Institutions: From Import to Raising (Lessons from the Russian Reforms and Opportunities for Cultivation of Institutional Change)

Abstract

Estimating the outcomes of the Russian reforms, the authors suggest the idea of raising of institutions. This insight opposes to the concept of radical institutional changes and the concept of strong institutional inertia. An approach to institutional reforms which is confined to the adoption of "good laws" is criticized. It is pointed out that special continuous efforts should be made for achieving embeddedness of new institutions, diminishing institutional gaps, providing institutional complementarity, and building up a balance of social forces to ensure the success of institutional reforms.