RIETI Policy Symposium

Determinants of Total Factor Productivity and Japan's Potential Growth: An International Perspective


Faculty Fellow, RIETI / Professor, Institute of Economic Research, Hitotsubashi University

Professor Fukao teaches at Hitotsubashi University, and carries out research at RIETI as a Faculty Fellow. He has held teaching and research positions at numerous institutions including Bocconi University (Italy), the Institute for Monetary and Economic Studies of the Bank of Japan, Boston University, and Yale University. Professor Fukao obtained his M.A. in Economics from the University of Tokyo.

Major works: Tainichi chokusetsu toshi to Nihon keizai [Foreign direct investment and the Japanese economy], with Tomofumi Amano, Nikkei Shimbun-sha, Tokyo, 2004 (in Japanese).

FUWA Hisayoshi

Corporate Vice President, General Manager for Corporate Strategic Planning Division, and General Manager for i cube Project Office of Innovation Division, Toshiba Corporation

Mr. Fuwa is Corporate Vice President (June 2003-present), General Manager for the Corporate Strategic Planning Division (April 2003-present) and General Manager for the i cube Project Office Innovation Division (April 2006-present) at Toshiba Corporation, where he was previously Deputy General Manager of the Finance & Accounting Division (2002-'03), on loan as Senior Vice President of Toshiba America, Inc. (New York, 1999-2002), Senior Manager of Business Development in the Corporate Strategic Planning Division (1995-'99), and on loan as Financial Director of Toshiba Medical Systems Europe B.V. (Delft, the Netherlands), after joining the corporation in 1973.

INUI Tomohiko

Professor, Nihon University College of Economics

Before assuming his current post in 2003, Professor Inui served as Associate Professor of the Faculty of Economics at Nihon University (2000-'03). He served at the Development Bank of Japan (1985-2000), except for three years from 1993 when he was posted to the International Energy Agency (OECD) as Economist. Professor Inui's field of specialization is Japanese economy. He obtained his B.A. in Economics from Hitotsubashi University in 1985, and his M.A. in Economics from the Johns Hopkins University in 1990.

Major works: Globalization of Japanese Economy (in Japanese, coauthored with A. Shinozaki and H. Nosaka), Toyo Keizai Inc., 1998; "Sectoral Productivity and Economic Growth in Japan, 1970-98: An Empirical Analysis Based on the JIP Database" (coauthored with K. Fukao, H. Kawai and T. Miyagawa) in Takatoshi Ito and Andrew K. Rose (Eds.), Productivity, NBER-EASE Volume 13, University of Chicago Press, 2004.


Samuel W. Morris University Professor, Department of Economics, Harvard University

Dr. Jorgenson is the Samuel W. Morris University Professor at Harvard University. He received a B.A. in Economics from Reed College in Portland, Oregon (1955) and a Ph.D. in Economics from Harvard (1959). After teaching at the University of California, Berkeley, he joined the Harvard faculty in 1969 and was appointed the Frederic Eaton Abbe Professor of Economics in 1980. He served as Chairman of the Department of Economics (1994-'97). Dr. Jorgenson has conducted groundbreaking research on information technology and economic growth, energy and the environment, tax policy and investment behavior, and applied econometrics.

Major works: Information Technology and the American Growth Resurgence, co-authored with Mun Ho and Kevin Stiroh, The MIT Press, 2005; Lifting the Burden: Tax Reform, the Cost of Capital, and U.S. Economic Growth, co-authored with Kun-Young Yun, The MIT Press, 2001.


Former Faculty Fellow, RIETI / Professor, Faculty of Economics, Gakushuin University

While serving as a Professor in the Faculty of Economics at Gakushuin University since 1999, Professor Miyagawa has also been a Visiting Professor (2001-'03) and Visiting Lecturer (2000) at the Economic Research Institute at Hitotsubashi University. He has also served as Director of the Nagoya Branch at the Development Bank of Japan (formerly Japan Development Bank [JDB]) (1997-'99), Associate Professor of the Economic Research Institute at Hitotsubashi University (1995-'97), Senior Economist at the JDB (1989-'97), Fellow at Yale University (1988-'89) and Harvard University (1987-'88), and Economist at the Economic Planning Agency (1982-'84) after joining the JDB in 1978. His expertise is in macroeconomics, Japanese economics and Asian economic trends. Dr. Miyagawa obtained his B.A. in Economics from the University of Tokyo in 1978.

Major works: "Sectoral Productivity and Economic Growth in Japan: 1970-98: An Empirical Analysis Based on the JIP Database" co-authored with Kyoji Fukao, Tomohiko Inui and Hiroki Kawai, Productivity and Growth, East Asia Seminar on Economics, Volume 13, co-edited by Takatoshi Ito and Andrew Rose, The University of Chicago Press, 2004.


