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No. 76                 Quarterly Publication of EACES               December 2015










    2.1 2nd  Workshop (Youth) on Unemployment in Europe


    2.2 Workshop on Human Capital in Cities





    2.3 EACES-HSE Workshop















    5,1 Scientific Articles by EACES Members


    5.2 Journals’ Recent Publications

































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Dear Colleagues,


The festive season and the start of the New Year offer us a welcome respite to reflect on the state of our field, and our Association which works within it. The previous year has seen considerable research activity, with our first World Congress in Rome and numerous smaller conferences and workshops. Our research efforts have been widely spread, with work on transition economics, labour economics, and globalisation at the forefront. In this message, I thought I would comment on topics that seem worthy of further work during 2016 and beyond.


Since we are the European Association of Comparative Economic systems, the obvious starting point is economic affairs in European Union. The recent election in Spain has strengthened a political position already in power in Greece, which argues that austerity is not the only solution to Europe’s economic malaise.  The Northern European economies, notably Germany and the UK, strongly adhere to a macroeconomic policy focused on balancing the books, though even in Britain the main opposition party has taken a shift to the left and is toying with anti-austerity policies. The continued slow rate of growth in most of Europe suggests a need for further research and debate on this longstanding issue.

The most heartrending question facing European economies has been how to address the refugee influx, especially given slow growth and high unemployment in many countries. Europe has failed to act in concert on this deep problem, reflecting differences in political and social traditions as well as demographics. Academic work on immigration within the EU has found that it is a net benefit to the recipient economies, though in some places it is also socially and politically unpopular. However the scale of the recent flows from Syria and sub Saharan Africa has been very large and the skills being added to the host economies are different to those from intra-EU migration. Serious research is now needed to understand the likely impact of the recent migratory flows, and to devise Europe-wide policies which assist integration and the generation of economic gains.


Finally, I will turn to a question which is perhaps at the moment of more parochial British than Europe wide interest, but which has the potential to have significant effects  in the upcoming years; the British referendum on EU membership. This will likely be held during the summer of 2016, and the outcome is highly uncertain. Of course, the result will be sensitive to what occurs in Europe during the period prior to the referendum, not least EU growth, the migrant crisis and of course the results of the renegotiation process. But academics have not yet given sufficient thought to the consequences of a British vote to leave the EU, an event which at the moment is approximately 50% likely. There could be consequences for the EU, for the UK and globally. For example, the evidence suggests that EU membership creates output and employment, which suggests significant negative effects on UK growth and employment from Brexit. The UK has also been a recipient of numerous immigrants from the EU, especially in recent years from Poland and other transition economies but also from France and Italy. The status of these workers, and the possible effects on their home countries of their return, would be considerable. The UK has probably acted as a constraint on the political integration of the EU, and its departure might accelerate such processes, though the EU itself would be weakened global force with one of its larger economies removed. British exit might also create parallel movements to leave the EU from other economies, thus destabilising the whole EU project.


In addition to political economy effects, one can consider a number of potential direct economic effects, the converse of the hypothesised benefits of EU integration. Take for example the impact of Brexit on foreign direct investment (FDI). The UK has been a major host of FDI bound for the EU from outside the Union. Those investments would likely be seeking another home post-Brexit. Ireland has many of the same advantages from an investor perspective (English language, Anglo-Saxon legal system, flexible labour markets, weak unions, strongly pro-business institutions) but may find it hard to absorb investments at this scale. Opportunities may be opened up in Holland, Scandinavia and some of the transition economies, for example Poland.


As this message highlights, it is possible that 2016 may be a darker year than 2015, with many serious and dangerous issues facing us within Europe, and across the globe. I am sure that one way to face these problems effectively is on the basis of serious academic research, and our Association is playing its part in encouraging research facilitating the exchange of findings and ideas.


Despite these looming storm clouds, we can take pride in the work of the Association, which will continue with our biannual Conference in Regensberg in September and numerous conferences and workshops.


I wish you all a happy and productive 2016.



