No. 74 June 2015

EACESEACESEACESEACES NEWSLETTERNEWSLETTERNEWSLETTERNEWSLETTER

Founded in 1990 EACES website: http://www.eaces.eu

No. 74 Quarterly Publication of EACES June 2015

Contents Page 1. OFFICIAL NEWS 1

1.1 Message from the President 1

1.2 EACES Board Meeting 2

2. CALL FOR PAPERS 3

2.1 7th Joint IOS/APB/EACES Summer Academy on Central and Eastern Europe 3

2.2 Financial Development in Transition and Post-transition Countries 4

2.3 EACES Workshop on ‘Russian Firms in Comparative Perspective’

4

3. EVENTS AND ANNOUNCEMENTS 6 3.1 Lecture by Prof. Amartya Sen 6

3.2 Report on Conference “Achievements and Challenges for the Emerging Economics” 6

3.3 Stiglitz Essay Prize 7 4. FORTHCOMING CONFERENCES / SEMINARS / WORKSHOPS 8 4.1 EACES-HSE Workshop 8 4.2 EACES-HSE Workshop Moscow 8 4.3 4th ICSID Conference 2015 8

4.4 Third Annual Conference of IOS 8 4.5 The Role of State in Varieties of Capitalism (SVOC) 8

5. JOURNALS’ RECENT PUBLICATIONS

14 6. EACES OFFICIALS 21

EDITORIAL 25

1 EACESEACESEACESEACES NEWSLETTERNEWSLETTERNEWSLETTERNEWSLETTER

1. OFFICIL NEWS

1.1 Message from the President

Dear Colleagues, I write to you just after the conclusion of the First World Congress on Comparative Economics, held in Rome. This was a remarkable event, with more than three hundred presentations, a keynote address from Avner Greif and several plenary panels containing major contributors to the field from our Association including Mario Nuti, Marcello Signorelli and Jan Svejnar. The Congress was very much the brainchild of Marcello Signorelli, our former President, and the local organisation was arranged admirably by Pasquale Tridico. The Congress confirmed the vitality of the Association, and our partner associations around the world, and provided a showcase for all the excellent research being undertaken in our field. I am pleased to be able to say that, building on this success, we have decided to continue the idea of World Congresses held jointly by all the Associations. We have agreed that the next World Congress will be held in St Petersburg two years from now, in the summer of 2017. In this way, we intend to be able to develop further our successful collaboration. I am delighted that our EACES Board member, Andrei Yakovlev, has agreed to host this important meeting and thank him sincerely on your behalf. At our Board meeting held in Rome last week, we also considered the plans for the next EACES bi-annual Conference, which are already well advanced. As you will remember,

this will be held in Regensburg, Germany on September 6th-8th. The likely theme of the conference will be Comparative Economic Development in the Long Run. There will be a formal call for papers in the next few months but you may already wish to be planning your participation. Of course, the Association also supports numerous other workshops, seminars and conferences, and the ones being held in the immediate future are listed in this newsletter. We hope you will also be able to take part in these events. In conclusion may I wish you a restful and fruitful summer and look forward to meeting you all soon at a future EACES event. Saul Estrin London School of Economics

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1.2 EACES Board Meeting

June the 26th 2015, World Congress of Comparative Economics, Rome, Italy, 18.15 – 19.00

MINUTES Management Board Saul Estrin (SE) President 2014-2016 Magdolna Sass (MS) Vice-president 2014-2016 Randolph Bruno (RB) Secretary 2014-2016 Jens Holscher (JH) Treasurer 2014-2016 Executive Board Ivan Vujacic (IV) 2014-2016 Andrei Yakovlev (AY) 2014-2016 Roman Horvath (RH) 2014-2016 Jan Svejnar (JS) 2014-2016 Milica Uvalic (MU) 2014-2016 Advisory and ex-officio Marcello Signorelli (Ma. Sig.) Vittorio Valli (VV) Michael Keren (MK) Andreff Wladir (AW)

Apologies Urmas Varblane (UV) 2014-2016 Martin Myant (MM) 2014-2016 Jorgen Jerger (JJ) 2014-2016 Satoshi Mizobata (SM) 2014-2016 Tomasz Mickiewicz (TM) Will Bartlett (WB) Bruno Dallago (BD) Agenda 1. WCC 2015 in Rome: SE thanked Ma. Sig.

for a very successful organisation of the 1st World Congress in Comparative Economics showing a remarkable number of participants/speakers. MS praised the 1.40 1.45 minutes time-slot allocated to each session allowing for well-timed presentations.

