The Fudan-HSBC Economics Lectures
Chinese Economy
Loren Brandt and Xiaodong Zhu
December 7-16, 2011
Lecture 1: Long-run Economic Development
Loren Brandt, Debin Ma, and Thomas Rawski, “Chinese Economic History: A Review
Essay”, 2011.
Kenneth Pomeranz, The Great Divergence, pp 1-27, 211-96.
Tuan-Hwee Sng, “Size and Dynastic Decline: The Principal-Agent Problem in Late
Imperial China”, mimeo, 2010.
Xu, Chenggang, “The Fundamental Institutions of China’s Reforms and Development”,
forthcoming, Journal of Economic Development.
Lecture 2: Inequality
Dwayne Benjamin, Loren Brandt and John Giles, “The Evolution of Income Inequality in
Rural China”, Economic Development and Cultural Change, (July 2005).
Dwayne Benjamin, Loren Brandt, and John Giles, “Did High Inequality Impede Growth
in Rural China ”, forthcoming, Economic Journal.
Dwayne Benjamin, Loren Brandt, John Giles and Sangui Wang, “Income Inequality
During China’s Economic Transition” in China’s Great Economic Transformation,
Cambridge University Press, 2008.
Lecture 3: Industrial Upgrading and Firm Dynamics
Loren Brandt, Thomas Rawski and John Sutton, “China’s Industrial Development” in
China’s Great Economic Transformation, Cambridge University Press, 2008.
Loren Brandt, Johannes Von Biesebroeck and Yifan Zhang, “Creative Accounting or
Creative Destruction: Firm-level Productivity Growth in Chinese Manufacturing”,
forthcoming, Journal of Development Economics.
Loren Brandt and Eric Thun, "The Fight for the Middle: Upgrading, Competition, and
Industrial Development in China", World Development (November 2010).
Lecture 4: Growth and Structural Transformation
Alwyn Young “Gold into Base Metals: Productivity Growth in the People’s Republic of
China during the Reform Period,” Journal of Political Economy (December 2003).
Diego Restuccia, Dennis Tao Yang and Xiaodong Zhu “Agriculture and Aggregate
Productivity: A Quantitative Cross-country Analysis,” Journal of Monetary Economics
(2008)
Loren Brandt, Chang-Tai Hsieh and Xiaodong Zhu “Growth and Structural
Transformation in China” in China’s Great Economic Transformation, Cambridge
University Press, 2008.
Loren Brandt and Xiaodong Zhu “Accounting for China’s Growth,” University of
Toronto Working Paper, 2010.
Lecture 5: Resource Reallocation and Aggregate Productivity Growth
Chang-Tai Hsieh and Peter Klenow “Misallocation and Manufacturing TFP in China and
India,” Quarterly Journal of Economics (2009)
Loren Brandt, Trevor Tombe and Xiaodong Zhu “Factor Market Distortions across Time,
Space and Sectors in China,” mimeo (2011)
Zhenjie Qian and Xiaodong Zhu “Why Is Labour Income Share So Low in China?”
mimeo (2011)
Xiaodong Zhu “Understanding China’s Growth: Past, Present and Future,” mimeo (2011)
Lecture 6: Financial Reform, Monetary Policy and Inflation
Loren Brandt and Xiaodong Zhu “Redistribution in a Decentralized Economy: Growth
and Inflation in Reform China,” Journal of Political Economy (April, 2000)
Loren Brandt and Xiaodong Zhu “Soft Budget Constraints and Inflation Cycles: A
Positive Model of the Macro-Dynamics in China during Transition,” Journal of
Development Economics (2001)
Loren Brandt and Xiaodong Zhu “What Ails China: A Long-Run Perspective on Growth
and Inflation (or Deflation) in China,” in East Asia in Transition: Economic and Security
Challenges, University of Toronto Press, 2002.