Renee Birgit ADAMS
Assistant Professor, Department of Finance, Stockholm School of Economics, Sweden / Research Fellow, Swedish Institute for Financial Research, Stockholm, Sweden
In addition to the posts above, Dr. Adams is also Visiting Researcher at Hitotsubashi University, Tokyo, Research Associate at the European Corporate Governance Institute (ECGI), Research Affiliate at the Stockholm Institute for Transition Economics (SITE) and a Founding Member of the Stockholm International Corporate Governance Institute (SICGI). Prior to her current position, Dr. Adams served as Visiting Scholar, Finance Department, Stern School of Business at New York University, New York, (2001-2003), and as Economist, Banking Studies Function, Research and Market Analysis Group, Federal Reserve Bank of New York (1999-2003). Her research focuses on corporate governance, governance of financial institutions, corporate finance, and the economics of organizations. She holds a Ph.D. in economics from the University of Chicago and an M.S. in mathematics from Stanford University.
Major works: "A Theory of Friendly Boards" (with Daniel Ferreira), Journal of Finance, forthcoming; "Powerful CEOs and their Impact on Corporate Performance" (with Heitor Almeida and Daniel Ferreira), Review of Financial Studies, forthcoming; "Do Directors Perform for Pay?" (with Daniel Ferreira), Journal of Labor Economics, revised and resubmitted, 2004; "Is Corporate Governance Different for Bank Holding Companies?" (with Hamid Mehran), Economic Policy Review, 2003; "Identifying the Effect of Managerial Control on Firm Performance" (with Joao Santos), Journal of Accounting and Economics, (3rd ed. under review), 2002.
Professor, Hitotsubashi University Graduate School of International Corporate Strategy
Professor Ahmadjian taught at Columbia University's Graduate School of Business and the Graduate School of International Corporate Strategy at Hitotsubashi University before assuming her current post. She also worked for Mitsubishi Electric Corporation and Shearson Lehman Brothers in Japan, and for Bain & Company in the U.S. Her expertise is in corporate governance, organizational change in global environments, comparative institutional analysis in East Asia, inter-organizational networks, and Japanese business and economy. She holds a Ph.D. from the University of California at Berkeley, Haas School of Business Administration.
Major works:"Changing Japanese Corporate Governance," Japan's Managed Globalization: Adapting to the 21st Century, New York: M.E. Sharpe, 2003.
Executive Director, Australia-Japan Research Center, Australian National University, Australia / Reader in the Economy of Japan, Economics Department, University of Oxford, UK / Research Fellow, CEPR, UK
Professor Corbett is Executive Director of the Australia-Japan Research Centre at the Australian National University. She simultaneously holds a part-time position as Reader in the Economy of Japan at the University of Oxford. She is on the editorial boards of the Journal of the Japanese and International Economies (Academic Press) and the book series Japanese Business and Economy (OUP, New York). She also holds positions as Research Fellow at the Centre for Economic Policy Research (CEPR, London), and Research Associate at the Center on Japanese Economy and Business (Columbia University, New York).She is a specialist on current macroeconomic and financial policy issues in Japan. She has written on the Asian financial crisis and on the management of banking crisis in Japan. Her current research interests include electronic finance in the Asia Pacific region and regional trade in financial services. In 2001-2002 she managed a research project for the APEC Finance Ministers' Working Group on Electronic Finance and has received several research grants to further that research. She regularly attends conferences in Japan and the region and has organized several conferences in Tokyo on the Japanese economy with economists from the Boston-based National Bureau for Economic Research.
Associate Professor, Department of Finance and SITE, Stockholm School of Economics, Sweden / Research Affiliate, Financial Economics Program, CEPR, UK
In addition to the posts above, Dr. Mariassunta Giannetti is also Research Associate at the European Corporate Governance Institute (ECGI), Brussels. She was Assistant Professor at the Department of Finance and SITE (2001-2003); Assistant Professor of SITE (2000-2001) at Stockholm School of Economics; and Economist of Research Department at Bank of Italy (1999-2000). Her research interests are corporate finance, international finance, development and economic growth. Dr. Giannetti holds a Ph.D. in economics from the University of California, Los Angeles; a doctoral degree in economics from University of Naples, Federico II, Italy; and a master's degree in economics from Bocconi University, Italy.
