STUDIES IN ECONOMIC TRANSITION

COMPARATIVE

ECONOMIC STUDIES

IN EUROPE

A Thirty Year Review

Edited by

Wladimir Andreff

Studies in Economic Transition

Series Editors

Jens Hölscher

The Business School

Bournemouth University

Bournemouth, Dorset, UK

Horst Tomann

Department of Economic Policy

and Economic History

Freie Universitaet (FU) Berlin

Berlin, Germany

This series brings together theoretical and empirical studies on the trans-

formation of economic systems and their economic development. The

transition from planned to market economies is one of the main areas of

applied theory because in this ﬁeld the most dramatic examples of change

and economic dynamics can be found. It is aimed to contribute to the

understanding of speciﬁc major economic changes as well as to advance

the theory of economic development. The implications of economic

policy will be a major point of focus.

More information about this series at

http://www.palgrave.com/gp/series/14147

Wladimir Andreff

Editor

Comparative

Economic Studies

in Europe

A Thirty Year Review

Editor

Wladimir Andreff

Pantheon-Sorbonne University

Paris, France

ISSN 2662-6675 ISSN 2662-6683 (electronic)

Studies in Economic Transition

ISBN 978-3-030-48294-7 ISBN 978-3-030-48295-4 (eBook)

https://doi.org/10.1007/978-3-030-48295-4

Nature Switzerland AG 2021

This work is subject to copyright. All rights are solely and exclusively licensed by the

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In Honour of Horst Brezinski

Contents

Introduction 1

Wladimir Andreff

Political Economy in Comparative Studies

The Political Economy of Socialism Revisited 13

Hans-Jürgen Wagener

The Development of Thinking on the Czechoslovak

Economic Transformation 35

Martin Myant

The Hard Budget Constraint as the P illar of the Economy 57

Michael Keren

Illiberal and “Inward-Looking” Drives: What Fuels Them? 73

Daniel Daianu

The Political Economy of Sovereign Wealth Funds 97

Jürgen Jerger

vii

viii CONTENTS

Comparative Economics Still on the Tracks

European Higher Education: Challenges and Achievement 111

Bruno Dallago

Eurozone: Crisis, Policies and Reforms 149

Enrico Marelli and Marcello Signorelli

Brexit: The Lure of the Neoliberal Thought Collective 171

Jens Hölscher and Peter Howard-Jones

The Limits of Europe: Lessons from Post-Communist

Experience for the Post-Brexit Union 191

László Csaba

Eurozone Membership and Foreign Direct Investment 211

Randolph Luca Bruno and Saul Estrin

Multinationals from Post-socialist Countries: How Large

Their Foreign Investments Can Be? 227

Magdolna Sass

Non-Observed Economy vs. Shadow Economy

and Informal Employment in Poland: A Range

of Mismatching Estimates 249

Philippe Adair

The Yugoslav Successor States: From Self-Management

Socialism to Political Capitalism 279

Will Bartlett

Is (Post-Communist) China Becoming a Dominant

Economic Power in South East Asia? 297

Desmond Okwor and Johannes S tephan

CONTENTS ix

The Power of Technology in the US and China:

A Comparison 321

Vittorio Valli

New Extensions of Comparative Economic Studies

Electronic Commerce—Markets, Competition, and Social

Welfare: A Clash with History of Economic Thought 357

David M. Kemme

The Economic Determinants of the Olympic Performance

in Communist and Post-Communist Countries 377

Wladimir Andreff

Introducing Hard Budget Constraints Without Restricting

Entrepreneurs: The Role of Voluntary Agreements

in UEFA’s Club Licensing and Financial Fair Play

Regulations 413

Egon Franck

Index 439

Notes on Contributors

Philippe Adair, Ph.D. in Economics and Ph.D. in Sociology, is the

former Dean of the Faculty of Economics and Management, University

Paris-Est Créteil. He is a member of the ERUDITE research team and

has supervised thirteen PhDs. He taught i n Algeria, Djibouti, Morocco,

Poland, Tunisia, Ukraine and Vietnam. He specialises in labour economics

and ﬁnancial analysis. His two main research topics are the informal

economy and small businesses funding including microﬁnance in devel-

oping/transition and developed countries. His areas of expertise are the

EU and North Africa. He records over 100 publications, including chap-

ters in ten books and twenty-ﬁve articles in ranked journals. References:

Philippe Adair at IDEAS ideas.repec.org/e/pad118.html, Philippe Adair at

ResearchGate www.researchgate.net/.

Wladimir Andreff Emeritus Professor at the University Paris 1

Panthéon-Sorbonne; President of the Scientiﬁc Council at the Observa-

tory of the sports economy, French Ministry of Sports; EACES Honorary

Member and former President (1996–1998); 2019 Chellarurai Award

of the European Association of Sport Management; Honorary Presi-

dent of the International Association of Sports Economists and of the

European Sports Economics Association; former President of the French

Economics Association (2007–2008). He has taught in 15 universities

abroad (Algiers, Rio de Janeiro, Quebec, Beijing, Moscow, Istanbul,

San Marino, Novosibirsk, Tashkent, Prague, Santo Domingo, Ekaterin-

burg, Sochi, Sao Paulo). He serves as a member of nine editorial boards