000			01555pab a2200169 454500
008			180718b2000 xxu||||| |||| 00| 0 eng d
100			_aWoodruff, David M.
245			_aRules for followers: institutional theory and the new politics of economic backwardness in Russia
260			_c2000
300			_ap.437-82
362			_aDec
520			_aI investigate contemporary Russia's real, but shallow success in implementing two borrowed capitalist institutions - a monetary system and the joint-stock company. Even though money and shares of stock in Russia are exchanged in voluntary transactions, they fail to play the legal roles ordinarily expected of them, resulting in weak corporate governance and nonmonetary (barter) exchange. Via a criticism of game-theoretic approaches to institutions in the New Institutional Economics, I argue that the roots of this shallow marketization lie in the distinct social foundations of the transactional and legal roles of money and corporate stock. Arguments drawn from sociological institutionalism then illuminate why Russia displays this limited isomorphism to authoritative international models of market institutions. The article concludes by discussing implications for a third body of institutional theory, historical institutionalism, and the possible broader relevance of the pattern of shallow marketization in contemporary relatively backward countries. - Reproduced
650			_aEconomic recession - Russia
650			_aEconomic recession
773			_aPolitics and Society
909			_a48781
999			_c48781 _d48781