Saul Estrin

London School of Economics

January 4th 2016








2.1 2nd Workshop (Youth) on Unemployment in Europe


2.2 Workshop on Human Capital in Cities

EACES Workshop

‘Human Capital in Cities: A Comparative Perspective’


May 19-20, 2016

St. Petersburg, Russian Federation


In cooperation with the European Association for Comparative Economic Studies (EACES), Campus of the Higher School of Economics in St. Petersburg is pleased to invite submissions to the following EACES Workshop ‘Human Capital in Cities: A Comparative Perspective’.


The Workshop is going to take place during the Annual Conference ‘Education and Global Cities: The Research University in the 21st Century’, held by Campus of NRU Higher School of Economics in St. Petersburg on May 19-20. 


Professor Vladimir Gimpelson from HSE Center for Labor Studies is invited to EACES workshop as keynote speaker. We welcome original research papers broadly related to the interconnections between human capital and urban/regional development. Topics of interest include, but are not limited to:


·         spatial distribution of human capital and skills

·         spillover effects of human capital stock

·         regional heterogeneity in return to education

·         local labour market and human capital accumulation

·         labor market and qualification mismatch

·         young people, labor markets and student mobility

·         local community and earnings inequality

·         Institutions, ethnic diversities and regional disparities


To participate in the workshop, one can submit an extended abstract or preliminary paper to Mrs. Anna Fedyunina ( no later than February 14th, 2016. Authors will be informed about the selection by March 1st, 2016.


According to the QS World University Ranking 2015, the Higher School of Economics ranks among the world’s top 200 universities for economics, philosophy and sociology, and within the top 100 for development studies. Higher School of Economics in St. Petersburg is a globally oriented university, one of four network campuses of HSE with more than 3300 students and around 100 research fellows holding PhD degrees of leading world universities (see key facts and figures at ).


The 3rd 2016 annual conference ‘Education and Global Cities: The Research University in the 21st Century’ will focus on the challenges and opportunities for developing a research university. It will re-examine the concept of the research university in a new context, defined by:

·         the impact of world university rankings;

·         the impetus to develop research fields that contribute to the standing of a university within these rankings;

·         the emergence of new cross-disciplinary research fields that bring innovations in research methodologies and cooperation between traditional disciplines;

·         the changing of the historic balances between disciplines, and the increasingly fragile position of the social sciences and humanities vis-à-vis the natural sciences;

·         and the challenge that the drive to achieve world research excellence presents to the traditional social and economic role of the university in given national or regional contexts.


For further information, please, contact Mrs. Anna Fedyunina



2.3 EACES-HSE Workshop



EACES-HSE Workshop

June 20, 2016, Moscow

Call for Papers

The International Center for the Study of Institutions and Development (ICSID) at Higher School of Economics in Moscow together with the European Association for Comparative Economic Studies (EACES) are pleased to invite submissions to the workshop:

Economic Development and Elite Competition

The workshop is going to precede the 5th Annual ICSID Conference that will take place at Higher School of Economics in Moscow on June 21-22, 2016. Contributions from the fields of comparative economics, political economy and political science are invited. We welcome submissions that adopt theoretical as well as empirical, qualitative as well as quantitative research designs and that can offer useful perspectives on recent developments and new challenges in political economy.

Topics of interest for submission include, but are not limited to:

Workshop working language is English. The workshop will be held in the central HSE campus at Myasnitskaya st., 20, Moscow.


To participate in the workshop, please submit a paper abstract of up to 200 words (or a draft), together with a short CV, to Professor Andrei Yakovlev to by February 20th. Applicants will be informed about the selection by March 15th, and the authors of accepted proposals are expected to submit full papers by May 20th.

The Selection Committee will include:

ICSID will provide you with an invitation necessary to apply for a visa at a Russian consulate of your choosing. Since invitation issue may take up to 4 weeks we would be grateful if you could apply in advance.

ICSID can also assist in finding accommodation at one of the HSE Guest Houses or hotels during your stay in Moscow. Please note that HSE Guest House room availability is not guaranteed, therefore early requests are appreciated. ICSID does not, however, cover travel or accommodation expenses.

