Zhang Wuchang (193565438+February 1-), a Hong Kong-born economist, is one of the representatives of new institutional economics, and graduated from the Economics Department of UCLA. Professor Zhang Wuchang is one of the founders of modern new institutional economics and modern property rights economics. He was born in Hong Kong on 1935. During the period of War of Resistance against Japanese Aggression, he took refuge in Guangxi with his parents. He heard and witnessed the hardships in rural areas of China, and he hoped that China would be prosperous and the people would be happy since he was a child. His book "The Theory of Tenant Farmers" won the Political Economy Award of the University of Chicago.

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