2. After the successful 1st WCCE, the 2nd WCCE will be held in St. Petersburg in 2017 (around same

period of the year), hosted by the Higher School of Economics. The board has very enthusiastically thanked AY for this new event organisation.

3. JH reported two transfers into EACES account: the surplus from the Budapest conference held in 2014; a corporate bond investment due this year. The board has discussed possible use of the money for redesigning the website (proposal by RH with an initial cost of around 1400 €: to be followed up by SE RB and RH himselfernesto1) as well as support to PhD students participation to EACES events.

4. SE and RB to liaison with JJ on the EACES 2016 University of Regensburg Conference organisation on September 6th-8th. The likely theme of the conference will be “Comparative Economic Development in the Long Run”. JJ has confirmed quick progress in organising this big EACES event and will report on this at the next board in February 2016.

5. The next Board Meeting will be hosted by Prof. Saul Estrin at London School of Economics, New Academic Building, 54 Lincolns Inn Fields, WC2A 3LJ, room 8.02 on the 12th of February 2016 13.30-16.30.

6. Forthcoming events at HSE, University of Belgrade and CEU Budapest. (see http://www.eaces.eu/). AY will soon announce a new workshop at HSE held around April 2016 at HSE in St. Petersburg.

7. MU has suggested the possibility to add other journals (e.g. Economic Annuals) as ‘official’ journals of the EACES. The board has decided that a wider discussion is needed on the overall strategy of ‘EACES’ journal’s affiliation. Any decision will be taken within the new strategy.

Rome, 26th of June

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2. CALL FOR PAPERS

2.1 7th

Joint IOS/APB/EACES Summer Academy on Central and Eastern Europe,

27-29 July, 2015

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2.2 Financial Development in Transition and Post-transition Countries

Call for Papers The Department of Economics, University of Belgrade in cooperation with EACES (European Association for Comparative Economic Systems) are pleased to invite submissions to the following workshop to be held September 11-12 2015:

FINANCIAL DEVELOPMENT IN TRANSITION AND POST-TRANSITION COUNTRIES

Workshop working language – English. The workshop will take place at the Department of Economics, University of Belgrade, Kamenička 6, 11 000 Belgrade, Serbia. Papers on private finance, stock markets, banking reforms, regulatory regimes and institutions and their impact on the real sector, as well as other contributions related to finance in the transition and post-transition countries are welcome. Submission: To participate in the workshop, paper abstracts of up to 200 words (or preliminary papers) should be submitted, together with a short CV, cis@ekof.bg.ac.rs by July 10th. Authors will be informed about the selection by July 20th, and final versions of the papers should be submitted by August 25th. Fee: A fee of 50 euro (covering two lunches and a diner) will be charged. Ph.D. students will be waivered from paying the fee. The organizers will not cover costs of transportation or accommodation. A list of hotels and rates nearby the location of the workshop will be provided by the organisers. 2.3 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

‘RUSSIAN FIRMS IN COMPARATIVE PERSPECTIVE’ 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

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cooperation with EACES and Economic Systems (http://www.journals.elsevier.com/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: � Ownership structures, privatization, renationalization, and corporate governance system; � Management systems and technologies, investment, innovation, restructuring; � Emergence and future prospects of family and small businesses; � Market entry and exit, firm survival, firm performance; � State-business relationship, investment climate, state capture, corruption. � Internationalization, international competitiveness; � 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 invite you to send extended abstracts of papers for presentation at the workshop to organizers (ayakovlev@hse.ru) and simultaneously to register and to submit the abstract on the HSE academic conference website online (see more details at: http://conf.hse.ru/en/2016). We accept your paper proposal from September 9, 2015 until November 11, 2015. The abstract should be in RTF or Microsoft Word formats, be no longer than 1,500 words and include three to five key words. For accepted papers, we would 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 ayakovlev@hse.ru) 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.

