DEFINITION of 'Nakahara Prize'
An award issued to a Japanese economist under the age of 45 who has made important contributions to the field of economics. The Nakahara Prize is awarded annually by the Japanese Economic Association and is named after Nobuyuki Nakahara, a former board member of the Bank of Japan.
BREAKING DOWN 'Nakahara Prize'
The Nakahara Prize was first awarded in 1995, and focuses on economists who earn international recognition rather than solely domestic recognition for their work. It is designed to award younger economists, as the maximum age of a winner is set at 45.