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In this book Takeo Hoshi and Anil Kashyap examine the history of the Japanese financial system, from its nineteenth-century beginnings through the collapse of the 1990s that concluded with sweeping reforms. Combining financial theory with new data and original case studies, they show why the Japanese financial system developed as it did and how its history affects its ongoing evolution.

The authors describe four major periods within Japan's financial history and speculate on the fifth, into which Japan is now moving. Throughout, they focus on four questions: How do households hold their savings? How is business financing provided? What range of services do banks provide? And what is the nature and extent of bank involvement in the management of firms? The answers provide a framework for analyzing the history of the past 150 years, as well as implications of the just-completed reforms known as the "Japanese Big Bang."

Hoshi and Kashyap show that the largely successful era of bank dominance in postwar Japan is over, largely because deregulation has exposed the banks to competition from capital markets and foreign competitors. The banks are destined to shrink as households change their savings patterns and their customers continue to migrate to new funding sources. Securities markets are set to re-emerge as central to corporate finance and governance.


"This book is a fascinating analysis of the past, present, and future of the Japanese financial system. It sheds a great deal of light on Japan's current troubles and their potential solution." 

-Ben S. Bernanke, Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs, Princeton University

 

"Hoshi and Kashyap crystallize much of their high-quality research in this book. Corporate Financing and Government in Japan tells of the rise and fall of banking dominance over Japanese corporations with historical accounts, economic theory, and summaries of empirical analysis. The book will be an authoritative read for a wide-ranging audience, including college students, MBA students, and scholars in the field." 

-Takatoshi Ito, Professor, Hitotsubashi University

 

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The MIT Press
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Takeo Hoshi
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How was it that Afghanistan, a country that was often conquered and ruled by outsiders before 1800, became seemingly impossible to conquer and rule in the 19th and 20th centuries? An historical examination of Afghan history reveals that premodern Central Asian rulers looked upon war and conquest as the business of displacing rival elites, a process having little or nothing to do with the inhabitants of the territory. During the 19th century, this pattern began to change in Afghanistan where governments found themselves dependent on raising tribal armies to repel foreign invaders, such as the British, at the cost of sharing power with them in the postwar period. This pattern continued into the 20th century when during each period of state collapse drew an ever-wider part of the population into the political struggle for power. The Soviet invasion drew the widest possible opposition but upon their withdrawal no faction was able to create a stable government. Afghanistan fell into ten years of civil war that opened it up to extreme movements such the Taliban and its exploitation by outsiders such as Osama bin Laden. Since war alone has now proved incapable of solving Afghanistan's problems the current conflict in Afghanistan can only be won by a wider policy that makes Afghanistan's economic and political reconstruction a priority in a way that can end its cycle of anarchy.

Philippines Conference Room, Encina Hall, Third Floor, Central Wing

Thomas Barfield Chairman Speaker Anthropolgy Department, Boston University
Seminars
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The recent decades have witnessed the rise of new scholarship in Korea, which tries to "rewrite" the modern Korean history between the late 1940s and the early 1950s. It seeks to challenge and overcome the so-called "revisionist" approaches to the modern Korean history, but it is definitely far from endorsing or returning to the previous "traditional" viewpoints. Claiming itself to be a "third wave" in the study of modern Korean history, this presentation re-examines the postwar U.S.-Korean policy in general, discusses the American governing of South Korea from practical points of view, and puts forth the social history of the modern Korea under the U.S. occupation and during the Korean war.

Encina Hall, Central Wing, third floor, Philippines Conference Room

Sang-In Jun Professor Speaker Hallym University, Korea
Seminars
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Reuben W. Hills Conference Room, East 207, Encina Hall

CISAC
Stanford University
Encina Hall, E214
Stanford, CA 94305-6165

(650) 723-1737 (650) 723-0089
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Senior Fellow Emeritus at the Freeman Spogli Institute of International Studies
Raymond A. Spruance Professor of International History
0820stanford-davidholloway-238-edit.jpg PhD