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3. EVENTS AND ANNOUNCEMENTS

3.1 Lecture by Prof. Amartya Sen

Professor Amartya Sen (Nobel Laureate in Economics, 1998) delivered a lecture on “Ethics and Economics” at the University of Perugia on May 7, 2015. A VIDEO on his lecture on “Ethics and Economics” is available at the following link: https://www.youtube.com/watch?v=8u4hr2mXzKA&feature=youtu.be

3.2 Report on the Conference “Achievements and Challenges for the Emerging

Economics” On the 22-24th June 2015 as part of the School of Slavonic and East European Studies centenary celebrations, the Economics and Business Group held the conference entitled “Achievements and Challenges for the Emerging Economics of Central Europe”. Scholars at SSEES have been investigating all aspects of life in Central, Eastern and South-Eastern Europe, Russia and Eurasia for the last 100 years. As a result, in 2015, SSEES stands as one of the world leading institutes specialising in this geographical area and as the largest group of experts outside the region. The conference aimed to reflect SSEES scholars’ contribution to the understanding of various aspects of socio-economic developments in the region, and was broadly structured around the following research themes: wellbeing and welfare; public finance; political participation; innovation, entrepreneurship and institutions; finance; labour markets; economic history, and European integration. Worldwide-known academics such as Leora Klapper (World Bank), Michael Landesmann (WIIW) and Keun Lee (Seoul National University) gave intellectually stimulating keynote speeches, discussing the issues of financial inclusion, convergence and divergence, and catching-up in the region. The first day of the conference ended with the lively discussion at the round table following the presentation from Theo Thomas (World Bank) “Stalling Economic Growth in Emerging Europe and Central Asia”. The conference was attended by scholars from EBRD, IMF and World Bank, leading UK and CEE universities, representatives of CEE country national banks. Presentation of papers at various research theme panels generated interesting debates, and laid good foundation for reflecting together on the achievements in the region, current challenges and avenues for future research. SSEES kindly acknowledges among others the financial support from the European Association for Comparative Economic Studies in organising this conference. There are expected to be more workshops and conferences organised in the future by the Centre for Comparative Studies of Emerging Economies (CCSEEs) that has been launched recently to support the development of the research agenda on comparative economics of emerging economies at UCL SSEES. Additional information on this will be circulated due date to encourage participation of EACES members.

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3.3 Stiglitz Essay Prize

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4. FORTHCOMING CONFERENCES / SEMINARS / WORKSHOPS

Summary

4.1 EACES-HSE Workshop

HSE Campus at

Myasnitskaya st.

20, Moscow

29 June - 4 July

2015I

4.2 EACES-HSE Workshop Moscow

Higher School of

Economics,

Moscow

June 29 - July 1st,

2015II

4.3

4th

ICSID Conference 2015

‘Institutions, Elites and Collective

Action in the Developing World’

Higher School of

Economics,

Moscow

June 30th

– July 1st,

2015III

4.4 Third Annual Conference of IOS

IOS,

Regensburg,

Germany

2-4 July, 2015 IV

4.5

The Role of State in Varieties of

Capitalism (SVOC)

Achievements and Challenges

Central

European

University,

Budapest

26-27 November

2015 V

I EACES-HSE Workshop, June 29-July 1, 2015, Moscow

In cooperation with the European Association for Comparative Economic Studies (EACES), the International Centre for the Study of Institutions and Development at the Higher School of Economics (ICSID) in Moscow is pleased to invite submissions to the following workshop:

Political Economy of Development: New Challenges and Perspectives

The workshop is going to be part of the 4th ICSID Conference 2015 in Moscow at the campus of the National Research University – Higher School of Economics in late June 2015. Contributions from the fields of political economy and political science are invited. Submissions that adopt research of recent processes and new challenges in political economy are especially welcome.

The International Center for the Study of Institutions and Development (ICSID, http://iims.hse.ru/en/csid/) 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 “Incentives for Bureaucracy, Property Rights Protection and Public Goods Provision” which is the Center’s major project for 2014-2016. The main objectives of the project are to study the incentives for strengthening regional

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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.

Workshop working language – English. The workshop will take place at the central HSE campus at Myasnitskaya st., 20, Moscow.

Selection Committee: The Selection Committee includes the following persons:

• Andrey Yakovlev (HSE) • Timothy Frye (Columbia University, HSE) • Thomas Remington (Emory University, HSE) • William Pyle (Middlebury college, HSE) • Alexander Libman (German Institute for International and Security Affairs) • John Reuter (University of Wisconsin-Milwaukee, HSE) • Leonid Polischuk (HSE)

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 will appreciate if you apply in advance. ICSID can also assist in finding accommodation in HSE Guest Houses or hotels during the visit. 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.

