Prof. Wagner Lectures on Macro Economy
At the invitation of Center for Macroeconomic Research of Xiamen University, Prof. Helmut Wagner, Chair in Macroeconomics, Faculty of Economics, University of Hagen, director at the Hagen Institute for Management Studies(Macromanagement), visited the center from 3rd to 10th May, 2015. During his visit, Prof Wagner gave a series of lectures to the students and teachers of the School of Economics.
In the lecture “Structural Change and Mid-Income Trap——Under which conditions can/will China succeed in converging toward higher income status”, Prof. Wagner pointed out that China has achieved extra development for a period of time by postponing, by means of human intervention, the deindustrialization. Germany used the similar strategy to successfully get over the mid-income trap, but he still believed that such a strategy has potential perils. He used analogical model to predict China’s economic development, explaining the importance of the productiveness of tertiary sector to China’s economy in the future. In addition, he also predicted that China might do in the future in its reform of system and the relative researches.
In another lecture “Will the Eurozone Survive? ——The Challenge of Regional Divergence”, Prof. Wagner endorsed the view that the desire to join in Eurozone can inspire some countries to reform their systems, which, according to him,has a positive effect on the reform of systems and convergence of economy in the process of European integration. But he did not agree that some countries can get in Eurozone “in advance”, because that would result in the “stalling” of reform, and the re-germination of divided economy.
In the topic “Which are the adequate answers to house/asset price booms?——Lessons from other countries”, Prof. Wagner analyzed the reasons for house/asset price booms in China, and pointed out the problems China government has in dealing with the issue.
Wagner’s visit is just the beginning of the cooperation between the Center for Macroeconomic Research of Xiamen University and University of Hagen, as well as the Hagen Institute for Management Studies (Macromanagement). Both agreed to further discussion on the cooperation in detail.