Major works: "Which Investors Fear Expropriation? Evidence from Investors' Portfolio Choices" (with Andrei Simonov), Journal of Finance, 2005; "Do Better Institutions Mitigate Agency Problems? Evidence From Corporate Finance Choices," Journal of Financial and Quantitative Analysis, vol. 38-1, pp.185-212, 2003; "Bank-Firm Relationships and Contagious Banking Crises,"Journal of Money Credit and Banking, vol. 35-2, pp. 239-261, 2003; "On the Mechanics of Migration Decisions: Skill Complementarities and Endogenous Price Differentials," Journal of Development Economics, vol. 71-2, pp. 329-349, 2003.
Professor of Finance, Sheffield University Management School (SUMS), UK
In addition to the above post, Professor Marc Goergen serves concurrently as Fellow at the Institute for International Corporate Governance and Accountability, George Washington University Law School, in Washington, DC, and Research Associate at the European Corporate Governance Institute in Brussels. Prior to his current post, he was Senior Lecturer (2002-2004) and Lecturer (1999-2002) in Finance at the School of Management at UMIST, a Lecturer in Finance at the ISMA Centre, Department of Economics at University of Reading (1997-1998), and a Lecturer in Finance at the Manchester School of Accounting and Finance at University of Manchester and at the School of Management, UMIST (1997).His research interests are in empirical corporate finance, specifically corporate governance, corporate ownership and control; initial public offerings, mergers & acquisitions, dividend policy, and investment models. He received his Ph.D. in economics from Keble College at the University of Oxford.
Major Works: "Insider Trading, News Releases and Ownership Concentration" (with Fidrmuc, J. and L. Renneboog), Journal of Finance, forthcoming; "When Do German Firms Change their Dividends?" ( with Renneboog, L. and L. Correia da Silva), Journal of Corporate Finance 11, 375-399, 2005; Dividend Policy and Corporate Governance (with Correia da Silva and L. Renneboog), Oxford University Press, 2004; Corporate Governance and Financial Performance: A Study of German and UK Initial Public Offerings, Cheltenham: Edward Elgar Publishing,1998.
Associate Professor, Graduate School of International Accounting, Chuo University
In addition to the above post, Professor Harada is also Visiting Researcher at the Security Analysts Association of Japan (since 2001) and Associate Editor (since 2000) of Securities Analysts' Journal. Prior to assuming her current post, she was Lecturer at Daito Bunka University (2001-2003), and Researcher at the Japan Securities Research Institute (1997-2001). She also served as Visiting Researcher at the Research Center for Advanced Science and Technology, University of Tokyo (2002-2004), and also at Korea Institute for International Economic Policy (2004 Summer). She has received her Ph.D. in economics from the University of Tokyo in 2003.
Major Works: "Effects of the Bank of Japan's Intervention on Yen/Dollar Exchange Rate Volatility" (with Toshiaki Watanabe), Journal of the Japanese and International Economies, forthcoming; "Dividend Signaling in Context: Evidence from Japan" (with Pascal Nguyen), Pacific-Basin Finance Journal, forthcoming; "Japan Premium and Stock Prices: Two Mirrors of Japanese Banking Crises" (with Takatoshi Ito), International Journal of Finance & Economics, Vol. 10:3, 2005; "Credit Derivatives Premium as a New Japan Premium" (with Takatoshi Ito), Journal of Money, Credit and Banking, 2004.