IIEACES-HSE Workshop, June 29-July 1, 2015, Moscow

In cooperation with the European Association for Comparative Economic Studies (EACES), the International Centre for the Study of Institutions and Development at the Higher School of Economics (ICSID) in Moscow is pleased to invite submissions to the following workshop:

Political Economy of Development: New Challenges and Perspectives

The workshop is going to be part of the 4th ICSID Conference 2015 in Moscow at the campus of the National Research University – Higher School of Economics in late June 2015. Contributions from the fields of political economy and political science are invited. Submissions that adopt research of recent processes and new challenges in political economy are especially welcome. We are glad to announce that Jan Svejnar (Columbia University) is invited as a keynote speaker.

The International Center for the Study of Institutions and Development (ICSID, http://iims.hse.ru/en/csid/) 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 “Incentives for Bureaucracy, Property Rights Protection and Public Goods Provision” 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.

Workshop working language – English. The workshop will take place in the central HSE campus at

Myasnitskaya st., 20, Moscow.

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Submission:

The Selection Committee included the following persons: • Andrei Yakovlev (HSE) • Timothy Frye (Columbia University, HSE) • Thomas Remington (Emory University, HSE) • William Pyle (Middlebury college, HSE) • Alexander Libman (German Institute for International and Security Affairs) • John Reuter (University of Wisconsin-Milwaukee, HSE)

ICSID has provided an invitation necessary to apply for a visa at a Russian consulate of your choosing. ICSID has also assisted in finding accommodation in HSE Guest Houses or hotels during the visit. Please note that HSE Guest House room availability has not been guaranteed. ICSID does not, however, cover travel or accommodation expenses.

III4

th ICSID Conference 2015 ‘Institutions, Elites and Collective Action in the

Developing World’

June 30th

– July 1st, 2015

Higher School of Economics, Moscow International Center for the Study of Institutions and Development (ICSID, http://iims.hse.ru/en/csid/) 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. The major goal of this event is to bring together Russian and foreign scientists in the fields of political economy, and economic and institutional development and stimulate the exchange of research results, ideas and knowledge. We will focus on the incentives for bureaucrats, collective action problems in Russian society, federal and regional elite networks in Russia and China, social capital outcomes and prerequisites as well as changes in the system of values and norms in Russia and other developing countries. The 2015 conference will be the 4th annual event of its type organized by the International Center for the Study of Institutions and Development. In May 2012, we focused on Douglass North et al.’s (2009) concept of “limited access orders”, and discussed whether it was helpful for empirical analyses in developing countries (http://www.hse.ru/en/institutions/symposium_en). In June 2013, we gathered Russian and foreign experts in political economy to discuss new data and methods available to researchers of institutions and economic development (http://www.hse.ru/en/institutions/conference_2013_en). In May 2014, we continued our discussion of institutions and regional economic development, with a primary focus on the cases of Russia and China (http://www.hse.ru/en/institutions/III). In 2015, we are planning to broaden the basis for comparative analysis and cover the aspects of institutions development and political economy in the developing world. Main conference topics include (preliminary):

• Elites and elite networks in Russia • Incentives for bureaucracy in Russia and China • Trust and Cultural Norms in Russia • Collective action in Russia • Social policy in Russia

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Furthermore, we are planning to invite leading experts on institutions, governance and development in Russia and developing countries to participate in the event. Conference working language is English. The conference will take place at the central HSE campus at Myasnitskaya st., 20, Moscow. For invited speakers, we cover travel costs (economy class) and provide accommodation at the conference hotel (NB both tickets and check-in/check-out dates should be within the period of the event +/- 1 day). 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 will appreciate if you apply in advance.

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IV Third Annual Conference of IOS, Regensburg, 2-4 July 2015

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V The Role of State in Varieties of Capitalism (SVOC)

Achievements and Challenges for Central and Eastern Europe and the Emerging

Markets

Date: 26-27 November 2015

Venue: Central European University, Budapest, Hungary

Extended deadline for abstract submission: July 5, 2015

The SVOC2015 conference is organized by the Institute of World Economics of the Centre for Economic and Regional Studies, Hungarian Academy of Sciences and Center for EU Enlargement

Studies, Central European University.

