新闻中心NEWS

返回首页

讲座:Technical Progress and Allocative Inefficiency

发布者:金融系    发布时间:2017-11-03

金融学系列学术讲座 

主 题:      Technical Progress and Allocative Inefficiency

演讲人:    Anpeng Li, Ph.D. Student, Research School of Economics

  The Australian National University       

主持人:   Nan Li, Associate Professor, Department of Finance

               ACEM, SJTU

时间:  2017/11/08, Wednesday, 14:30-16:00

地点:SJTU, Xuhui Campus, ACEM, B1516

Abstract

This paper develops a growth model with heterogeneous firms to study the allocative inefficiency in emerging economies. The firms in this economy learn new technology from the world frontier, and reallocate resources to adapt to the technological change. When a firm starts to catch up with the frontier, it concerns for the uncertainty of future technical progress, and delays the adjustment of production factors as a response. The delayed adjustment generates allocative inefficiency in the early stage of development. Then, technological achievement narrows the gap to the frontier, reduces the future uncertainty, and improves the efficiency. Finally, the resource allocation is more efficient in the new steady state. The model suggests that the cross-country difference in allocative efficiency can be a byproduct of the different stages of development.

About the Speaker

Anpeng Li is a Ph.D. candidate in Economics in the Australian National University, Australia and expects to receive his PhD in 2018. He obtained a B.E. in Food Engineering in 2008 at the Northeast Agricultural University, China, and a MA in Economics in 2013 at Central University of Finance and Economics, China. His research interests include firm dynamics and productivity.