Fellow, RIETI / Guest Editorial Writer, The Asahi Shimbun
Dr. Kobayashi is also Visiting Fellow at the Ministry of Finance's Policy Research Institute. He joined the Ministry of International Trade and Industry (MITI, currently METI) in 1991 and served as Assistant Director (1991-1995) and Deputy Director (1998-2001). He was Visiting Fellow at the Research and Statistics Department, Bank of Japan, (2001-2002). His research interests are the macroeconomics of the bad debt problem and the banking system, business cycle models, and endogenous growth theory.
He received his Ph.D. in economics from the University of Chicago.
Major works:"Forbearance Impedes Confidence Recovery," Journal of Macroeconomics, forthcoming; "Fiscal Consequences of Inflationary Policies," Journal of the Japanese and International Economies forthcoming; "Debt Disorganization in Japan" (with Masaru Inaba), Japan and the World Economy, 2004; "A Theory of Debt Disorganization," Journal of Restructuring Finance, 2004; The Price of Escape (in Japanese), Nihon Keizai Shimbun, 2003; Trap of the Japanese Economy (in Japanese, co-authored with Sota Kato), Nihon Keizai Shimbun, 2001; Economics of Balance-Sheet Restructuring (in Japanese, co-edited with Mitsuhiro Fukao, Tatsuya Terazawa), Toyokeizai, 2001.
Associate Professor, Waseda University School of Commerce
Dr. Kubo is Associate Professor of Economics at Waseda University. Previously, he spent three years as a Lecturer of Economics at the Institute for Economic Research at Hitotsubashi University. Dr. Kubo received his B.A. and M.A. in economics from Keio University, and his Ph.D. in industrial relations from the London School of Economics. Dr. Kubo teaches and researches in the area of compensation and incentive strategy, corporate governance, corporate finance and organizational economics.
Major works:"Executive Compensation Policy and Company Performance in Japan," Corporate Governance: An International Review, Vol. 13:3, 2005; "Executive Pay in Japan: The Role of Bank-Appointed Monitors and the Main Bank Relationship,"(with Naohito Abe and Noel Gaston), Japan and the World Economy, 17.3 pp 371-394, 2005.
Former Director, Industrial Organization Division, Economic and Industrial Policy Bureau, METI
A graduate of Faculty of Economics at Yokohama National University, Mr. Kusakabe entered MITI (presently METI) in 1982. After working for Trade Policy Bureau, Consumer Goods Industry Bureau, Economic Planning Agency and Basic Industries Bureau, he went to the U.S. to study at University of Rochester in 1989. Coming back to Japan, he worked for Consumer Goods Industry Bureau (1991-1993), Industrial Policy Bureau (1993-1996) and Minister's Secretariat (1996-1997), became Director for Public Utilities Department at Agency of Natural Resources and Energy (ANRE) in 1997 and Director for Information Economy Division of Commerce and Information Policy Bureau in 2001 and served as Director, Industrial Organization Division, Economic and Industrial Policy Bureau from 2002 to 2005. He is Director of Automobile Division, Manufacturing Industries Bureau, METI from September 2005.
Peter Moores Professor of Finance, Said Business School, University of Oxford, UK/ Fellow, CEPR, UK
Professor Mayer is Peter Moores Professor of Management Studies at the Saïd Business School and Director of the Oxford Financial Research Centre. Professor Mayer has written widely on corporate finance, taxation and governance, and on the regulation of financial markets. He has directed the European Science Foundation Network in Financial Markets and the Financial Economics Programme of the Centre for Economic Policy Research. In addition to having held visiting fellowships at Stanford, MIT and Brussels University (ULB), where he was the first Leo Goldschmidt Visiting Professor of Corporate Governance, he is a Delegate to OUP and Chairman of Oxford Economic Research Associates (OXERA). He serves on the boards of several leading academic journals. Professor Mayer read engineering and economics at Oriel College, Oxford, then studied for an M.A. and Ph.D. in economics, completing work on his doctorate while a Harkness Fellow at Harvard in 1980. He has worked at HM Treasury (UK), the City University Business School (where he was Director of the Centre for the Study of Financial Institutions), and at Warwick University (where he was Professor of Economics and Finance) before joining SBS in 1994 as the first professor at the School.