Download the Call for papers Official conference e-mail: svoc.conf@krtk.mta.hu © 2015 Institute of World Economics, Centre for Economic and Regional Studies HAS

Contact: svoc.conf@krtk.mta.hu

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5. JOURNALS’ RECENT PUBLICATIONS

ECONOMIC SYSTEMS Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/621171/description

Vol. 39 (2), June 2015

Contents:

The drivers of income mobility in Europe David Aristei, Cristiano Perugini, pages 197-224 Empirical evidence of conditional asset pricing in the Indian stock market Sudipta Das, pages 225-239 Credit default swaps and sovereign debt markets M. Kabir Hassan, Geoffrey M. Ngene, Jung-Suk Yu, pages 240-252 Similarity of emerging market returns under changing market conditions: Markets in the ASEAN-4, Latin America, Middle East, and BRICs Štefan Lyócsa, Eduard Baumöhl, pages 253-268 How useful is an Asian Currency Unit (ACU) index for surveillance in East Asia? Victor Pontines, pages 269-287 Are stock prices related to the political uncertainty index in OECD countries? Evidence from the bootstrap panel causality test Tsangyao Chang, Wen-Yi Chen, Rangan Gupta, Duc Khuong Nguyen, pages 288-300 The impact of fiscal positions on government bond yields in CEE countries Lena Malešević Perović, pages 301-316 Taxation of natural resources and economic growth in Russia's regions

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Michael Alexeev, Andrey Chernyavskiy, pages 317-338 Does revamping Japan's dual labor market matter? Chie Aoyagi, Giovanni Ganelli, pages 339-357 PPP may hold better than you think: Smooth breaks and non-linear mean reversion in real effective exchange rates Ali M. Kutan, Su Zhou, pages 358-366

POST COMMUNIST ECONOMIES

Web page: http://www.tandfonline.com/toc/cpce20/current

Volume 27, Issue 2, 2015

Contents:

Austerity and growth in Central and Eastern Europe: understanding the link through contrasting crisis management in Hungary and Latvia Dóra Győrffy, pages 129-152 Marginalisation and participation in the informal economy in Central and Eastern European nations Colin C. Williams & Ioana Horodnic, pages 153-169 GDP and life satisfaction in European countries – focus on transition Jiří VeČerník & Martina Mysíková, pages 170-187 Russia's flat tax reform: redefining its effects on employment Iryna Kryvoruchko, pages 188-204 Are new EU member states catching up with older ones on global agri-food markets? Štefan Bojnec & Imre Fertő, pages 205-215 Benefits of entry control: the Russian case Anton Oleinik, pages 216-232 Structural problems of the Czech economy Marek Loužek & Jan SkopeČek, pages 233-246

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The corruption mark-up: is corruption cost incorporated in the prices of goods and services in emerging and developed countries? Jelena Budak & Maruška Vizek, pages 247-255 Has foreign investment played a role in Mongolia's export success? Oyunbadam Davaakhuu, Kishor Sharma & Edward Oczkowski, pages 256-267 A note on poverty among ethnic minorities in the Northwest region of Vietnam Tuyen Quang Tran, Son Hong Nguyen, Huong Van Vu & Viet Quoc Nguyen, pages 268-281

COMPARATIVE ECONOMIC STUDIES

Web page: http://www.palgrave-journals.com/ces/index.html

Volume 57, Issue 2, 2015

Contents: Top of page SYMPOSIUM: 20TH DUBROVNIK ECONOMIC CONFERENCE Introduction: 20th Dubrovnik Economic Conference Symposium Paul Wachtel and Boris Vujčić, pages 203-204 The Eurocrisis: Muddling through, or on the Way to a More Perfect Euro Union? Joshua Aizenman, pages 205-221 Macroeconomic Implications of Financial Frictions in the Euro Zone Pierre L Siklos, pages 222-242 Fiscal and Monetary Policies During the Great Recession: A Critical Evaluation Vito Tanzi, pages 243-275 Global Monetary Policies and the Markets: Policy Dilemmas in the Emerging Markets Philip Turner, pages 276-299 SYMPOSIUM: MANAGING NATURAL RESOURCE WEALTH FOR DEVELOPMENT Introduction: Managing Natural Resource Wealth for Development

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Nadia Doytch and Ronald U Mendoza, pages 300-304 Riding the Commodity Rollercoaster: Natural Resource Management in the Context of Increasing Commodity Price Volatility Yanchun Zhang, Viridiana Garcia-Quiles and Nina Thelen, pages 305-325 Does Mining FDI Crowd in Other Investments? Investigation of FDI Intersectoral Linkages Nadia Doytch, Ronald U Mendoza and Charles I Siriban, pages 326-344 Papua New Guinea and the Natural Resource Curse Nayda Avalos, Veronica Gonzales Stuva, Adam Heal, Kaoru Lida and Naohito Okazoe pages 345-360 OBITUARY

In Memoriam Robert C Stuart Paul Gregory, pages 361-364.

