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BK21 (Brain Korea 21 PLUS)

Endogenous Structural Transformation in Economic Development

Date: Wednesday, Dec 9, 2020, 10:30 ~ 13:30
Speaker: Justin Yifu Lin and Haipeng Xing
Location: 국제회의실(16동 349호)

BK-21 사업단 특강 안내 메일을 드립니다. 관심 있는 분들의 많은 참여를 바랍니다.


BK21 특강:  


연사 : Justin Yifu Lin and Haipeng Xing


주제 : Endogenous Structural Transformation in Economic Development 


시간 : 12월 9일 오전 10:30분 (On & Off 병행, 참석자에 한해 점심식사 제공)



주제: Endogenous Structural Transformation in Economic Development 

시간: 2020년 12월 9일  10:15 오전 서울


Zoom 회의 참가


회의 ID: 850 4852 8285


* 첨부된 파일은 Abstract 입니다. 


Special Lecture

co-hosted by the BK21 Program of Econ. Dept and Center for Comparative Economic Studies of IER, SNU.


Speaker: Justin Yifu Lin (Peking Univ. China; former chief economist of the World Bank)

                and Haipeng Xing (SUNY at Stony brook)


Topic:   Endogenous Structural Transformation in Economic Development 


Moderator: Keun Lee (SNU, Econ. dept)

Panelist:    Se-jik Kim (SNU, Econ dept)

                  Hyeok Jeong (SNU, GSIS)

                 Junhee Hahn (Peking Univ, China).


Date: Dec. 9, 10:30AM (followed by  lunch among onsite participants)


Format: Zoom-based seminar (detailes to be announced later).


Abstract of the Paper (full text available upon request)


The structures, including technologies, industries, infrastructure and institutions, in a country have three attributes, namely, structurality, durationality, and transformality. The paper proposes a novel method to model the structural transformation in a market economy. With the common knowledge assumption, the paper proposes a generic model combining optimal control and optimal switching to study the static equilibrium and dynamic equilibrium of resource allocations under a given industrial structure and the equilibrium when the condition for transforming industrial structures arises by a social planner to maximize the representative household’s utility in a market economy. The paper establishes the mathematical underpinning of the static equilibrium, dynamic equilibrium and structural equilibrium. The generic model and its equilibria are then extended to economies with complicated economic structures consisting of hierarchical production, composite consumption, technology adoption and innovation, infrastructure, and economic and political institutions. The paper concludes with a brief discussion of applications of the proposed methodology to economic development problems in otherscenarios. 

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