題 目：Industrial Dynamics, International Trade, and Economic Growth
主講人：Yong Wang博士 香港科技大學經濟系
時 間：2011年12月21日 下午2:00-3:30
地 點：主樓216會議室
主講人簡介：
Yong Wang obtained his PhD in Economics from the University of Chicago in 2009, his MA in CCER at Peking University (2003), and BA at Fudan University (2000). His research interests include Economic Growth, International Trade, Political Economy, China and India Economies. His recent research mainly focuses on the macroeconomic analyses of structural change, industrial dynamics, and industrial policies in developing countries. Yong was a resident research fellow at the World Bank during the 2010-2011 academic year and he has been serving as a consultant there since 2008. his webpage: http://ihome.ust.hk/~yongwang/
內容簡介：
This paper presents a dynamic general equilibrium model to illustrate how international trade and dynamic trade policies aspect industrialization, industrial upgrading, and economic growth in a two-country world, where there is an infinite number of possible industries different in their capital intensities. Analytical solutions are obtained to fully characterize the endowment-driven industrialization and inverse-V-shaped life cycle of each underlying industry along the aggregate
growth path. We show that industrial upgrading and aggregate growth can be facilitated or hampered by the investment-specific technology progress in the trade partner, depending on whether the intertemporal elasticity of substitution is larger than unity. This is because it determines whether the intertemporal terms-of-trade effect dominates the intertemporal market-size effect. We also analytically characterize the growth effect of any arbitrary dynamic trade policies. Accelerating trade liberalization is shown to have a non-monotonic impact on the speed of industrial upgrading and economic growth, again depending on the magnitude of the intertemporal elasticity of substitution.
