IDEAS home Printed from https://ideas.repec.org/p/ost/wpaper/339.html
   My bibliography  Save this paper

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_339.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sutela,Pekka, 1991. "Economic Thought and Economic Reform in the Soviet Union," Cambridge Books, Cambridge University Press, number 9780521389020.
    2. Schmidt, Vivien A., 2012. "A Curious Constructivism: A Response to Professor Bell," British Journal of Political Science, Cambridge University Press, vol. 42(3), pages 705-713, July.
    3. Bell, Stephen, 2011. "Do We Really Need a New ‘Constructivist Institutionalism’ to Explain Institutional Change?," British Journal of Political Science, Cambridge University Press, vol. 41(4), pages 883-906, October.
    4. Zoega, Gylfi & Herbertsson, Tryggvi Thor & Skuladottir, Marta, 2000. "Three Symptoms And A Cure: A Contribution To The Economics Of The Dutch Disease," CEPR Discussion Papers 2364, C.E.P.R. Discussion Papers.
    5. Sutela,Pekka, 1991. "Economic Thought and Economic Reform in the Soviet Union," Cambridge Books, Cambridge University Press, number 9780521380201.
    6. Arthur T. Denzau & Douglass C. North, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31, February.
    7. Joachim Zweynert, 2007. "Conflicting patterns of thought in the Russian debate on transition: 1992 – 2002," Europe-Asia Studies, Taylor & Francis Journals, vol. 59(1), pages 47-69.
    8. Alexander Libman & Joachim Zweynert, 2014. "Ceremonial Science: The State of Russian Economics Seen Through the Lens of the Work of ‘Doctor of Science’ Candidates," Working Papers 337, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    9. Bruno Merlevede & Koen Schoors & Bas Van Aarle, 2009. "Russia from Bust to Boom and Back: Oil Price, Dutch Disease and Stabilisation Fund," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 51(2), pages 213-241, June.
    10. E. Gurvich & E. Vakulenko & P. Krivenko., 2009. "Cyclical Properties of Fiscal Policy in Oil-Producing Countries," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
    11. Sergey Drobyshevsky, 2011. "Russian Soveriegn Wealth Funds," Published Papers 1, Gaidar Institute for Economic Policy, revised 2011.
    12. Libman, Alexander & Zweynert, Joachim, 2014. "Ceremonial science: The state of Russian economics seen through the lens of the work of ‘Doctor of Science’ candidates," Economic Systems, Elsevier, vol. 38(3), pages 360-378.
    13. Corden, W M, 1984. "Booming Sector and Dutch Disease Economics: Survey and Consolidation," Oxford Economic Papers, Oxford University Press, vol. 36(3), pages 359-380, 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. Iuliia Platonova & Maksim Tcvetkov & Olga Chkalova & Marina Efremova, 2017. "The Mechanism of CSR Beliefs Dissemination: From Idea to Institution or Vice Versa," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 65-89.

    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. Zweynert, Joachim, 2005. "Economic Ideas and Institutional Change: Evidence from Soviet Economic Discourse 1987-1991," Discussion Paper Series 26276, Hamburg Institute of International Economics.
    2. Libman, Alexander & Zweynert, Joachim, 2014. "Ceremonial science: The state of Russian economics seen through the lens of the work of ‘Doctor of Science’ candidates," Economic Systems, Elsevier, vol. 38(3), pages 360-378.
    3. Zweynert, Joachim, 2006. "Conflicting Patterns of Thought in the Russian Debate on Transition: 1992-2002," HWWA Discussion Papers 345, Hamburg Institute of International Economics (HWWA).
    4. Gylfason, Thorvaldur, 2001. "Natural resources, education, and economic development," European Economic Review, Elsevier, vol. 45(4-6), pages 847-859, May.
    5. Thorvaldur Gylfason & Gylfi Zoega, 2006. "Natural Resources and Economic Growth: The Role of Investment," The World Economy, Wiley Blackwell, vol. 29(8), pages 1091-1115, August.
    6. Brock, Gregory, 2015. "The informal economy of Rostov Oblast on the eve of the Ukrainian refugee crisis," Journal of Policy Modeling, Elsevier, vol. 37(5), pages 789-803.
    7. Ganiev, Ibragim & Djanibekov, Nodir & Hasanov, Shavkat & Petrick, Martin, 2017. "The state of doctoral research in Uzbekistan: Results of a survey of doctoral students in agricultural economics," IAMO Discussion Papers 259805, Institute of Agricultural Development in Transition Economies (IAMO).
    8. Studenna-Skrukwa Marta, 2023. "The One that Wasn’t: Child and Youth Labour in the Post-Stalin Era in the Soviet Union," Studia Historiae Oeconomicae, Sciendo, vol. 41(2), pages 103-126, December.
    9. Michael Alexeev & Clifford Gaddy & Jim Leitzel, 1992. "Economics in the Former Soviet Union," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 137-148, Spring.
    10. Elissaios Papyrakis & Reyer Gerlagh, 2004. "Resource-Abundance and Economic Growth in the U.S," Working Papers 2004.62, Fondazione Eni Enrico Mattei.
    11. Schmelzer, Matthias, 2015. "The growth paradigm: History, hegemony, and the contested making of economic growthmanship," Ecological Economics, Elsevier, vol. 118(C), pages 262-271.
    12. Papyrakis, Elissaios & Gerlagh, Reyer, 2007. "Resource abundance and economic growth in the United States," European Economic Review, Elsevier, vol. 51(4), pages 1011-1039, May.
    13. Alexander Libman & Joachim Zweynert, 2014. "Ceremonial Science: The State of Russian Economics Seen Through the Lens of the Work of ‘Doctor of Science’ Candidates," Working Papers 337, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    14. Thorvaldur Gylfason & Gylfi Zoega, 2017. "The Dutch Disease in Reverse: Iceland's Natural Experiment," CESifo Working Paper Series 6513, CESifo.
    15. A. Shastitko E. & A. Zyubina L. & А. Шаститко Е. & А. Зюбина Л., 2019. "Управление экономическими исследованиями в российских вузах: наукометрия и международные рейтинги // Management of Economic Research in Russian Universities: Scientometrics and International Rankings," Мир новой экономики // The world of new economy, Финансовый университет при Правительстве Российской Федерации // Financial University under The Governtment оf The Russian Federation, vol. 13(3), pages 112-126.
    16. James Dawson & Seán Hanley, 2019. "Foreground Liberalism, Background Nationalism: A Discursive‐institutionalist Account of EU Leverage and ‘Democratic Backsliding’ in East Central Europe," Journal of Common Market Studies, Wiley Blackwell, vol. 57(4), pages 710-728, July.
    17. Thorvaldur Gylfason, 2001. "Nature, Power and Growth," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(5), pages 558-588, November.
    18. Zweynert, Joachim, 2007. "Interests versus culture in the theory of institutional change?," HWWI Research Papers 5-3, Hamburg Institute of International Economics (HWWI).
    19. repec:zbw:iamodp:259805 is not listed on IDEAS
    20. Thorvaldur Gylfason & Gylfi Zoega, 2014. "The Dutch Disease in Reverse: Iceland’s Natural Experiment," OxCarre Working Papers 138, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    21. Edouard Mien & Michaël Goujon, 2022. "40 Years of Dutch Disease Literature: Lessons for Developing Countries," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 64(3), pages 351-383, September.

    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)

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:ost:wpaper:339. See general information about how to correct material in RePEc.

    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: Kseniia Gatskova (email available below). General contact details of provider: https://edirc.repec.org/data/osteide.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.