AOKI Masahiko

The below information is as of March 31, 2004. It may differ from the current information.

AOKI Masahiko

AOKI Masahiko

President (until March 31, 2004)

Chief Research Officer
Senior Fellow, Stanford Institute of Economic Policy Research

Activities at RIETI


Comparative institutional analysis, corporate governance, the theory of the firm, the Japanese economy


1967, Ph.D., Economics, University of Minnesota, Dissertation: Increasing Returns to Scale and the Market Mechanism
1964, M.A., Economics, University of Tokyo
1962, B.A., Economics, University of Tokyo


London School of Economics, Distinguished Visitor, STICERD, 1997 (Fall).
Keio University, Visiting Professor, 1996 (Spring), 1997 (Spring).
University of Tokyo: Visiting Professor, 1994 (Fall).
Swedish Collegium for Advanced Studies in the Social Sciences: Fellow, 1987 (November) and 1988 (May).
Kyoto University: Associate Professor of Economics, 1969-77; Professor of Economics, 1977-1991.
Harvard University:
Assistant Professor of Economics, 1968-71; Fulbright Visiting Professor of Economics, 1979-80.
Stanford University:
Assistant Professor of Economics, 1967-68; Visiting Professor, 1982 (Fall), Henri and Tomoye Takahashi Professor of Japanese Studies in Economics, 1984-present.

Selected Publications and Papers

Representative Books
Towards a Comparative Institutional Analysis, MIT Press, 2001.

Translated into French, Spanish, Italian, Chinese, Japanese and Russian languages.
Information, Corporate Governance and Institutional Diversity, Toyo Keizai Shinposya, 1955, and
Oxford University Press, 2000.

Information, Incentives, and Bargaining in the Japanese Economy, Cambridge University Press, 1988.

The Co-operative Game Theory of the Firm, Oxford University Press, 1984.

Representative Edited Books
Communities and Markets in Economic Development (co-edited with Yujiro Hayami), Oxford University, forthcoming in 2000.

The Role of Government in East Asian Economic Development: Comparative Institutional Analysis, (co-edited with Hyung-ki Kim and Masahiro Okuno-Fujiwara), Oxford University Press, 1997.

Corporate Governance in Transitional Economies: Insider Control and Roles of Banks, World Bank, 1994.

The Japanese Main Bank System and its Relevancy for Developing and Transforming Economies, (co-edited with Hugh Patrick), Oxford University Press, 1994.

The Japanese Firm: Its Sources of Competitiveness, (co-authored with Ronald Dore), Oxford University Press, 1994.


1999 Walras-Pareto Lecture, University of Lausanne
1998 Schumpeter Prize (International Joseph A. Schumpeter Society)
1996 Honorary Visiting Professor, Peoples University of China
1995-96 President, Japanese Economic Association
1993 Foreign Member, Swedish Royal Academy of Engineering Sciences (Economics)
1990 Hiromi Arisawa Memorial Award (The Association of American University Presses)
1990 Japan Academy Prize
1981 Fellow, Econometric Society

In Memory of Former RIETI President Masahiko Aoki