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 neoliberal ideas failed to assert themselves enduringly. Paradoxically, it can be shown how the neoliberally 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.
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ideas and institutions;
Document Type: Research Article
Faculty of Management and Economics, Witten/Herdecke University, Alfred-Herrhausen-Strasse 50 58448, Witten, Germany
Chair of International Political Economy, Witten Institute for Institutional Change, Faculty of Management and Economics, Witten/Herdecke University, Alfred-Herrhausen-Strasse 50, 58448, Witten, Germany
July 4, 2015
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