Professor Y.C. Richard WONG, SBS, JP received his Ph.D. from the University of Chicago in 1981. He was Visiting Scholar at the National Opinion Research Center, University of Chicago in 1985 and at the Hoover Institution, Stanford University in 1989. He joined the School in September 1992, served as Director (1997-2000) of the School of Business, Dean (2001-04) and Acting Dean (2004-07) of the Faculty of Business and Economics, and Deputy Vice-Chancellor and Provost (2004-2010).
Richard is founding Director of the Hong Kong Centre for Economic Research (1987-) and the Hong Kong Institute of Economics and Business Strategy (1999-); a recipient of the Sir Antony Fisher International Memorial Award for his work in advancing economic research on policy issues in Hong Kong; and principal investigator of the Area of Excellence Grant in economic policy and business strategy awarded by the University Grants Committee in 1999; Chairman of the Council of the Becker-Friedman Institute, University of Chicago (2015-).
He had served on a number of public bodies, including, the Exchange Fund Advisory Committee, Housing Authority, Industry and Technology Development Council, and University Grants Committee; and on the Central Policy Unit, Chief Executive’s Commission on Innovation and Technology, Commission on Strategic Development-Committee on Economic Development and Economic Cooperation with the Mainland, Council of Advisors on Innovation and Technology, Dental Council, Economic Advisory Committee, Hospital Authority, Pacific Economic Cooperation Council (Hong Kong Committee), Land and Building Advisory Committee, Financial Secretary’s Services Promotion Strategy Group, Research Themes under the Research Endowment Fund Steering Committee, and Commission on Poverty Task Force on Social Security and Retirement Security.
Richard was awarded the Silver Bauhinia Star in 1999 by the Government of the Hong Kong Special Administrative Region in recognition of his contributions to education, housing, and industry and technology development. He was appointed a Justice of the Peace in 2000.
He has been Chairman of the Judging Panel of the DHL/SCMP Hong Kong Business Awards since 2006.
Richard’s current research focuses are public housing in Hong Kong, inequality and intergenerational mobility in Hong Kong, early childhood intervention, the political economy of laissez faire in Hong Kong, and regional economic development in China.
His research on public housing studies the welfare effects of the government public housing strategy and recommends government to correct capital market imperfections in the mortgage loans market to help the public to purchase publicly provided for sale units. It also recommends the sale of existing public rental units to the sitting tenant and new financial arrangements for the unpaid premium on existing publicly provided for sale flats. The policy changes aims to improve efficiency and equity, restore the broken housing ladder, and promote social harmony and stability.
He is studying the political economy for the economic success in Hong Kong during the post-war period focusing on the policy of positive non-interventionism. It includes a detailed analysis of all major facets of the Hong Kong economy and society. Structural transformations of Hong Kong's economy and the new division of labour have given rise to numerous highly vocal special interest groups. The research is devoted to the articulation of the challenges and opportunities presented by the opening of China, the integration of Hong Kong with China under one-country two-system, the rising competition from regional neighbours amidst rapid structural transformation of the Hong Kong economy, and the globalization of world markets, with special emphasis on social mobility and intergenerational inequality.
Richard has led pioneering efforts in studying regional economic development in the Pearl River Delta and Yangzi River Delta regions following China’s economic transformation. His research focused on the critical role of Hong Kong in regional and national economic development from the perspective of institutional change and innovation.
Richard writes a weekly political economy column for theHong Kong Economic Journal, South China Morning Post and maintains a blog at http://www.wangyujian.com/.
- Economics of Human Resources
- Economics of Housing and Land
- Economic Policy and Reform
- Ph.D., A.M., A.B., University of Chicago
- Fixing Inequality in Hong Kong,
Hong Kong University Press, Hong Kong, February 2017, 316 pages.
- 《面對不均再創奇蹟》Fixing Inequality in Hong Kong,
Chung Hwa Book Co., Hong Kong, April 2016, 327 pages (in Chinese).
