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【时间】2014年3月19日（周三）12：15－13：45
【地点】明商0202
【主讲】邓敏婕 中国人民大学经济学院
【点评】夏晓华 中国人民大学经济学院副教授
【主题】Growing (with Capital Controls) Like China (written by Zheng Song, Kjetil Storesletten, and Fabrizio Zilibotti, Working Paper, 2013)
【摘要】This paper build on Song et al. (2011) who construct a growth model consistent with salient features of the recent Chinese growth experience. The salient features of the theory are asymmetric financial imperfections and heterogeneous productivity across private and state-owned firms. Capital controls and regulation of banks’ deposit rates stifles competition in the banking sector and mitigates the lending to productive private firms. Removing this regulation would accelerate the growth in productivity and output. A temporarily undervalued exchange rate reduces real wages and consumption, stimulating investments in the high-productivity entrepreneurial sector. This fosters productivity growth and a foreign surplus. A high interest rate limits the disadvantage of financially constrained firms, reduces wages and increases the speed of transition from low- to high-productivity firms.

【主持】陈彦斌 教授
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人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。
联系人：陈小亮 E_mail: chenxiaoliang2200@126.com
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                                                经济学院
                                                中国经济改革与发展研究院