NYU Urban Seminar: Bertrand Renaud on China’s Growth Transition
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On April 5th, the Spring 2016 NYU Urban Seminar Series, co-hosted by the NYU Furman Center and Marron Institute, welcomed Bertrand Renaud, a consultant and former senior housing finance advisor to the World Bank. He led a discussion entitled, "Urban dimensions of China's growth transition in an East Asian perspective," which explored how the experiences of Japan, South Korea, Taiwan, and the city states of Singapore and Hong Kong help to explain the recent urban experience of China's recent privatization of housing.
Renaud suggested that in order to understand the dynamics of today’s East Asian housing systems, one has to go back to the decades of growth in these societies, when the institutional structure of mass housing markets developed. In East Asia, Renaud's research explains, housing institutions have remained remarkably path-dependent until today. The dynamics of urban land and housing prices observed at the peak of China’s growth take-off parallels the individual experiences of the five other East Asian economies. He also discussed the structural reasons why East Asian housing cycles differ from western housing cycles.
The NYU Urban Seminar series is co-hosted by the NYU Furman Center and the Marron Institute. The speaker series is focused on research with implications for urban policy, and features a variety of researchers from across the U.S. discussing their work. The NYU Urban Seminar is open to the public; registration is required.