ABSTRACT
The work of Susan Strange as a pathbreaking contribution to the field of international political economy has been generally acknowl edged. Surprisingly, given her concern with power relationships, comparative political economists have not taken on board these insights to the same extent. This has more to do with disciplinary sensitivities than with fundamental epistemological differences, in particular, as far as the role of institutions is concerned. Neverthe less, it is possible to reconcile a broadly defined institutionalist perspective with the argument about structural power. In making this point, however, a refinement of the state retreat hypothesis would have to be accepted. The latter follows from tracing the comparative dimension in Strange's work. Her recommendation to compare rather than to contrast in order to identify common trends in any political economy is a reminder of the need to establish a proper balance in analytical terms.