Major works:"Financing the New Economy: Financial Institutions and Corporate Governance," Information Economics and Policy, Vol. 14:2, 2002, pp.311-326; "Governance as a Source Managerial Disciplining," Journal of Applied Corporate Finance, 2001.
Vikas C. MEHROTRA
Associate Professor of Finance, School of Business, University of Alberta, Canada / Visiting Associate Professor of Finance, Institute of Economic Research, Hitotsubashi University
Prior to his current position, Dr. Mehrotra was Visiting Associate Professor of Finance at the Kenan-Flagler School of Business, University of North Carolina in the United States (2001-2002); Associate Professor of Finance (2000-2001) and Assistant Professor of Finance (1992-2000), School of Business, University of Alberta, Canada. His interests are corporate restructuring and governance, capital structure, and financial market microstructure. He obtained his Ph.D. from the University of Oregon in 1992.
Major works:"When Labor Has a Voice in Corporate Governance" (with Olubunmi Faleye and Randall Morck), Journal of Financial and Quantitative Analysis, forthcoming, 2005; "Do Managers Have Capital Structure Targets? Evidence from Corporate Spinoffs" (with Wayne Mikkelson and Megan Partch), Journal of Applied Corporate Finance, Winter 2005; "The Design of Financial Policies in Corporate Spinoffs" (with Wayne Mikkelson and Megan Partch), Review of Financial Studies, 2004; "The Board and Beyond", report in Corporate Decision-Making in Canada, (edited by Randall Morck and Ronald Daniels), Industry Canada Research Series, 1995.
Faculty Fellow, RIETI / Vice Director of Waseda Institute of Finance, and Professor, Waseda University
After serving as Research Associate at the Institute of Social Science, Tokyo University, Professor Miyajima joined Waseda University's School of Commerce in 1987. He has also served at the Reischauer Institute for Japanese Studies, Harvard University as Visiting Researcher (1992-94and 2004-present). He has been Faculty Fellow at RIETI since 2002, Special Research Fellow at the Policy Research Institute of Japan's Ministry of Finance (2001-present), Adjunct Professor at Chung-Ang University (2001-present) Vice President of the Waseda Institute for Corporation Law and Society (2003-present), and Vice Director of the Waseda Institute of Finance (2004-present). His research focuses on the Japanese economy, economic history of Japan, corporate finance, and corporate governance. He holds Ph.D. in Commerce from Waseda University.
Major works:Corporate Governance in Japan: Institutional Change and Organizational Diversity (with Masahiko Aoki, Gregory Jackson), Oxford University Press, forthcoming; Changes and Continuity in Japan (with S. Maswood and D. Graham), Routledge Curzon Press, 2002; Competition for Competitiveness: Business Government Relationships in the Golden Age (with T. Kikkawa and T. Hikino), Oxford University Press, 1999; "The Impact of Deregulation on Corporate Governance and Finance" (M. Tilton and L. Carlile eds.), Is Japan Really Changing Its Ways?, Brookings Institution, 1998.
Prior to his current position, Mr. Oikawa served as Senior Executive Director, Development Bank of Japan (2003-2005); Advisor, Nomura Research Institute, Ltd.(20003-2005); Research Counselor, TEPIA (2002-2003); Commissioner, Japan Patent Office; Director-General, Bureau of Equipment, Japan Defense Agency; Director-General, Coordination Division, Minister's Secretariat; Councillor, Cabinet Secretariat; Director-General, Minister's Secretariat; Director, Bureau of Equipment, Japan Defense Agency; Director, Small Business Division, Director, Small and Medium Enterprises Agency; Counsellor, Mission of Japan to the European Union, Ministry of Foreign Affairs; Director, Paper Industry Division, Consumer Goods and Service Industries Bureau; Economic Cooperation Division, Trade Policy Bureau. He graduated from the University of Tokyo with a B.A. in economics.
