University of Toronto
Department of Economics
Eco2704H1F Topics in Growth and Development
Instructor: Professor Xiaodong Zhu
Office: Max Gluskin
House, 150 St. George Street, Room 200
Phone: (416)978-7134 (St. George campus)
Office Hour: Monday 3:00am-4:00am or by appointment
Model-based accounting method
Some basic facts about the evolution of international income levels
· Week Two (September 17)
Structural Transformation: My lecture notes on two basic models of structural transformation
· Week Three (September 24)
Structural Transformation: Long-term Growth
· Week Four (October 1)
Structural Transformation: Cross-Country Income Differences
· Week Five (October 8)
Thanksgiving, no class
· Week Six (October 15)
Kiminori Matsuyama “Structural Change in an Interdependent World: A Global View of Manufacturing Decline.” Journal of
European Economic Association 2009;7(2-3):478-486.
· Week Seven (October 22)
Jessica Burley: Dave Donaldson (2009): Railroads of the Raj: Estimating the Impact of Transportation Infrastructure.
· Week Eight (October 29)
Eric Zhi: Kei-Mu Yi and Jing Zhang (2010): Structural Change in an Open Economies
· Week Nine (November 5)
Diego Restuccia and Richard Rogerson (2008) “Policy Distortions and Aggregate Productivity with Heterogeneous Plants” Review of Economic Dynamics, vol. 11(4),pages 707-720, October
Chang-Tai Hsieh and Peter J. Klenow (2009) “Misallocation and Manufacturing TFP in China and India” Quarterly Journal
of Economics 124, November 1403-1448.
· Week Ten (November 12)
Guest lecture by Diego Restuccia: The Size Distribution of Farms and International Productivity Differences
· Week Eleven (November 19)
Ayesha Ali: Collard-Wexler, A., J. Asker, and J. De Loecker (2012): “Productivity Volatility and the Misallocation of Resources in Developing
John Gillraine: Chang-Tai Hsieh, Erik Hurst, Chad Jones and Peter J. Klenow (2012) “The Allocation of Talent and U.S Economic
· Makeup Class (November 23, 2-3:30pm, GE100)
Chang-Tai Hseh and Peter J. Klenow (2012) "The Life Cycle of Plants in India and Mexico
Atkeson, Andrew and Ariel Burstein (2008), “Pricing-to-Market, Trade Costs, and International Relative Prices," American Economic Review, 98 (5), 1998-2031
· Week Twelve (November 26)
Finance and Development:
Douglas Diamond (1984) “Financial Intermediation and Delegated Monitoring” Review of Economic Studies 51(3) 393-414.
Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Financing Development: The Role of Information Costs,”American
Economic Review, 100(4), pages 1875-91, September.
· Week Thirteen (November 28, 4-7:00pm, GE168)
Shiny Zhang: Laeven, Levine and Michalopoulos (2012) "Financial Innovation and Endogenous Growth", NBER Working
Paper No. 15356
Ashique Habib: Gilchrist and Zakrajsek (2012) "Misallocation Losses Owing to Financial Distortions: Direct Evidence From Dispersion in Borrowing Costs"
Kevin Devereux: Fumio Hayashi and Edward Prescott (2008) “The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy,” Journal of Political Economy, 2008, vol.116, no.4