Peking University, Oct.19, 2012: The international academic seminar of New Structural Economics (NSE) was held from October 13 to 15 by National School of Development (NSD), Peking University (PKU). More than 30 specialists attended the seminar and discussed about the concept of NSE brought up by Prof. Justin Lin Yifu, honorary dean of NSD and former senior vice president and chief economist of the World Bank.
PKU Council Chairman Zhu Shanlu sent a congratulation letter. He said that the newly born concept of NSE would be of great help to the third wave of thoughts on economic growth and expressed his hope for the NSD to seize the chance to reinforce international academic cooperation and make greater contribution to the science of economics.
NSE is a concept put forward by professor Justin Yifu Lin, which is based on his research on East Asia, Latin America and south Europe when he was working in the World Bank.
There had been two seminars on the same subject before this one held by NSD. More international specialists were invited this time, including Prof. Alan Deardorff from the University of Michigan, Prof. Roberto Samaniego from George Washington University, Prof. Yongseok Shin from University of Washington, etc.
“The concept of NSE came from my observation on the data changes of the gap between the wealthy and the poor of all the nations since the 18th century. The income gap between the developed countries and the developing ones has increased dozens of times within two centuries, which was thought-provoking. The core of NSE is to use the method of neoclassical economics to investigate the decisive factors of economic structure and their changes during the development, so that a solution can be found for developing countries to apply in economic growth”, said lin. He then pointed out that the so called Low Income Trap as well as Middle Income Trap was both resulted from the developing countries’ disability to make adjustment in time. He also explained the difference between NSE and the Structural Economics.
During the 3-day seminar, scholars discussed a variety of other issues.
Written by: Guo Caichen
Edited by: Zhao Ning, Zhang Jiang
Source: PKU News (Chinese)
http://pkunews.pku.edu.cn/xxfz/2012-10/17/content_254709.htm