Chairman and Representative Director, Teijin Limited
After graduating from the University of Tokyo's Faculty of Economics, Mr. Okitsu joined Teijin Limited. In addition to his current position, he concurrently holds the post of Director, Member of the Board, TMT Machinery Ltd.; and Chairman, Nabtesco Corporation. Previously, Mr. Okitsu served as President & CEO, Teijin Seiki Co., Ltd. His positions at Teijin Ltd. included Director, Member of the Board, (1999); Managing Director, Member of the Board (1996); Director, Member of the Board & Assistant GM, Corporate Planning & Control Dept. (1994); and GM, Hydraulic Equipment Planning Dept. (1986).
Managing Director and Chief Economist Asia, Lehman Brothers Japan Inc
Dr. Paul Sheard is Managing Director and Chief Economist Asia for Lehman Brothers, and is based in Lehmans regional headquarters in Tokyo. He has a Master of Economics and a PhD in Japanese Economy from the Australian National University (ANU) and has lived in Japan for a total of sixteen years. Before entering financial markets a decade ago, he was a well-known academic researcher on Japanese industrial organization and the financial system; he held faculty positions at the ANU and Osaka University, and has held visiting positions at the Bank of Japan and Stanford University. He has twice served on committees of the Japanese Governments Economic Deliberation Council, is a member of the Advisory Board of the Research Institute of Economy, Trade and Industry (RIETI) affiliated with the Ministry of Economy, Trade and Industry, and was a member of a task-force commissioned by the Cabinet Office to oversee its review of the Koizumi governments structural reforms. Among other activities,
Paul sits on the board of Orix Corporation as a non-executive director.
Major Works: International Adjustment and the Japanese Firm (Paul Sheard eds.), Sydney: Allen & Unwin, 1992; Japanese Firms, Finance and Markets (Paul Sheard eds.), Melbourne: Addison Wesley Longman, 1996; The Crisis of Main Bank Capitalism (in Japanese) 1997, Toyo Keizai Shinposha (won the prestigious Suntory Gakugeisho prize); Corporate Mega-Restructuring (in Japanese) 2000, Toyo Keizai Shinposha.
Faculty Fellow, RIETI / Associate Professor, Institute of Economic Research, Hitotsubashi University
Before appointment to his current post in 2004, Professor Shimizutani worked at the Cabinet Office of Japan (2001) and the Economic Planning Agency of Japan (1990). His primary research area is micro-level empirical analysis of the Japanese economy. His current research topics include (1) the effects of macroeconomic policy on behavior of households and firms, including the tax cuts implemented in the 1990s; (2) human capital markets (education and labor markets) and R&D as important determinants of long-term economic growth; and (3) efficient management of health care markets (medical care, long-term care and child care) under rapid aging and declining fertility. Professor Shimizutani holds a Ph.D. in economics and an M.A. in applied economics from the University of Michigan, and a B.A. in law from the University of Tokyo.
Major works:An Economic Analysis on the Elderly and Child Care in Japan: Micro-level Investigation with Policy Implication (in Japanese with H. Noguchi), Toko-Keizai Shimpo Sha, 2004; Expectations and Uncertainty in a Deflationary Economy - A Microeconomic Analysis of the Japanese Economy (in Japanese), Nihon Keizai Shimbun Sha, 2005.
Professor, Graduate School of Finance, Accounting and Law, Waseda University
Prior to her current position, Professor Suto served as Professor with the Faculty of Economics of Chuo University, Associate Professor with the Faculty of Economics at Meikai University, and Fellow at the Japan Securities Research Institute (JSRI). She was also Visiting Fellow at the Brookings Institution, Visiting Professor at Osaka University, and Visiting Scholar at Oxford University. She received her Ph.D. in economics from Keio University in 1987.
