More from the Author

• Chapter | Protean Power | 2018

  Firms in Firmament: Hydrocarbons and the Circulation of Power

  Rawi Abdelal

  Citation:

  Abdelal, Rawi. "Firms in Firmament: Hydrocarbons and the Circulation of Power." In Protean Power: Exploring the Uncertain and Unexpected in World Politics, edited by Peter J. Katzenstein and Lucia A. Seybert, 147–165. Cambridge Studies in International Relations. Cambridge, UK: Cambridge University Press, 2018.  View Details

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• Case | HBS Case Collection | April 2011 (Revised December 2017)

  Latvia: Navigating the Strait of Messina

  Rafael Di Tella, Rawi Abdelal and Natalie Kindred

  This case describes Latvia's transition from a Soviet republic into an EU member, its economic boom and subsequent bust in 2008, and its policy response. After implementing significant economic and political reforms in order to qualify for EU membership in 2004, Latvia had turned its sights toward joining the single-currency eurozone, pegging its currency to the euro in 2005 as a step toward that goal. From 2000 to 2007, Latvia achieved faster GDP growth than any EU state. However, when large inflows of capital suddenly dried up in 2008, Latvia had to obtain a financial rescue package from the IMF, World Bank, EU, and several regional countries in order to avoid a full-blown financial and currency crisis. Latvia then adopted an aggressive economic adjustment program centered on maintaining its currency peg, which meant competitiveness would have to be restored by reducing domestic prices, wages, and public expenditures in order to drive down the real exchange rate. Latvia's policy program and initial results are discussed in the case.

  Keywords: Currency Exchange Rate; Competitive Strategy; Economic Growth; Policy; Financial Crisis; Economic Slowdown and Stagnation; Latvia;

  Citation:

  Di Tella, Rafael, Rawi Abdelal, and Natalie Kindred. "Latvia: Navigating the Strait of Messina." Harvard Business School Case 711-053, April 2011. (Revised December 2017.)  View Details

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• Case | HBS Case Collection | March 2010 (Revised October 2017)

  Russia: Revolution and Reform

  Rawi E. Abdelal and Sogomon Tarontsi

  The collapse of central authority in the Soviet Union in 1991 ushered in a period of revolutionary transformations for the states that emerged in its wake. The leaders of Russia, the USSR's successor, since then have struggled to reestablish central authority while seeking to avoid further disintegration, establish a democratic polity, and institute a market economy. The case contrasts different approaches adopted by Presidents Boris Yeltsin and Vladimir Putin and concludes with a vision outlined by Russia's third post-Soviet president, Dmitry Medvedev. The case focuses on problems of state authority, fiscal capacity, institutionalization of political parties, relations between the federal center and provincial governments, relations between the state and big business, economic policy, and models of economic development.

  Keywords: Development Economics; Economic Systems; Government Administration; Business and Government Relations; Public Administration Industry; Russia;

  Citation:

  Abdelal, Rawi E., and Sogomon Tarontsi. "Russia: Revolution and Reform." Harvard Business School Case 710-030, March 2010. (Revised October 2017.)  View Details

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