On July 19, 2013, lifetime professor Franklin Allen from Financial and Economic Department of Wharton Business School held an excellent academic report for teachers and students from College of Economics and members of the summer camp in the building of College of Economics, Room 408. The report was hosted by professor Xianhai Huang, executive vice dean of College of Economics.
The report began in the warm applause. Professor Xianhai Huang introduced Allen’s academic achievements, and expended warm welcome to Allen on behalf of the School of Economics, Zhejiang University.
Franklin Allen is a full professor of Wharton Business School who majored in finance and economics. His research direction contains corporate finance, asset pricing, financial innovation, financial system and financial crisis. In the recent years, his works include “Principles of Finance In Company”, ”The Stability of the Real Estate Market: Financial Innovation In the Future”, “Investing Future: the Growth And Innovation leaded by market” and so on. Professor Allen joined the Wharton Business School after got his doctor’s degree of Oxford University in 1980. In his teaching career which was more than 20 years, he has gained the teaching awards every year. Therefore, he is one of the most respected star professor of Walton Business School students.
In the report, professor Allen mentioned that the remarkable development of East Asian economies overthrew most research relating to legislation, institution, finance and economic growth, especially in China, South Korea and Taiwan. He raised a new horizon beyond legislation comparison and legal system. And he explained the reason for rapid economic growth in Asian Countries referencing view concerning economic growth and democracy. Meanwhile, he pointed that the economic growth mainly benefit from the democracy and legal system under static environment. However, in a changing environment, democratic law may hinder economic growth in return.
During the report lasted about one and a half hour, professor Allen shown a high academic style by expressing clear logic, careful thinking and fluent speaking. In the question session, the atmosphere reached a climax. Combined with the reality and their own thinking, teachers and students put forward their questions on why and how to maintain growth of Chinese economy. Professor Allen answered their questions patiently. He confirmed the opinion that “China and some other Asian countries are different from the western political system, which helps the development of the national economy in a certain degree”, and made a further communication with students during the Q&A session.
Professor Allen given a rich academic feast for teachers, students and members of the summer camp named “private economy trip” in the report.
