On the 15th of January, 2014, APU welcomed a seminar delivered by Professor Kwanho SHIN from the Department of Economics of Korea University, with the title “Growth Slowdowns Redux: New Evidence on the Middle-income Trap”.
During the seminar, Professor Shin started by explaining the “middle-income trap” phenomenon that is faced by many countries during their economic development stages. The particulars of China’s case, meanwhile, has revealed several research questions, and updates to theories addressing growth prospects from his previous paper. As a continuation, Professor Shin further illustrated his current methodology with updated data and the models applied during the research together with correlates, variables, and determinants employed. As new features, he and his research group added “human capital”, “political regime change” and “external factors” and others. as determinants. Their conclusions offered valuable advices to the fast developing countries that might likely face the “middle-income trap”. “High quality human capital could reduce the probability of a slowdown” and “a large share of high-tech exports reduces the likelihood of a slowdown”, are examples of advice that can be used especially in China’s case.
Different from the conventional end session Q&A, Professor Kim arranged the questions to be asked during the seminar. A range of questions from different countries’ perspectives was lively discussed by both faculty and graduate students in the audience. One heated topic involving the “constant” high GDP growth of China was academically wrestled from different disciplines, and arose several inspiring observations. This seminar was successfully concluded with a big ground of applause.
Written by (Edison) Xiaolong ZOU, PhD Student, GASD.