The International Center for the Study of Institutions and Development (ICSID, is one of the international laboratories created by the Higher School of Economics in 2011, and currently unites a team of researchers from Russia, USA and Europe.

Scholars at ICSID are currently implementing the research project ‘Factors of career trajectories of bureaucratic elites, informal institutions, and provision of public goods’ which is the Center’s major project for 2014-2016. The main objectives of the project are to study the incentives for strengthening regional governance, improving the quality of formal and informal institutions, and developing research on public goods provision and property rights protection. We concentrate mostly on Russia, but compare it with other countries and have started to expand our research to China.





Seminar Series Access to Finance for SMEs


The next workshop in the seminar series ‘Access to Finance for SMEs’ will take place in Freiberg (Germany) in January. Details can be found here:



Palgrave Dictionary of Emerging Markets and Transition Economics


The new ‘Palgrave Dictionary of Emerging Markets and Transition Economics’ edited by Jens Hӧlscher and Horst Tomann has been published. The official launch will take please at the ASSA convention in San Francisco in January. Details can be found here:



Edited by Jens Holscher and Horst Tomann


The period of transition from socialism to capitalism in parts of Europe and Asia over the past 25 years has attracted considerable interest in academia and beyond. From the Editors of Palgrave's iconic series 'Studies in Economic Transition' comes the Palgrave Dictionary of Emerging Markets and Transition Economics. This dictionary addresses the needs of students, lecturers and the interested general public to quickly find definitions and explanations of topics, institutions, personalities and processes in this historical phase of changing societies, which as such is not concluded. Today newly emerging market economies try to learn from the experiences of transition economies. Those who love The New Palgrave Dictionary of Economics will enjoy the format of this Dictionary, which uses an encyclopaedia-based approach, where articles not only define the terms but provide an overview of the evolution of the term or theory and also touch on the current debates.












EACES Workshop on ‘Russian Firms in Comparative Perspective’



European Association for Comparative Economic Studies (EACES)

National Research University – Higher School of Economics (HSE)


EACES Workshop


April 21-22, 2016, Moscow, Russia


The EACES workshop “Russian Firms in Comparative Perspective” will be held within the framework of the XVII HSE International Academic Conference on Economic and Social Development (Moscow, April 19-22, 2016). The workshop is organized by the Institute for Industrial and Market Studies of National Research University – Higher School of Economics (HSE) in cooperation with EACES and Economic Systems (, 2014 Tompson Reuters Journal Citation Report Impact Factor: 0.649).


The EACES workshop aims to promote empirical research on Russian firms by the international academic community. The workshop also intends to develop academic networks among researchers interested in Russian and other emerging economies. We especially welcome studies related to the organization, management, behavior as well as internationalization of Russian firms with a comparative perspective over time or between other countries.


Accordingly, we solicit papers on a variety of related topics, including but not limited to:

l  Ownership structures, privatization, renationalization, and corporate governance system;

l  Management systems and technologies, investment, innovation, restructuring;

l  Emergence and future prospects of family and small businesses;

l  Market entry and exit, firm survival, firm performance;

l  State-business relationship, investment climate, state capture, corruption.

l  Internationalization, international competitiveness;

l  Impact of financial crises and sanctions on business development.


The working language of the workshop will be English.


The workshop program will include a keynote speech by Prof. Saul Estrin (London School of Economics and Political Science; President of EACES) and a number of panel sessions on specific topics. The duration of a panel session is 90 minutes. Researches will have 15 minutes for presentation to be followed up by discussants.


We are  ask authors to upload the full version of the paper (no longer than 10,000 words; Word, RTF or PDF file) into the conference website (and also send the paper to e-mail address by March 7, 2016.


Program Committee of the Workshop: Tatiana Dolgopyatova (HSE, Russia), Julan Du (Chinese University of Hong Kong, China), Ichiro Iwasaki (Hitotsubashi University, Japan), Byung-Yeon Kim (Seoul National University, South Korea), Tomasz Mickiewicz (Aston Business School, UK), Alexander Muravyev (HSE, Russia & IZA, Germany), Andrei Yakovlev (HSE, Russia).