JOURNAL OF COMPARATIVE ECONOMICS

Web page: http://www.journals.elsevier.com/journal-of-comparative-economics/

Volume 43, Issue 2, 2015

Contents: Living in the Garden of Eden: Mineral resources and preferences for redistribution Mathieu Couttenier, Marc Sangnier, pages 243-256 Sectoral technological progress, migration barriers, and structural change in China Zheng Jiang, Huimin Shi, pages 257-273 Asset stripping and firm survival in mass privatization: Testing the Hoff-Stiglitz and Campos-Giovannoni models in Montenegro Matjaž Koman, Milan Lakićević, Janez Prašnikar, Jan Svejnar, pages 274-289

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Product and labor market imperfections and scale economies: Micro-evidence on France, Japan and the Netherlands Sabien Dobbelaere, Kozo Kiyota, Jacques Mairesse, pages 290-322 Cultural identity, mobility and decentralization Christopher-Johannes Schild, Matthias Wrede, pages 323-333 Ethnicity and remittances: Evidence from Kosovo Laetitia Duval, François-Charles Wolff, pages 334-349 Let the markets begin: The interplay between free prices and privatisation in early transition Bruno T. da Rocha, pages 350-370 Globalization and the transmission of social values: The case of tolerance Niclas Berggren, Therese Nilsson, pages 371-389 Credit constraints, quality, and export prices: Theory and evidence from China Haichao Fan, Edwin L.-C. Lai, Yao Amber Li, pages 390-416 Firm size and the impact of securities regulation Douglas Cumming, April Knill, Nela Richardson, pages 417-442 Brain drain reversal and return subsidy Tiantian Dai, Xiangbo Liu, Biancen Xie, pages 443-455 Rail access and subjective well-being: Evidence from quality of life surveys Wenjie Wu, pages 456-470 Measuring the shadow economy using company managers Tālis J. Putniņš, Arnis Sauka, pages 471-490 Regime spoiler or regime pawn: The military and distributional conflict in non-democracies J. Atsu Amegashie, pages 491-502 Montias Prize Page 503

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EUROPEAN JOURNAL OF DEVELOPMENT RESEARCH

Web page: http://www.palgrave-journals.com/ejdr/index.html

Volume 27, Issue 2, 2015

Contents:

Top of page SPECIAL DEBATE

The New Middle Classes: Advocates for Good Governance, Inclusive Growth and Sustainable Development? Jürgen Wiemann, pages 195-201 Inequality, Sustainability and Middle Classes in a Polycentric World Peter Knorringa and Alejandro Guarin, pages 202-204 Sharing Global Responsibility: The Role of the Middle Classes on the Way to a Just and Sustainable Global Economy Jürgen Wiemann, pages 205-216 Does the Rise of the Middle Class Lock in Good Government in the Developing World? Nancy Birdsall, pages 217-229 The Emerging Middle Classes in India: Mobilizing for Inclusive Development? Isa Baud, pages 230-237 The Choice of the New Latin American Middle Classes: Sharing or Self-Caring Kees Biekart, pages 238-245 Where and What (for) is the Middle? Africa and the Middle Class(es) Henning Melber, pages 246-254 Towards a More Empirical Debate on Middle Classes in the Global South Peter Knorringa, pages 255-256 Top of page

BOOK REVIEW

Transfrontier Conservation Areas: People Living on the Edge Jan Kees van Donge, pages 330-331

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Insufficient Funds: The Culture of Money in Low-wage Transnational Families Hasan Mahmud, pages 331-333 The Politics of Public Sector Performance: Pockets of Effectiveness in Developing Countries Joseph R A Ayee, pages 333-335

ECONOMIC ANNALS

Web page: http://ea.ekof.bg.ac.rs/

Volume LX, no. 204, 2015

Contents:

