Micro-Macro Determinants of Growth in Emerging Economies
Jun 20, 2016 09:00 AM
End: Jun 21, 2016 06:00 PM
Location: UCL SSEES
In the aftermath of the 2008-09 financial crisis, growth has been slowing down in developed economies and emerging economies, even though it had been thought that emerging economies could de-couple from advanced economies and become the main engine of global growth. A variety of reasons has been offered to explain such slow growth, including slowing technological change, balance sheet recessions created by the private debt overhang, and insufficient demand. In the case of emerging economies, the current growth malaise is also related to the long-term difficulties for middle-income economies to converge to high-income status: the so-called “middle-income trap”.
This two-day conference will focus on the long term and endogenous factors explaining low growth in emerging economies, in particular looking at micro-macro determinants of productivity. Recent research has shown that to understand the forces shaping aggregate productivity, researchers need to go beyond aggregate explanations and analyse the dynamics of knowledge diffusion and productivity catch-up across industries and firms. In particular, it has been noted that growth slowdown is not so much due to a slowing of innovation but rather comes from a slowdown in the pace at which innovations spread throughout the economy. To understand these issues, the conference participants will present their research on innovation, technology upgrading, the integration of emerging economies into the global economy, human capital, structural change, and financial development. Thorsten Beck (Cass Business School), Chiara Criscuolo (OECD), Paul de Grauwe (LSE), Slavo Radosevic (UCL), and Xiaolan Fu (Oxford) will be Keynote speakers at the conference.
The conference is the first conference organized by the Centre for Comparative Studies of Emerging Economies (CCSEE). Since June 2015, UCL is hosting CCSEE to support the development of its research agenda, in five broad areas: (i) Institutions, innovation, and growth; (ii) Financial markets, banking and financial fragility; (iii) Social exclusion, political participation and migration; (iv) Natural resources, energy, and security; and (v) Statistics, in particular for the CEE region.
If you are interested in attending, please email Dr Raphael Espinoza: email@example.com