Director, Industrial Structure Policy Division, Economic and Industrial Policy Bureau, METI

Before assuming his current position in 2005, Mr. Morikawa served in various positions at METI (formerly MITI), such as Director of Macroeconomic Affairs Division of the Economic and Industrial Policy Bureau (2003-'05), Director of Policy Planning Office of the Minister's Secretariat (2002-'03), Director of Research Office at the Small and Medium Enterprise Agency (1998-'99) at METI and Senior Research Fellow at the Research Institute of MITI (1994-'95), since he joined MITI in 1982. He graduated from the University of Tokyo with a B.A. in Interdisciplinary Social Science (1982).


Faculty Fellow, RIETI / Professor, Department of Technology Management for Innovation, The University of Tokyo

After joining the Ministry of International Trade and Industry (MITI) (presently METI), Professor Motohashi served as Head of Public Affairs Office, Trade Policy Bureau at METI (1999-2000), Deputy Director of Planning Division, SME Agency (1998-'99), and Economist of Directorate for the Science, Technology and Industry at OECD (1995-'98). Professor Motohashi received his Ph.D. in Business and Commerce from Keio University. He has several publications on innovation research in books and academic journals, including Research Policy, Economics of Innovation and New Technology and Journal of Japanese and International Economies.


Research Counselor, RIETI / Director and Professor, Institute of Innovation Research, Hitotsubashi University

Professor Nagaoka has been Director (since April 2004) and Professor (since 1997) at the Institute of Innovation Research at Hitotsubashi University. Formerly he served as Professor in the Institute of Business Research at Hitotsubashi University (1996-'97), Professor in the Faculty of Economics at Seikei University (1992-'96) and Director of the Office for Russia and Eastern Europe at MITI (presently METI)(1990-'92). He obtained his Ph.D. in Economics in 1990 and M.S. in Management in 1980, both from the Massachusetts Institute of Technology (MIT) and his B.E. in Engineering from the University of Tokyo in 1975. His fields of specialization are innovation and industrial organization.

Major works: "Assessing the R&D Management of Firms by Patent Citation: Evidence from the US Patents," 2006, forthcoming in the Journal of Economics and Management Strategy; "The incidence of cross-licensing: A theory and new evidence on the firm and contract level determinants " 2006, (with Hyeog Ug Kwon) forthcoming in Research Policy.


Chairman, RIETI

Prior to his current position, Mr. Oikawa served as Senior Executive Director, Development Bank of Japan (2003-'05); Advisor, Nomura Research Institute, Ltd. (2002-'03); Research Counselor, TEPIA (2002-'03); Commissioner, Japan Patent Office; Director-General, Bureau of Equipment, Japan Defense Agency; Director-General for Policy Coordination, Minister's Secretariat; Councilor, Cabinet Secretariat; Deputy Director-General for Security Export Control, International Trade Administration Bureau; Director, Coordination Division, Bureau of Equipment, Japan Defense Agency; Director, Small Enterprise Policy Division, Small and Medium Enterprise Agency; Counselor, Japanese Mission to European Community, Ministry of Foreign Affairs; Director, Paper, Pulp & Printing Division, Consumer Goods Industries Bureau. Mr. Oikawa graduated from the University of Tokyo with a B.A. in Economics.

Marcel P. TIMMER

Assistant Professor, Department of Economics, University of Groningen

Dr. Marcel Timmer is Assistant Professor at the University of Groningen. He obtained his Ph.D. from the Eindhoven University of Technology for his study of "The Dynamics of Asian Manufacturing". Since 1999 he has served in the Faculty of Economics at Groningen University, where he primarily teaches development economics. Dr. Timmer's current research interests include the study of economic growth, technology and structural change, international comparisons of prices and productivity, and the role of technology transfers and diffusion in catch-up, with a special emphasis on Asia and Europe. He is member of the daily management team of the EUKLEMS project. This project aims to create a database on measures of economic and productivity growth at the industry level for all European Union member states from 1970 onward with participation of 15 organizations from across the EU.


Research Counselor, RIETI / Professor, Faculty of Economics, The University of Tokyo

Dr. Yoshikawa has taught in the Faculty of Economics, the University of Tokyo as Professor (1993-present) and as Associate Professor (1988-'93), at the Institute of Social and Economic Research, Osaka University as Associate Professor (1982-'88), after starting his career at the State University of New York, Albany, as Assistant Professor (1978-'82). He is also a Member of the Council on Economic and Fiscal Policy at the Cabinet Office, Japan (2001-present) and was a Visiting Scholar at the Department of Economics, University of Sienna (1995) and Nissan Fellow at St. Antony's College, Oxford (1991). He obtained his B.A. from the University of Tokyo in 1974 and his Ph.D. from Yale University in 1978.

Major works: Reconstructing Macroeconomics (with Masanao Aoki), New York: Cambridge University Press, 2006; Macroeconomics and the Japanese Economy, Oxford: Oxford University Press, 1995; "Demand Creation/Saturation and Economic Growth" (with M. Aoki), Journal of Economic Behavior and Organization, p.127-154, 48(2), 2002.


President and Chief Research Officer, 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 of the 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).