Guoqiang Tian awarded China’s highest prize in Economic Science
Tian’s book “China’s Reform: History, Logic and Future” in Chinese has just been awarded China’s highest prize in economic science, the Sun Yefang award, which is in memory of the distinguished Chinese reformist economist.
The book “China’s Reform: History, Logic and Future” was published in July 2014. It fundamentally analyzes the basic outline, difficulties and trends of China’s reform from the perspectives of comparison between history and reality, home and abroad, and theory and practice by use of the basic principles and analytical methods in economics, especially the keyideas on incentives, information, and externalities in mechanism design theory. It also proposes comprehensive and interrelated reforms based on establishing institutional governance, market incentives and social norms, and makes incisive analyses of various issues on reform and development. The key for establishing a good market system and modern society requires a reasonably defined governing boundary between government and market as well as government and society. With these analyses, this book further discusses the principles and directions that should be followed to deepen reform in various (14) fields and gives recommendations for action.
Tian spent five years writing and making numerous reversions. The book provides a panoramic view and lays a solid foundation for understanding Chinese’s reform, especially in its market transition. Since publication, it has attracted wide attention from academia, government departments, industry and media, and becomes increasingly influential.