【CESS】Mild Government Failure

  • 研討會日期 : 2023-03-28
  • 時間 : 09:00
  • 主講人 : Professor Shang-Jin Wei (Columbia University)
  • 地點 : Online
  • 演講者簡介 : Professor Shang-Jin Wei received his Ph.D. in Economics from the University of California, Berkeley in 1992. He is currently N.T. Wang Professor of Chinese Business and Economy and Professor of Finance and Economics at Columbia University's Graduate School of Business and School of International and Public Affairs. He is a noted scholar in international finance, trade, and the Chinese economy.
  • 演講摘要 : A relatively mild form of government failure--bureaucrats can count but do not differentiate quality--can significantly affect the efficiency of industrial policy. In addition, patent trade can augment the distortion in the policy. We investigate these ideas in the context of China's largest pro-innovation subsidy program using a structural model. We find that the return to the subsidy program is -19.7% (but would be 8% if the bureaucrats could differentiate quality). A significant portion of the welfare loss is enabled by patent trade.