【主讲】Jinyu Liu (Tsinghua, SEM) and Min Ouyang (Associate Professor, Tsinghua, SEM)
【主题】The Timing of R&D: China versus the U.S.
【时间】2017年11月28日 (周二) 15：30-17：00
【地点】上海财经大学经济学院楼701室
【语言】英文
【摘要】China’s growth has been spectacular, but has also started to slow down lately. At the purpose of shedding light on China’s future growth path, we examine the cyclical response of one of the most significant growth-enhancing activities, Research and Development, that accompanies this economic slowdown. We compare R&D’s cyclicality in China with that in the US. We found China’s R&D to appear pro-cyclical at the aggregate level as well as at the industry level; and the strength of such cyclicality is in par with that observed for the US R&D. However, we do not observe any asymmetry Chinese R&D’s cyclical response, while such asymmetry is observed to be very persistent for the US. We discuss the causes for the pro-cyclicality of China’s R&D, as well as its consequences on China’s future growth.
