In Helsinki, March 19-20, 2009
Bank of Finland Auditorium, Rauhankatu 19

In recent years, the Russian and Chinese economies posted rapid growth. Strong economic growth in large emerging market countries has already shifted the balance of global economic activity away from the traditional industrialised countries. What are the factors behind this phenomenal growth? Will it continue? Next March, the Bank of Finland Institute for Economies in Transition (BOFIT) will host a research seminar devoted to the long-term growth potential of two large emerging markets, Russia and China. Cross-country studies including these countries will be considered as well. 


Programme for seminar (PDF)


Thursday, March 19



Opening of the seminar

Seppo Honkapohja (Bank of Finland)


Russia's addiction: The political economy of resource dependence

Keynote address
Barry W. Ickes (Pennsylvania State University)


Determinants of economic growth:
China and Russia versus the rest of the world

Rajeev K. Goel (Illinois State University)
Iikka Korhonen (Bank of Finland, BOFIT)

  Discussion Julan Du (Chinese University of Hong Kong)

12.00-13.45 Lunch (by invitation)



Oil and gas: Strenghtening two basic
drivers for long-term growth in Russia

Rafael Fernández (Universidad Complutense de Madrid)


Management of Russian petroleum resources: Obstacles to long term policies

Arild Moe (Fritjof Nansen Institute)

14.45-15.00 Break



Roundtable discussion:
Energy sector as the driver of
Russia's economic growth

Chair Pekka Sutela (Bank of Finland, BOFIT)
Rafael Fernández (Universidad Complutense de Madrid)
Arild Moe (Fritjof Nansen Institute)
Alexander Plekhanov (European Bank for Reconstruction and Development)
Laura Solanko (Bank of Finland, BOFIT)
Paavo Suni (The Reseach Institute for the Finnish Economy)

18.30 Dinner (by invitation)


Friday, March 20


Do institutions matter? Estimating the effects of institutions on economic performance in China

Ying Fang (Wang Yanan Institute for Studies in Economics, Xiamen University)
Yang Zhao (University of Pittsburgh)


Jenni Pääkkönen (Bank of Finland, BOFIT)


Are there industrial and agricultural convergence clubs in China?

Jenni Pääkkönen (Bank of Finland, BOFIT)

  Discussion Ying Fang (Wang Yanan Institute for Studies in Economics, Xiamen University)

Core-periphery model in urban economic growth: An analysis based on Chinese city-level panel data 1990-2006

Zheng Xu (Fudan University)
Ming Lu (Fudan University)
Zhao Chen (Fudan University)
  Discussion Aaron Mehrotra (Bank of Finland, BOFIT)

11.15-11.30 Break


China as a regulatory state

Julan Du (Chinese University of Hong Kong)
Yi Lu (University of Hong Kong)
Zhigang Ta (University of Hong Kong)

  Discussion Tuuli Koivu (European Central Bank)
12.15-13.00 Informal economy activities and
enterpreneurship: Evidence from RMLS
Byung-Yeon Kim (Seoul National University)
  Discussion Laura Solanko (Bank of Finland, BOFIT)

The private sector development and regional independent innovation in China: Case studies in Zhejiang

Wang, Zhikai (Zhejiang University)
  Discussion Byung-Yeon Kim (Seoul National University)

13.45 Closing of the seminar

Lunch (by invitation)