China Center for Economic Research Working Paper NO. E2007007 November 2007
Professor Justin Yifu Lin presented his ideas on approaches to development and transition at a distinguished speaker seminar on 5 December 2007. The seminar explored the reasons underlying both the dynamic economic growth of some countriessuch as Japan, newly industrialized economies (NIEs) in East Asia, and recently the People's Republic of China (PRC) and Viet Namand the lack of such success in many other developing and transition countries. The seminar started with an overview of the industrial revolution and the subsequent division of the world into industrialized and non-industrialized countries and asked, "Why are some countries rich and others not?"