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Justin Yifu Lin

Justin Yifu Lin

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Justin Yifu Lin

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  1. From Flying Geese to Leading DragonsNew Opportunities and Strategies for Structural Transformation in Developing Countries Justin Yifu Lin

  2. Introduction • Sustained income growth is a modern phenomenon • How can governments of low-income countries accelerate structural change and income growth • Exploiting latecomer advantage

  3. The Mechanics and Benefits of Structural Change • Long-term growth depends on continuous structural transformation • Flying geese for structural change • Transformation out of agricultural activities in rural areas

  4. Why have Development Strategies Failed? • Structuralism after WWII • Washington Consensus

  5. Framework for Economic Growth • Structure of an economy’s factor endowment varies • Each level of economic development is at a point on a continuum • Following comparative advantage is key • Market is a necessary mechanism

  6. Sustained Economic Growth • Carefully follow comparative advantage • Technological innovation and productivity improvement in agriculture • Investment in human capital and infrastructure

  7. Questions