Chapter

Romania’s Disembedded Neoliberalism

Cornel Ban

in Ruling Ideas

Published in print August 2016 | ISBN: 9780190600389
Published online August 2016 | e-ISBN: 9780190600419 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780190600389.003.0003
Romania’s Disembedded Neoliberalism

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Romania was one of the few postcommunist countries where neoliberal ideas and policies were slow to take root soon after 1989. However, once they did, they acquired a remarkable tendency to become radicalized and obliterate social cohesion concerns. Conventional approaches emphasizing a combination of external coercion, market competition, and domestic institutions fail to explain this disembedded neoliberalism. Instead, the answer can be found in the fact that central bank economists, influential academics, and think tanks resorted to the hybridization of the global neoliberalism du jour with more radical (and marginal) varieties, including select ideas from the quill of economic libertarianism. The relative success of these ideas in policy circles was enabled more by international coercion than by the institutional cohesion of the policy process.

Keywords: disembedded neoliberalism; postcommunism; conditionality; competition; Washington Consensus; transition; shock therapy; gradualism; developmentalism; Romania

Chapter.  13892 words. 

Subjects: Political Economy ; International Relations

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