Selected papers presented at the workshop will be published in a special issue of Economic Systems in March, 2017. All nominated papers are subject to a blind peer-review. Guest editors of the special issue are: Tatiana G. Dolgopyatova, Ichiro Iwasaki and Andrei Yakovlev.


The Institute for Industrial and Market Studies (IIMS) was founded in April, 1997. The IIMS is one of the first research institutes to have been established at the Higher School of Economics. The Institute focuses on empirical analysis of an enterprises’ behavior and market development, competition policy, the investment climate and relations between business and state.


Key-note speaker Saul Estrin is a Professor of Management and Head of the Department of Management at the London School of Economics and Political Science. His areas of research include labour economics, economic development and entrepreneurship. Saul has published numerous papers in scholarly journals including Quarterly Journal of Economics, European Economic Review, Journal of Public Economics, Journal of Industrial Economics and Journal of Comparative Economics.






5.1 Scientific Articles by EACES Members


Article by Wladimir Andreff


"Outward foreign direct investment from BRICs countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies", European Journal of Comparative Economics, special issue on emerging economies (forthcoming).

5.2 Journals’ Recent Publications




Web page:



Economic Systems on ScienceDirect(Opens new window)

Vol. 39 (4) 2015




Systemic event prediction by an aggregate early warning system: An application to the Czech Republic

Diana Zigraiova, Petr Jakubik, Pages 553-576


Assessing optimal credit growth for an emerging banking system

Petr Jakubik, Bogdan Moinescu, Pages 577-591


The dynamic relationship between stock, bond and foreign exchange

Süleyman Hilmi Kal, Ferhat Arslaner, Nuran Arslaner, Pages 592-607


Knowledge externalities and demand pull: The European evidence

Cristiano Antonelli, Agnieszka Gehringer, Pages 608-631


The transmission of foreign shocks to South Eastern European economies: A Bayesian VAR approach

Goran Petrevski, Peter Exterkate, Dragan Tevdovski, Jane Bogoev, Pages 632-643


News on inflation and the epidemiology of inflation expectations in China

Chengyao Lei, Zhe Lu, Chengsi Zhang, Pages 644-653


Sources of asymmetric shocks: The exchange rate or other culprits?

Michal Skorepa, Lubos Komarek, Pages 654-674


Macroeconomic shocks and fluctuations in African economies

Mutiu Gbade Rasaki, Christopher Malikane, Pages 675-696






Post Communist Economies

Web page:


Volume 27, Issue 4, 2015




Capital flow bonanzas and monetary policy in emerging Europe: responses to the global financial crisis

Jean-Pierre Allegret & Audrey Sallenave, Pages 429-447


Going global: understanding China’s outward foreign direct investment from motivational and institutional perspectives

Canfei He, Xiuzhen Xie & Shengjun Zhu, Pages 448-471


Loan loss provisions during the financial crisis in Ukraine

Łukasz Goczek & Natasha Malyarenko, Pages 472-496


Changes in pension take-up and retirement in the context of increasing the pension age: the case of Estonia in the 2000s

Allan Puur, Lauri Leppik & Martin Klesment, Pages 497-516


Status quo bias of agrarian land structures in rural Albania

Artan Qineti, Miroslava Rajcaniova, Kushtrim Braha, Pavel Ciaian & Jona Demaj, Pages 517-536


Corporate tax base erosion and profit shifting out of the Czech Republic

Petr Janský & Ondřej Kokeš, Pages 537-546


Does firm privatisation benefit local households? The case of Vietnam

Long Thanh Giang, Cuong Viet Nguyen, Huong Vu Van & Thieu Vu, Pages 547-565




Comparative Economic Studies


Web page:

Volume 57, Issue 4, 2015



Top of page


Breaking the Curse of Sisyphus: An Empirical Analysis of Post-Conflict Economic Transitions

Serhan Cevik and Mohammad Rahmati, Pages 569-597


Financial Development and Economic Growth in the MENA Region

Hassan Hamadi and Charbel Bassil, Pages 598-622


Is It Possible to Adjust ‘With a Human Face’? Differences in Fiscal Consolidation Strategies between Hungary and Iceland

