Institutionalizing the Liberal Creed: Economists in Israel’s Long Journey Towards Political-Economic Liberalization

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

This chapter analyzes the role Israeli economists have played as purveyors of pro-market economic ideas and political entrepreneurs of economic liberalization in Israel. Israeli economists were strongly committed to economic liberalism already in the 1950s, but they were lacking decisive political influence. Two mechanisms increased their power over policy. First, long-term institutional changes gradually eroded “political” decision-making mechanism and opened the way to greater involvement of professional economists. This long-term trend was joined and reinforced by economists’ institutional entrepreneurship at the height of the 1980s economic crisis, when they initiated changes of macroeconomic governance. These changes enhanced the political power of the Ministry of Finance and the Bank of Israel and supported the institutionalization of neoliberalism in Israel.
Original languageEnglish
Title of host publicationNeoliberalism as a State Project: Changing the Political Economy of Israel
Subtitle of host publicationChanging the Political Economy of Israel
EditorsAsa Maron, Michael Shalev
Place of PublicationOxford
PublisherOxford University Press
Chapter5
Pages74-90
Number of pages17
ISBN (Print)9780198793021
DOIs
StatePublished - 2017

Keywords

  • Ministry of Finance
  • economic liberalization
  • economists
  • institutional change
  • macroeconomic governance
  • neoliberalism
  • policy
  • political entrepreneurs

RAMBI publications

  • rambi
  • Economic development -- Israel
  • Economists -- Israel
  • Israel -- Economic policy -- 21st century
  • Neoliberalism -- Israel

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