From July 5 to 7, the Chinese Economists Society (CES), in collaboration with Zhejiang University's Institute for Shared and Development Studies, School of Economics, and School of Public Affairs, held the 2024 CES China Annual Conference. The event was supported by the Zhejiang University Institute of Social Sciences. This year's theme was "Advancing High-Quality Sustainable Economic Development in China: Digital Economy, Innovation, and Urban-Rural Common Prosperity".
Speech by Zhou Jianghong, Vice President of Zhejiang University
Speech by Shunfeng Song, Professor at the University of Nevada, Reno and former President of CES
Zhou Jianghong, Vice President of Zhejiang University, and Song Shunfeng, Professor at the University of Nevada, Reno, and former CES President, attended the opening ceremony and delivered speeches. Keynote speakers included Nobel laureate James J. Heckman, Professor at the University of Chicago; Lin Yifu, Dean of the New Structural Economics Institute at Peking University and Honorary Dean of the National Development Research Institute; Yi Gang, President of the China Financial Society and former Governor of the People's Bank of China; Mark R. Rosenzweig, Professor at Yale University; and Zhang Junsen, Dean of the School of Economics at Zhejiang University. Professors Chen Songnian and Gong Sen hosted the keynote presentations, while Professor Li Shi, a senior professor at Zhejiang University and Dean of the Institute for Shared and Development Studies, delivered a welcome speech at the dinner.
Keynote address by Prof. James J. Heckman
In a recent keynote, Professor James J. Heckman discussed the significant effects of typical home visitation programs on child skills, based on the "REACH China" initiative launched in China since 2015. This program aims to enhance intergenerational mobility through weekly one-hour interventions to improve children’s skills. The findings indicate notable improvements in children’s cognitive and language abilities. Integrating micro-level data, Professor Heckman further evaluated the impact of the interventions on underlying skills, emphasizing that understanding the distribution of potential skills can aid in designing more effective educational and training programs to better assess individuals' capabilities and learning outcomes.
Professor Lin Yifu Advocates for a Chinese Model of Modernization
In his principal address, Professor Lin Yifu reviewed the industrialization and modernization processes of Western developed countries, noting that these experiences do not wholly apply to developing nations. Unlike Western modernization, the Chinese model features extensive population scale, common prosperity, a balance between material and spiritual civilization, harmony between humans and nature, and a path of peaceful development. From the perspective of new structural economics, Professor Lin highlighted that the Chinese model capitalizes on the comparative advantages of capital, labor, and natural resources to achieve a unity of efficiency and equity.
Professor Zhang Junsen Discusses Divergences in Chinese Fertility Rates
Professor Zhang Junsen shared his research findings on the variances in fertility rates across China, starting with the country's current population decline. He traced the impact of China’s birth policies since the founding of the People's Republic and identified major contributors to the fertility rate decrease, particularly among women aged 20-29, those with lower educational levels, and non-migrants. His analysis included positive and negative externalities of fertility, highlighting diminished intergenerational and spousal trust among vulnerable groups. By developing a fertility expansion model that considers filial piety culture, Professor Zhang predicts a rise in birth rates driven by demand-side policies and recommends increased human capital investment in children from disadvantaged backgrounds.
Professor Mark R. Rosenzweig Analyzes Grade Inflation, Peer Effects, and Individual Effort
Professor Mark R. Rosenzweig's keynote addressed the phenomena of grade inflation, peer effects, and individual effort within educational settings. With many countries using student rankings as a basis for rewards, he constructed a model of learning and competition based on asymmetric competitor tournament theory. His findings suggest that competition reduces individual effort and peer assistance, while minimizing classroom performance discrepancies could enhance peer learning effects and individual efforts. His conclusions are supported by analyses of U.S. National Education Data (NELS) and refugee resettlement administrative records.
The annual conference evening gala and awards ceremony were held successfully on the 6th. Jianhuan Xu (Singapore Management University) received the Gregory Chow Best Paper Award, and Haochen Zhang (Peking University) received the Gregory Chow Best Student Paper Award. Chufan Lai from Nankai University received the Camphor Seedling Best Paper Award. Linxiang Ye (Nanjing University of Finance and Economics), Suqin Ge (Virginia Tech), Yonghong An and Yang Jiao (both from Texas A&M), Peng Zhan (Zhejiang University), Kaiji Chen (Emory University), Qihong Liu (University of Oklahoma), Yang Song (Colgate University), and Wendong Zhang (Cornell University) were honored with the CES Certificate of Recognition for their contributions. Xuwen Gao, Kang Zhou, Xiaohui Xing, Wenhao Song, and others received the CES Certificate of Appreciation. The Institute for Common Prosperity and Development at Zhejiang University was also recognized with a CES Certificate of Appreciation.
On the afternoons of the 6th and 7th, distinguished guests including Professor Hanming Fang from the University of Pennsylvania, Senior Economist for Social Protection at the World Bank Dewen Wang, Professor Long Xiaoning, Director of the Intellectual Property and Innovation Research Center at Xiamen University Malaysia Campus, Stanford University Professor and Senior Fellow at the Stanford Institute for Economic Policy Research Scott Rozelle, Professor Xi Chen from Yale University, Associate Professor Jeffrey McCullough from the University of Michigan, former Director of the Economics Research Institute at the Academia Sinica, Jian Jinhan, CITIC Chair Professor Lu Yi from Tsinghua University, Distinguished Professor Yi Fujin from Zhejiang University, Dean and Distinguished Professor Zhao Zhong from the School of Labor and Human Resources at Renmin University of China, Distinguished Professor Lu Ming, Executive Dean of the China Development Institute at Shanghai Jiao Tong University and researcher at the China Urban Governance Research Institute, Professor Chen Yuanyuan from Shanghai University of Finance and Economics, Professor Lin Shuanglin, Director of the China Public Finance Research Center at Peking University and member of the Expert Advisory Committee of the State Council's Healthcare Reform Leadership Group, researcher and former Deputy Director Chen Minglang from the Academia Sinica’s Economics Research Institute, Professor Feng Jin from Fudan University, Professor Xing Chunbing from Renmin University of China, Professor Fu Shihe from Wuhan University, and Professor Zhang Junfu from Clark University (listed in no particular order), delivered specialized lectures.
The conference hosted several parallel forums covering a wide range of topics in macroeconomics, urban economics, development economics, environmental economics, finance, labor economics, energy economics, agricultural economics, regional economics, behavioral and experimental economics, and microeconomic theory. Hundreds of scholars shared their latest research findings, engaging in lively discussions and networking, making this conference a resounding success.
Content Source: Official WeChat of the Institute for Shared Development and Research, Zhejiang University