Major Works:"Behavioural Biases of Japanese Institutional Investors: Fund Management and Corporate Governance," Corpoarate Governance, vol. 13:4, 2005; "Capital Structure and Investment Behaviour of Malaysian Firms: A Study of Corporate Governance Before Crisis," Corporate Governance, vol. 11:1 2003; Amerikagata Kigyo Gabanannsuz (co-author), Tokyodaigaku Shuppankai, 2002; Asia no Kinyukiki to Shisutemu Kaikaku (co-author, in Japanese), Hoseidaigaku Shuppankai, 2000; Kinyubunseki no Saisentan (co-author, in Japanese),Toyokeizaishinposya, 2000.
Professor of Finance, Graduate School of International Accounting, Chuo University (CGSA)
Professor Suzuki teaches corporate finance courses at CGSA. He also serves as External Advisor for ALC Solutions Division of Mizuho Bank, and is Member of the editorial board of Security Analysts Journal. Prior to his current position, he worked at Fuji Bank (currently Mizuho Bank) in Japan. He received his MBA at INSEAD in France, and his Ph.D. in Finance from the University of London (London Business School).
Major Works:"Facing up to the Cost of Equity: Changing Behaviour of Japanese Companies" (Chapter 11), Finance and the International Economy: 6, Oxford University Press, 1992; MBA Game Theory, Diamond Inc., 1999; Valuation in Practice, Diamond Inc., 2004; "New Development in Hostile Takeover Market in Japan: A Case of TOB for Sotoh and Yushiro Chemical Industry," Security Analysts Journal, Security Analysts Association of Japan, October 2004.
Professor, Institute of Economic Research, Hitotsubashi University
Prior to his current post, which he assumed in 1984, Professor Teranishi served as Visiting Fellow at Yale University and Associate Professor and Lecturer at Hitotsubashi University's Institute of Economic Research. Since 2002, he has served as an advisor to the Bureau of Higher Education at the Ministry of Education and Science, to the Institute of Monetary and Economic Studies at the Bank of Japan (1999-2000), and to the Center for International Research on the Japanese Economy at the University of Tokyo (1997-present). He also serves as editor of various journals including Pacific Basin Finance Journal (1993-present). Professor Teranishi holds a Ph.D. in economics from Hitotsubashi University.
Major works:The Japanese Experience of Economic Reforms (edited with Y. Kosai), Macmillan, 1993.
Senior Fellow, RIETI
Prior to appointment to his current post at the Research Institute of Economy, Trade and Industry (RIETI), Dr. Tsuru was Research Economist at the Institute of Monetary and Economic Studies, Bank of Japan (2000-2001); Staff Economist, Economics Department, OECD, Paris (1995-2000); and Government Economist, Economic Planning Agency of Japan (1984-1995). His research includes Japan's corporate governance, financial system and banking behavior. He has received his D. Phil. in economics from University of Oxford (St. Antony's College).
Major Works:"Depositors' selection of banks and the deposit insurance system in Japan: Empirical evidence and its policy implications", RIETI Discussion Paper 03-E-024; "The choice of lending patterns by Japanese banks during the 1980s and 1990s: The causes and consequences of a real estate lending boom," BOJ/IMES, Discussion Paper, 2001; "Japanese corporate governance in transition," Seoul Journal of Economics, Vol.13, 2000.
Associate Professor, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
In 1991, Professor Wiwattanakantang joined the Head Office of Siam Commercial Bank, Thailand. She served as Visiting Associate Professor of Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University (2000-2003), and as Associate Professor, Institute of Economic Research, Hitotsubashi University (2003). Her specializations are Corporate Finance and Corporate Governance. She received her Ph.D. in economics from Hitotsubashi University in 2000.
