宏观经济学讨论班

总第111期

中国人民大学宏观经济学讨论班（Macroeconomics Seminar）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（尤其是Bewley模型）并使用计算机模拟研究中国经济改革与发展的重大问题。

【时间】2012年4月10日（周二）12：15－13：45

【地点】明主0304教室

【主持】陈彦斌教授

【主讲】陈朴 博士　365体育官方唯一入口讲师，毕业于明尼苏达大学

【主题】Finance and Development: A Tale of Two Sectors（AER，2011）

【摘要】We develop a quantitative framework to explain the relationship between aggregate/sector-level total factor productivity (TFP) and financial development across countries. Financial frictions distort the allocation of capital and entrepreneurial talent across production units, adversely affecting measured productivity. In our model, sectors with larger scales of operation (e.g., manufacturing) have more financing needs, and are hence disproportionately vulnerable to financial frictions. Our quantitative analysis shows that financial frictions account for a substantial part of the observed cross-country differences in output per worker, aggregate TFP, sector-level relative productivity, and capital-to-output ratios.

联系人：姚一旻

Yaoyimin123@sina.com

365体育官方唯一入口

中国经济改革与发展研究院