Time: 10:00 am - 11:30 am, Apr. 17th, 2026
Speaker: Guo Kaiming (Sun Yat-sen University)
Venue: Zhifuxuan Classroom, Langrun Garden, Peking University
Abstract：
This paper proposes a novel mechanism for explaining secular reallocation of resources between sectors. When sectors differ in returns to scale, increases in production scale result in changes in relative prices, which further lead to structural transformation through a price effect. If sectoral outputs are complements, sectors with larger returns to scale will shrink along economic development.
Speaker：
Guo Kaiming is a professor at Lingnan College, Sun Yat-sen University. His research interests focus on macroeconomics, development economics and the Chinese economy. He has co-authored several publications such as Structural Transformation in Macroeconomy: Theory and Application to China, Macroeconomics and China's Policies.