Dr. Jeong is an assistant professor of economics at Vanderbilt University. He will present “Complementarity and Transition to Modern Economic Growth.” This paper addresses an interesting question in economic development, the nature of the transition to sustained economic growth. He proposes and analyzes a new growth model that is able to generate a gradual transition to sustained growth. He then estimates key model parameters using data from Thailand’s economic transition of 1976-1996, and finally shows that model simulations replicate well Thailand’s economic transition.