Inflation Targeting Challenges in Emerging Market Countries: The Case of Serbia Dejan Šoškić, pages: 7 – 30 The Sustainability of Serbia`S External Position: The Impact of Fiscal Adjustment and External Shocks Emir Zildžović, pages: 31 – 60 Pricing Strategy in the Context of Durable Goods Monopoly with Discrete Demand Paulo Maçãs Nunes, pages: 61 – 74 External Relationships and Marketing Practices in Serbian Firms: The Intangible Capital Perspective Sanja Mitić, pages: 75 – 104 Transfer of Performance Appraisal Practices from Mnc Parent to Subsidiaries in Serbia Tatjana Ratković and Ranko Orlić, pages: 105 – 126 The Pursuit of a Remedy for Gender Inequality in Wider Europe: Comparison of Policies and Indices in the EU, Nordic Countries, and South East Europe Jasna Kovačević and Dževad Šehić, pages: 127 – 156

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6. EACES OFFICIALS

Managing Board

Saul Estrin

President

Department of Management LSE Houghton St London WC2A 2AE Tel: +44-20 7955 6605 E-mail: s.estrin@lse.ac.uk Website:http://www2.lse.ac.uk/researchAndExpertise/Experts/s.estrin@lse.ac.uk

Magdolna Sass Vice-president

Institute for Economics of the Hungarian Academy of Sciences 1112 Budaörsiút. 45 E-mail:sass.magdolna@krtk.mta.hu Phone: (+36-1) 309-2652 Fax: (+36-1) 319-3136

Website: http://econ.core.hu/english/inst/sass.html

Randolph Bruno

Secretary

School of Arts & Social Sciences University College London 16 Taviton Street London WC1H 0BW, UK Tel: +44(0)20 7679 8757 E-mail: randolph.bruno@ucl.ac.uk Website:http://www.iza.org/en/webcontent/personnel/photos/index_html?key=3235

Jens Hölscher Treasurer

Head of Department Accounting, Finance & Economics The Business School, Bournemouth University Executive Business Centre 89 Holdenhurst Road, Bournemouth BH8 8EB, UK E-mail: jholscher@bournemouth.ac.uk Website:http://staffprofiles.bournemouth.ac.uk/display/jholscher

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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 E-mail: roman.horvath@fsv.cuni.cz Website: http://ies.fsv.cuni.cz/en/staff/horvath

JuergenJerger

EC Member University of Regensburg and IOS Regensburg, nachVereinbarungmitdem E-mail:jerger@ios-regensburg.de Tele: +49-941 943 2697 Fax:+49-941 943-4941 Website: www.wiwi.uni-r.de/jerger

Satoshi Mizobata EC Member

Institute of Economic Research, Kyoto University Yoshidahon-machi, Sakyo-ku, Kyoto, Japan 6068501 Tel: +81-75-753-7144 E-mail: mizobata@kier.kyoto-u.ac.jp Website:http://www.kier.kyoto-u.ac.jp/faculty-e.html#hikaku

Martin Myant EC Member

European Trade Union Institute Bd du Roi Albert II, 5 1210 Brussels Belgium e-mail:MMyant@etui.org Website:http://www.etui.org/About-Etui/Staff/Martin- Myant

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Jan Svejnar EC Member

School of International and Public Affairs Columbia University 420 W. 118th Street New York, NY 10027 USA E-mail: js4085@columbia.edu Website: https://sipa.columbia.edu/faculty/jan-svejnar

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 E-mail: milica.uvalic@unipg.it Website: http://www.ec.unipg.it/DEFS/uvalic.html

UrmasVarblane

EC Member University of Tartu Institute of Economics Narva 4, 51009 Tartu Estonia Tel: +372-737-6361 Fax: +372-737-6327 E-mail: varblane@mtk.ut.ee Website:https://www.etis.ee/portaal/isikuCV.aspx?TextBoxName=urmas+varblane&PersonVID=3198&FromUrl0=isikud.aspx&lang=en

Ivan Vujacic EC Member

Department of Economics and Statistics University of Beograd Kamenicka 6, Belgrade 11000, Serbia Tel: +381-11-3021094 E-mail: ivujacic@ekof.bg.ac.rs Website:http://www.researchgate.net/institution/University_of_Belgrade/department/Department_of_Economics_and_Statistics

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 y_andrei@mail.ru Website: http://www.hse.ru/org/persons/305238/

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Members of the Advisory Board

Wladimir Andreff University of Paris 1-Centre d'Economie de la

Sorbonne Andreff@univ-paris1.fr

Will Bartlett London School of Economics and Political Science w.j.bartlett@lse.ac.uk

