Professor Yang Kaizhong from the Chinese Academy of Social Sciences Lectured at JUFE

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Recently, Professor Yang Kaizhong from the Chinese Academy of Social Sciences gave an academic lecture on the theme of "A Comprehensive Model of China's Economic Growth Sources (GWB Model) - Based on Spatial Economic Thought". The lecture was hosted by Liu Yaobin, Chairman of JUFE, and teachers and students from the School of Applied Economics attended this lecture.

Yang Kaizhong believes that in order to explore the sources of China's economic growth, it is necessary to develop an economic growth driving force model based on complete factor interaction. He delved into the theoretical progress and limitations of existing frameworks for analyzing economic growth drivers, revealing the shortcomings of traditional models for us.

Based on the perspective of increasing returns and spatial integration, Yang Kaizhong built a comprehensive model of economic growth drivers - GWB model, which aims to more accurately explain the internal mechanism of economic growth. Taking the actual situation of China's economic growth as an example, regression analysis was used to verify the effectiveness of the GWB model, and it was concluded that China's economic growth is jointly driven by five aspects: production factors, urbanization, infrastructure, institutions, and transformation efficiency.

Finally, Yang Kaizhong summarized the academic value and application prospects of the GWB model. Liu Yaobin stated that this lecture not only showcased the theoretical depth of the GWB model, but also demonstrated its potential for application in practical economic analysis. He believes that this is an important contribution to economic growth theory and highly appreciates Professor Yang's academic insight.

During the interactive session, teachers and students had a heated discussion with Professor Yang.