali, 2018. "Negotiation of a cross-border natural gas pipeline: An analytical contribution to the discussions on Turkish Stream," Energy Policy, Elsevier, vol. 120(C), pages 749-760.
    2. Belyi, Andrei V., 2016. "Why is the oil price not about equilibrium?: An economic sociology account of petroleum markets," Energy Policy, Elsevier, vol. 96(C), pages 45-49.
    3. Austvik, Ole Gunnar, 2016. "The Energy Union and security-of-gas supply," Energy Policy, Elsevier, vol. 96(C), pages 372-382.
    4. Babic, Milan & Dixon, Adam & Fichtner, Jan, 2021. "Varieties of state capital: What does foreign state-led investment do in a globalized world?," OSF Preprints tm82g, Center for Open Science.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abdelal Rawi, 2015. "The multinational firm and geopolitics: Europe, Russian energy, and power," Business and Politics, De Gruyter, vol. 17(3), pages 553-576, October.
    2. Rawi Abdelal, 2010. "The Profits of Power: Commercial Realpolitik in Europe and Eurasia," Harvard Business School Working Papers 11-028, Harvard Business School, revised Mar 2011.
    3. Timothy Erickson & Toni M. Whited, 2000. "Measurement Error and the Relationship between Investment and q," Journal of Political Economy, University of Chicago Press, vol. 108(5), pages 1027-1057, October.
    4. Lloyd Ulman, 1992. "Why Should Human Resource Managers Pay High Wages?," British Journal of Industrial Relations, London School of Economics, vol. 30(2), pages 177-212, June.
    5. V. Ragupathy & Stefano Zambelli & K. Vela Velupillai, 2013. "A Non-linear Model of the Trade Cycle: Mathematical Reflections on Hugh Hudson's Classic," Australian Economic Papers, Wiley Blackwell, vol. 52(2), pages 115-125, June.
    6. Hany Shawky & Ronald Forbes & Alan Frankle, 1983. "Liquidity Services and Capital Market Equilibrium: The Case for Money Market Mutual Funds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 6(2), pages 141-152, June.
    7. Hideaki Aoyama & Hiroshi Yoshikawa & Hiroshi Iyetomi & Yoshi Fujiwara, 2008. "Labour Productivity Superstatistics," Papers 0809.3541, arXiv.org.
    8. Ben Clift, 2012. "Comparative Capitalisms, Ideational Political Economy and French Post- Dirigiste Responses to the Global Financial Crisis," New Political Economy, Taylor & Francis Journals, vol. 17(5), pages 565-590, November.
    9. Ulrich van Suntum, "undated". "The Purchasing Power Argument – Could Rising Wages Foster Employment?," Working Papers 200126, Institute of Spatial and Housing Economics, Munster Universitary.
    10. Catherine Locatelli, 2013. "Les voies de la réforme du secteur gazier russe," Post-Print halshs-00822857, HAL.
    11. P. Arestis & C. Driver, 1984. "The Policy Implications of Post Keynesianism," Journal of Economic Issues, Taylor & Francis Journals, vol. 18(4), pages 1093-1105, December.
    12. Paul Davidson, 1986. "The Simple Macroeconomics of a Nonergodic Monetary Economy versus a Share Economy: Is Weitzman’s Macroeconomics Too Simple?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(2), pages 212-225, December.
    13. Evelyn L. Forget & Shahram Manouchehri, 1988. "Keynes’s Neglected Heritage: The Classical Microfoundations of The General Theory," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 10(3), pages 401-413, March.
    14. Pontus Rendahl, 2014. "Fiscal Policy in an Unemployment Crisis," Cambridge Working Papers in Economics 1456, Faculty of Economics, University of Cambridge.
    15. Kenneth Kasa, 2000. "Forecasting the Forecasts of Others in the Frequency Domain," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(4), pages 726-756, October.
    16. Paul Davidson, 1985. "Liquidity and Not Increasing Returns is the Ultimate Source of Unemployment Equilibrium," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 7(3), pages 373-384, March.
    17. Michael Bordo & Andrew Filardo, 2005. "Deflation and monetary policy in a historical perspective: remembering the past or being condemned to repeat it?," Economic Policy, CEPR;CES;MSH, vol. 20(44), pages 799-844, October.
    18. Masaaki Shirakawa, 2010. "Revisiting the Philosophy behind Central Bank Policy," International Finance, Wiley Blackwell, vol. 13(3), pages 485-493, December.
    19. Miguel D. Ramirez, 2020. "Capital as a social process: A Marxian perspective," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 9(1), pages 41-71.
    20. Kai Jäger, 2013. "Sources of Franco-German corporate support for the euro: The effects of business network centrality and political connections," European Union Politics, , vol. 14(1), pages 115-139, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rripxx:v:20:y:2013:i:3:p:421-456. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: http://www.tandfonline.com/rrip20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rrip20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.