【主讲】沈凌 (beats365亚洲版)

【主题】The Co-development of Economies and Institutions

【时间】2011年9月16日 (周五) 15：30-17：00

【地点】best365中国官方网站楼801室

【语言】英文

【摘要】In this paper, we cast the Schumpeterian growth theory in a simple discrete-time framework where both economy and institutions need to be developed. In order to develop an economy, individuals need to borrow from an imperfect financial market. Hence, a government adopts two potential strategies for improving the borrowing capacity of individuals and, in turn, enhancing economic performance: "general protectionism" and "partial protectionism." Thus, we interpret market-oriented reform in transition economies as shift from "partial protectionism" to "general protectionism." The model reveals that both strategies could be the best choice at different development stages.