Bruno Martorano, Pages 623-654


International Assessment Surveys of Educational Achievement in Developing Countries: Why Education Economists Should Care

Gérard Lassibille, Pages 655-668


The Military Origins of Soviet Industrialization

Vladimir Kontorovich, Pages 669-692


Russia’s Current Economic System: From Delusion to Glasnost

Michael Ellman, Pages 693-710


Innovations in Mortgage Finance and the Onset of the Great Recession in a Small Open Economy with a Euro Peg

Thomas Barnebeck Andersen and Nikolaj Malchow-Møller. Pages 711-






Web page:

Volume 28, Issue 1, 2015



original articles


Theorising Politics Behind Policy Coherence for Development (PCD) FREE

Lauri Siitonen, Pages 1-12


Broadening the Global Development Framework Post 2015: Embracing Policy Coherence and Global Public Goods

Michael King, Pages 13-29


The European Union and Policy Coherence for Development: Reforms, Results, Resistance

Maurizio Carbone and Niels Keijzer, Pages 30-43


The Rise of Policy Coherence for Development: A Multi-Causal Approach

Joren Verschaeve, Sarah Delputte and Jan Orbie, Pages  44-61


Coherence and Contradictions in Danish Migration-Development Policy and Practice

Ninna Nyberg Sørensen, Pages 62-75


A Perfect Post-2015 Partner? Analysing EU’s Development and Trade Agendas for Global Development Partnership

Marikki Stocchetti, Pages 76-90


The EU and The Human Right to Water and Sanitation: Normative Coherence as the Key to Transformative Development

Harlan Koff and Carmen Maganda, Pages 91-110


Top of page

Book review


Right to Work? Assessing India’s Employment Guarantee Scheme in Bihar

Mamata Pradhan, Pages 111-113


Global Marshall Plan – Theory and Evidence

Franz-Josef Radermacher, Pages  113-115


Education, Learning, Training: Critical Issues for Development

Manos Antoninis, Pages 116-117








Managing Board


Expert Image

         Saul Estrin



Department of Management


Houghton St

             London WC2A 2AE

Tel: +44-20 7955 6605



Magdolna Sass



Institute for Economics of the Hungarian Academy of Sciences

1112 Budaörsiút. 45

Phone: (+36-1) 309-2652
Fax: (+36-1) 319-3136



Randolph Bruno



School of Arts & Social Sciences

University College London

16 Taviton Street



Tel: +44(0)20 7679 8757



Jens Hölscher



Head of Department

Accounting, Finance & Economics

The Business School, Bournemouth University

Executive Business Centre

89 Holdenhurst Road, Bournemouth BH8 8EB, UK










Other Members of the Executive Committee

(Alphabetical order by family name)

Roman Horvath

EC Member


Institute of Economic Studies

Charles University, Prague

Ovocný trh 3-5, 116 36 Praha 1

Czech Republic

Tel: +420- 222 112 317     

Fax: (+49) 3731/39 27 33




EC Member



University of Regensburg and IOS Regensburg,


Tele: +49-941 943 2697

Fax:+49-941 943-4941



Satoshi Mizobata

EC Member


Institute of Economic Research,

Kyoto University

Yoshidahon-machi, Sakyo-ku, Kyoto,

Japan 6068501

Tel: +81-75-753-7144



Martin Myant

EC Member


European Trade Union Institute

Bd du Roi Albert II, 5

1210 Brussels

Website:  Myant


Jan Svejnar

EC Member

School of International and Public Affairs

Columbia University

420 W. 118th Street

New York, NY 10027




Milica Uvalic

EC Member

Department of Economics, Finance and Statistics

Via Pascoli 20

University of Perugia, 06123 Perugia, Italy

Tel: +39-075-5855292, 5855279

Fax: +39-075-5855299




EC Member

University of Tartu

Institute of Economics

Narva 4, 51009 Tartu


Tel: +372-737-6361   Fax: +372-737-6327



Ivan Vujacic

EC Member

Department of Economics and Statistics

University of Beograd

Kamenicka 6, Belgrade 11000, Serbia

Tel: +381-11-3021094

E-mail: Website:

