Gregory C. Chow is Professor of Economics and Class of 1913 Professor of Political Economy, Emeritus, at Princeton University. He received a BA from Cornell, 1951, and a PhD from the University of Chicago, 1955, and served on the faculty of MIT, Cornell, Harvard and Columbia before joining Princeton in 1970 as the Director of the Econometric Research Program, which was renamed the Gregory C. Chow Econometric research Program in 2001. Prof. Chow is a member of the American Philosophical Society and of Academia Sinica and a fellow of the American Statistical Association and of the Econometric Society. He is the author of 14 books and over 200 articles, specializing in econometrics, dynamic economics, and the Chinese economy. Prof. Chow has served as adviser to the government of Taiwan, the Prime Minister and the Commission for Reconstructing the Economic System of the PRC. He cooperated with the State Education Commission of the PRC to modernize economics education in China, where he hold honorary professorship at ten universities and was awarded three honorary doctor’s degrees.
This book is unique in covering all important topics of the Chinese economy in depth but written in a language understandable to the laymen and yet challenging to the expert. Beginning with entrepreneurship that propels the dynamic economic changes in China today, the book is organized into four broad parts to discuss China’s economic development, to analyze significant economic issues, to recommend economic policies and to comment on the timely economic issues in the American economy for comparison.
Unlike a textbook, the discussion is original and thought-provoking. It is written by a most distinguished economist who has studied the Chinese economy for thirty years, after making breathtaking contributions to the fields of econometrics, applied economics and dynamic economics and serving as a major adviser to the government of Taiwan during its period of rapid development in the 1960s and 1970s. In the last thirty years, the author has served as a major adviser to the government of China on economic reform and important economic policies and cooperated with the Ministry of Education to introduce and promote the development of modern economics in China, including training hundreds of economists in China and placing many graduate students to pursue a doctoral degree in economics in leading universities in the US and Canada. These graduates now play pivotal roles in China and in the US in academics, business or government institutions. The essays, a culmination of the author’s expertise in China over five decades, are being widely read in China. When the author became professor emeritus at Princeton, the University named the Econometric Research Program as the Gregory C. Chow Econometric Research Program in his honor.