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.