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A framework for rethinking development in China

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If you have a question about this talk, please contact Dr. Jing Chen 陈靖 博士.

Dr. LIN Yifu is a PRC economist and Chief Economist, Senior Vice President of the World Bank. He is the founder and director of the China Center for Economic Research, former professor of economics at Peking University, and at the Hong Kong University of Science and Technology.

In his original paper, he first points to two main thoughts – Old Structural Economics and Neoclassical Economics. Old Structural Economics became mainstream post World War II and argued for a big government role. Neoclassical Economics came post stagflation and 1970 inflation episodes and was taken over by rational expectation revolution. He then discusses his new approach which involves a mixture of the two thoughts…

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