Major Works: "Did Families Lose or Gain Control after the East Asian Financial Crisis? Evidence from Thailand" (Y. Wiwattanakantang, A. Khantavit, and P. Polsiri), Designing Financial Systems in East Asia and Japan: Toward a Twenty-First Century Paradigm (J. Fan and M. Hanazaki, and J. Teranishi, eds.), Routledge, 2003, pp. 247-272; "Banking in Japan: Will 'Too Big To Fail' Prevail?" (Y. Wiwattanakantang, A. van Rixtel, T. Souma, and K. Suzuki), Too-Big-Too-Fail: Policies and Practices in Government Bailouts (B. Gup ed.), 2004, pp. 253-284; "Connected Lending: Thailand before the Financial Crisis," (Y. Wiwattanakantang, R. Kali and C. Charumilind), Journal of Business, forthcoming.
Faculty Fellow, RIETI / Professor, Faculty of Economics, Hosei University
For most of his career, Professor Xu has taught at Hosei University's Department of Economics. Since 1999, he has also spent time at the University of North Carolina, Chapel Hill and Ohio State University, both as Visiting Researcher and Professor. He has served as Faculty Fellow at RIETI since 2003. His areas of expertise include corporate finance, corporate governance, and law and economics. Professor Xu holds a Ph.D. in economics from the University of Tokyo.
Major works:"Bankruptcy Resolution in Japan: Reorganization vs. Rehabilitation," RIETI Discussion Paper 2004/02, 2004; "Increasing Bankruptcies and the Legal Reform in Japan," Journal of Restructuring Finance, Vol.1, No.2, 417-434, 2004; "Executive salaries as prizes of tournaments, and executive bonuses as managerial incentives in Japan," Journal of the Japanese and International Economies 11, pp.319-346, 1997.
Senior Lecturer, School of Business Administration and Department of East Asian Studies, Hebrew University of Jerusalem, Israel / Research Fellow, CEPR, UK
Prior to current position, Dr. Yafeh served as Associate Professor, Department of Economics, University of Montreal (2002-2003); Alon Lecturer of Economics and East Asian Studies, Hebrew University (1995-2002); Visiting Lecturer of the Eitan Berglas School of Economics, Tel Aviv University (2002); and Visiting Fellow, St. Antony's College, University of Oxford; the Nissan Institute; and the Said Business School (2000-2001). He is also Research Fellow at the Centre for Economic Policy Research (CEPR) (2003-present), and Research Associate at the European Corporate Governance Institute (2004-present). Dr. Yafeh received his Ph.D. in economics from Harvard University in 1993.
Major Works:Emerging Markets and Financial Globalization: Sovereign Bond Spreads in 1870-1913 and Today (with Paolo Mauro and Nathan Sussman), Oxford University Press, forthcoming; "Business Groups and Risk Sharing around the World" (with Tarun Khanna), Journal of Business, Vol. 78, No. 1, pp. 301-340, January 2005; "Emerging Market Spreads: Then versus Now" (with Paolo Mauro and Nathan Sussman), Quarterly Journal of Economics, Vol. 117:2, pp. 695-733, May 2002; "On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan" (with David Weinstein), Journal of Finance, Vol. 53: 2, pp. 635-672, April 1998.
President and CRO, RIETI
Prior to his current post, Dr. Yoshitomi was Dean of the Asian Development Bank (ADB) Institute, Tokyo (1999-2003). He was also Visiting Executive Professor at the Wharton School, University of Pennsylvania (1993-98). Dr. Yoshitomi served as Director-General, Coordination Bureau at the Economic Planning Agency (EPA) (1991-92); Director-General, Economic Research Institute, EPA (1987-91); and Director, Economics and Statistics Department, OECD, Paris (1984-87). He also served as an economist at the IMF (Washington, D.C.) (1970-74). He holds a Ph.D. in economics from the University of Tokyo.
Major works: Reality of the Asian Economies -- Miracle, Crisis, and Evolution of Institutions --, 2003 (in Japanese); Post-Crisis Development Paradigms in Asia (co-authored with the staff of the ADB Institute), 2003; Reality of the Japanese Economy -- Beyond Conventional Views, 1998 (in Japanese).