- “「一帶一路」建設中的香港新興產業平台” (Hong Kong’s Emerging Industry Platform), 『一帶一路與香港』,
in Hong Kong in the Belt and Road Initiative, 林建忠主編，三聯書店（香港）有限公司 Hong Kong Joint Publishing Co. Ltd., Hong Kong, March 2016, pp. 248-279 (in Chinese).
- “如何用經濟學方法在香港實踐扶貧和解決老人貧困” (The Economic Approach to Tackling Poverty and Elderly Poverty),
in 《經濟說、信仰話》 （Economics and Religion), 林潔珍、廖柏偉、宋恩榮主編，宣道出版社, Alliance Press, Hong Kong, July 2015, pp. 26-35 (in Chinese).
- “如何用經濟學方法扶貧和解決老人貧困” (The Economic Approach to Tackling Poverty and Elderly Poverty),
in 《經濟、金融與基督教視角》(Economics, Finance and Christianity), 林潔珍、黃元山主編，上海社會科學院出版社, Shanghai Academy of Social Sciences, May 2015, pp. 109-115 (in Chinese).
- Hong Kong Land for Hong Kong People: Fixing the Failures of Our Housing Policy,
Hong Kong University Press, Hong Kong, January 2015, 219 pages.
- 《芝大經濟學派與市場社會秩序》Chicago School of Economics and the Market Social Order,
Chung Hwa Book Co., Hong Kong, July 2014, 287 pages (in Chinese).
- “重拾政改動力，如期普選特首” (Hong Kong Must Regain Momentum to Deliver a Popularly Elected Chief Executive in 2017),
in 《香港，2014 － 名人眼中的香港政局》, 薛龍樹選編, 中華出版社，Chung Hwa Book Co., Hong Kong, December 2014, pp. 70-72 (in Chinese).
- “香港民主政制的三大主流論說” (Three Narratives on Hong Kong’s Democratic Political Development),
in 《香港，2014 － 名人眼中的香港政局》, (Politics in Hong Kong 2014), 薛龍樹選編, 中華出版社，Chung Hwa Book Co., Hong Kong, December 2014, pp. 67-69 (in Chinese).
- 《香港奇蹟已經幻滅？》Has Hong Kong Lost Its Magic?,
Chung Hwa Book Co., Hong Kong, September 2013, 127 pages (in Chinese)
- Diversity and Occasional Anarchy: On Deep Economic and Social Contradictions in Hong Kong,
Hong Kong University Press, Hong Kong, May 2013, 216 pages.
- 《香港長遠房屋策略和港人港地》Long Term Housing Strategy and Homes for Hong Kong Residents,
Chung Hwa Book Co., Hong Kong, April 2013, 218 pages (in Chinese).
- 《香港深層次矛盾》Deep Contradictions in Hong Kong,
Chung Hwa Book Co., Hong Kong, Aug 2012, 227 pages and China Renmin University Press, Beijing, November 2015, 227 pages (in Chinese).
- "The Importance of Migration Flow to Hong Kong's Future",
(with K F Wong), in HFH Siu and A Ku (eds.), Hong Kong Mobile: Making a Global Population, HKU Press, Hong Kong, 2008, pp. 89-116.
- Made in PRD: Challenges & Opportunities for HK Industry
(with AKF Siu, GSW Choi and EKY Chan), commissioned by the Federation of Hong Kong Industries and sponsored by 118 manufacturing companies, Hong Kong Centre for Economic Research, April 2007, 131 pages.
- "The Asian Financial Crisis, Deflation, and Structural Change in Hong Kong",
(with A. Siu) in Y Shimizu (ed.), Economic Dynamism of Asia in the New Millennium, World Scientific Publisher, 2007, pp. 31-50.
- Retaking Economic Center Stage – Integration and Transformation of the Yangzi River Delta Economic Region
(with X Lu, Z Tao et al), Shanghai People’s Press, Shanghai, PRC, 2007, 272 pages (in Chinese).