Hoover Daily Report
Analysis and Commentary
Analysis and Commentary

The New IMF Orthodoxy for Russia Is the Old Protectionism for Africa

by Alvin Rabushka, Michael S. Bernstamvia russianeconomy.org
Tuesday, July 31, 2001

The IMF released its mid-year report on the Russian Federation in July 2001. It recommends a new protectionism modeled on the lines of the old (failed) African policy of import substitution that was prevalent in the 1960s and 1970s.