Who is the most authoritative economic expert in China at present?

As of February 2020, it is Zhang Wuchang.

Zhang Wuchang took the lead in systematically applying the new system to analyze and study China's economic problems, and Zhang Wuchang was the first person. Zhang Wuchang was personally handed down by the famous masters of new institutional economics: Coase, Amen Achien and Demsetz. He has been in contact with North and barzel for many years, and a generation of new institutional economists is ready to appear. Coase mentioned Zhang Wuchang's contribution to new institutional economics many times in his Nobel Prize speech, and North also mentioned Zhang Wuchang's influence on his economic thought many times.

Zhang Wuchang's greatest contribution to the new institutional economics should be to systematically introduce institutional analysis methods into the study of China's economic problems. As early as the end of 1960s, Zhang Wuchang applied the analytical method of property right system to the land reform in Taiwan Province and founded the "New Tenancy Theory". Zhang Wuchang put forward his views on China's agricultural reform, urban enterprise reform, China's financial reform and China's corruption with pure institutional analysis.

Extended data:

Information about Zhang Wuchang:

1. The land use efficiency is the same whether it is subletting, fixed rent or self-cultivation by the landlord. If the property right is weakened, or the government excessively intervenes in resource allocation, it will lead to the inefficiency of resource allocation.

2. Land can be identified as private property rights, the property rights system can be clear, and land can be freely transferred, which is the only way to maximize production factors and land efficiency. This general theory derived from case studies later became a classic of new institutional economics.

3. The main papers are: private property rights and sharing system, transaction cost, risk aversion and contract arrangement choice, contract structure and non-proprietary resource theory, price control theory, contractual nature of enterprises, transaction cost paradigm, etc.

Baidu Encyclopedia-Zhang Wuchang