Andrei Yakovlev

EC Member

University - Higher School of Economics

Institute for Industrial and Market Studies

Slavyanskayapl 4, bldg 2,

Moscow 109074, Russia    

Tel.: +7-495-6288649

E-mail ayakovlev@hse.ruand



Members of the Advisory Board 





Wladimir Andreff

University of Paris 1-Centre d'Economie de la Sorbonne

Will Bartlett

London School of Economics and Political Science

Laszlo Csaba

Central European University, Budapest

Bruno Dallago

Università di Trento, Department of Economics

Daniel Daianu

The Academy of Economic Studies, Bucharest

Jens Hölscher

Bournemouth University, England

Mario Nuti

London Business School

Marcello Signorelli

Department of Economics, University of Perugia

Milica Uvalic

Department of Economics, University of Perugia

Vittorio Valli

Università di Torino, Dept. Economia

Hans-Jürgen Wagener

Europa Universitaet Viadrina, Frankfurt/Oder

Tomasz  Mickiewicz

Aston University


Honorary Members:


Ronald Dore

Gregory Grossman

Michael Kaser

János Kornai

Marie Lavigne

Angus Maddison0301

Domenico Mario Nuti

Wladimir Andreff


Ex – Officio Member

Michael Keren

Hebrew University

Department of Economics

Naphtali Bldg. Scopus Campus, 91905 Jerusalem (Israel)

Tel: +972-26528521; Fax: 972-2-5816071





The presidential message in this 76th issue of EACES quarterly newsletter mentions the relevance of austerity measures to address the problems southern European economies are facing. The policy dilemma is growing along with the refugee influx in Northern Europe. This has developed a new scenario of migration amidst the critical juncture of austerity measures. This reflects the stagnation of the southern economies with growing unemployment. Moreover, the presidential message also highlights the likely impact of the potential exit of Britain from the European Union (Brexit). The referendum will likely take place in late 2016 and a clearer picture of the politico-economic change in Europe will frame a shape accordingly. The president has extended best wishes to all for very productive year 2016.


Section 2 of this newsletter includes call for papers to three interesting conferences/workshops: 2nd Workshop (Youth) on Unemployment in Europe, 5-6 May, 2015, Warsaw, Poland; EACES Workshop on ‘Human Capital in Cities: A Comparative Perspective’, May 19-20, 2016; and EACES-HSE Workshop to be held in June 20, 2016, Moscow. Prospective participants/presenters are requested to visit the call for papers presented in this section.


Two important announcements are inclusive in Section 3. They include Seminar Series Access to Finance for SMEs that will take place in Freiberg (Germany) in January 2016. Likewise, information regarding the release of the book ‘Palgrave Dictionary of Emerging Markets and Transition Economics’ has also been included in this section. Both of these events will take place in January this year; the latter will be organised in ASSA convention to be held in San Francisco, USA.


EACES Workshop on Russian Firms in Comparative Perspective will be held in April 21-22, 2016, Moscow, Russia. Researchers are requested to follow the contacts and present their research outcomes. Section 4 presents the schedules and important deadlines regarding this workshop.


Section 5 is all about recent publications of some EACES members. Wladimir Andreff, Professor Emeritus, University of Paris 1 Panthéon Sorbonne, France, has shared his forthcoming publication. The second part of Section 5 informs recent publications of journals associated with comparative economic societies. More specifically, recent publications Economic Systems, Post-communist Economies, Comparative Economic Studies, European Journal of Development Research are inclusive in this section.


The editor wishes very happy and innovative year 2016 to all our association members.


We welcome any comment/suggestion for the improvement of the newsletter. The submissions are requested to deliver in the form of hard copy or (preferably) electronic copy as a Microsoft Word file to the editor:



Sanjaya Acharya




Pole tekstowe: EJCE (The European Journal of Comparative Economics) E-Journal and 
ECONOMIC SYSTEMS (A Quarterly Journal published by the Osteuropa-InstitutMünchen/Elsevier in collaboration with EACES) are the journals associated with EACES.
For details, please follow the link:
              December 2015