Laszlo Csaba Central European University, Budapest Csabal@ceu.hu

Bruno Dallago Università di Trento, Department of Economics Bruno.dallago@economia.unitn.it

Daniel Daianu The Academy of Economic Studies, Bucharest daiandan@b.astral.ro

Jens Hölscher Bournemouth University, England jholscher@bournemouth.ac.uk

Mario Nuti London Business School mnuti@london.edu

Marcello Signorelli Department of Economics, University of Perugia marcello.signorelli@unipg.it

Milica Uvalic Department of Economics, University of Perugia milica.uvalic@unipg.it

Vittorio Valli Università di Torino, Dept. Economia vittorio.valli@unito.it

Hans-Jürgen Wagener Europa Universitaet Viadrina, Frankfurt/Oder mail@hjwagener.de

Tomasz Mickiewicz Aston University mickiewt@aston.ac.uk

Honorary Members: Ronald Dore

Gregory Grossman

Michael Kaser

János Kornai

Marie Lavigne

Angus Maddison

Domenico Mario Nuti

Wladimir Andreff

Ex – Officio Member Michael Keren Michael.Keren@huji.ac.il

Hebrew University Department of Economics

Naphtali Bldg. Scopus Campus, 91905 Jerusalem (Israel) Tel: +972-26528521; Fax: 972-2-5816071

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Editorial:Editorial:Editorial:Editorial: This 74th issue of EACES quarterly newsletter includes the message of the president that highlights three

major issues: successful completion of the first world congress on comparative economics; confirmation of the second world congress in St. Petersburg, Russia; and the progress regarding the forthcoming bi-annual EACES conference in Regensburg, Germany. The president has praised the roles played by Mario Nuti, Marcello Signorelli and Jan Svejnar in organising the historic event of First World Congress on Comparative Economics. The next World Congress will be held in St Petersburg in two years from now. Likewise, EACES will organise the next biennial conference in 6-8 September 2016 to be held in Regensburg, Germany, which are already well advanced. The likely theme of the conference will be Comparative Economic Development in the Long Run. The call for papers will be after a couple of months from now.

Section 2 of this newsletter includes three important calls for papers. 7th Joint IOS/APB/EACES Summer Academy on Central and Eastern Europe will be organised by the Institute for East and South-East European Studies (IOS, Regensburg) to be held in APB Tutzing, Germany, during 27-29 July 2015. Likewise, Financial Development in Transition and Post-transition Countries will be held during September 11-12 2015 at Department of Economics, University of Belgrade, Serbia. EACES and Higher School of Economics will jointly organise an workshop on ‘Russian Firms in Comparative Perspective’ in 21-22 April 2016, Moscow, Russia. Individuals will follow the link and submit the papers to these workshops in due course. Professor Amartya Sen (Nobel Laureate in Economics, 1998) delivered a lecture on “Ethics and Economics” at the University of Perugia on May 7, 2015. Section 3 gives a link to access the synopsis and video of the lecture. Furthermore, this section also presents a report on the conference “Achievements and Challenges for the Emerging Economics of Central Europe” held in 22-24 June 2015 as part of the School of Slavonic and East European Studies’ centenary celebrations organised by the Economics and Business Group of the University College London. Information regarding the establishment of Stiglitz Essay Prize and call for essays for the same by International Economic Association is also included in this section. Section 4 is all about the reminders of the forthcoming conferences/seminars/workshops. Four of these events are organised by July 2015 and include EACES-HSE Workshop, EACES-HSE Workshop Moscow, 4th ICSID Conference 2015 on ‘Institutions, Elites and Collective Action in the Developing World’, and Third Annual Conference of IOS. The Role of State in Varieties of Capitalism (SVOC): Achievements and Challenges for Central and Eastern Europe and the Emerging Markets will be organised in November 2015. Journals associated with comparative economic societies and their recent publications are in Section 5. They include Economic Systems, Post-communist Economies, Comparative Economic Studies, Journal of Comparative Economics, European Journal of Development Research, and Economic Annals. The editor welcomes any comment/suggestion for the improvement of the newsletter. The submissions of the contents to include in the newsletter are requested to deliver in the form of hard copy or (preferably) electronic copy as a Microsoft Word file to:

Sanjaya Acharya E-mail: sanjaya.acharya@gmail.com

June 2015

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: http://www.eaces.net/public.html.