David Holloway is the Raymond A. Spruance Professor of International History, a professor of political science, and an FSI senior fellow. He was co-director of CISAC from 1991 to 1997, and director of FSI from 1998 to 2003. His research focuses on the international history of nuclear weapons, on science and technology in the Soviet Union, and on the relationship between international history and international relations theory. His book Stalin and the Bomb: The Soviet Union and Atomic Energy, 1939-1956 (Yale University Press, 1994) was chosen by the New York Times Book Review as one of the 11 best books of 1994, and it won the Vucinich and Shulman prizes of the American Association for the Advancement of Slavic Studies. It has been translated into seven languages, most recently into Chinese. The Chinese translation is due to be published later in 2018. Holloway also wrote The Soviet Union and the Arms Race (1983) and co-authored The Reagan Strategic Defense Initiative: Technical, Political and Arms Control Assessment (1984). He has contributed to the Bulletin of the Atomic Scientists, Foreign Affairs, and other scholarly journals.

Since joining the Stanford faculty in 1986 -- first as a professor of political science and later (in 1996) as a professor of history as well -- Holloway has served as chair and co-chair of the International Relations Program (1989-1991), and as associate dean in the School of Humanities and Sciences (1997-1998). Before coming to Stanford, he taught at the University of Lancaster (1967-1970) and the University of Edinburgh (1970-1986). Born in Dublin, Ireland, he received his undergraduate degree in modern languages and literature, and his PhD in social and political sciences, both from Cambridge University.

Faculty member at the Center for International Security and Cooperation
Affiliated faculty at the Center on Democracy, Development, and the Rule of Law
Affiliated faculty at The Europe Center
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David J. Holloway Raymond A. Spruance Professor in International History IIS
Seminars
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While Islam is commonly portrayed as a Middle Eastern religion, the majority of the world's Muslims reside in Asia. Indonesia is home to the world's largest Muslim population, with India following close behind. Millions of Muslims are scattered throughout South, Southeast, Central and Northeast Asia. In the wake of the horrific terrorists attacks on September 11th, many non-Muslims have mistakenly identified Islam with political violence. The need to distinguish moderate Islam practiced by the Muslim majority in Asia and the radical extremism used by terrorists has never been greater. In an effort to create a more comprehensive understanding of these complex issues and address misconceptions linking Islam and terrorism, the Asia Society and the Shorenstein Forum will convene a panel of experts to explore Muslim thought and practice in several key Asian countries, namely Pakistan, Indonesia, Malaysia and China. Among the questions that will be addressed by the panel is how recent events will impact the future of Islam in Asia and what role extremist and other groups may play in this process.

A.P. Giannini Auditorium, Bank of America Building

Barbara Metcalf Professor of History Panelist University of California at Davis
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Senior Fellow Emeritus at the Freeman Spogli Institute for International Studies
Affiliated Faculty, CDDRL
Affiliated Scholar, Abbasi Program in Islamic Studies
aparc_dke.jpg PhD

At Stanford, in addition to his work for the Southeast Asia Program and his affiliations with CDDRL and the Abbasi Program in Islamic Studies, Donald Emmerson has taught courses on Southeast Asia in East Asian Studies, International Policy Studies, and Political Science. He is active as an analyst of current policy issues involving Asia. In 2010 the National Bureau of Asian Research and the Woodrow Wilson International Center for Scholars awarded him a two-year Research Associateship given to “top scholars from across the United States” who “have successfully bridged the gap between the academy and policy.”

Emmerson’s research interests include Southeast Asia-China-US relations, the South China Sea, and the future of ASEAN. His publications, authored or edited, span more than a dozen books and monographs and some 200 articles, chapters, and shorter pieces.  Recent writings include The Deer and the Dragon: Southeast Asia and China in the 21st Century (ed., 2020); “‘No Sole Control’ in the South China Sea,” in Asia Policy  (2019); ASEAN @ 50, Southeast Asia @ Risk: What Should Be Done? (ed., 2018); “Singapore and Goliath?,” in Journal of Democracy (2018); “Mapping ASEAN’s Futures,” in Contemporary Southeast Asia (2017); and “ASEAN Between China and America: Is It Time to Try Horsing the Cow?,” in Trans-Regional and –National Studies of Southeast Asia (2017).

Earlier work includes “Sunnylands or Rancho Mirage? ASEAN and the South China Sea,” in YaleGlobal (2016); “The Spectrum of Comparisons: A Discussion,” in Pacific Affairs (2014); “Facts, Minds, and Formats: Scholarship and Political Change in Indonesia” in Indonesian Studies: The State of the Field (2013); “Is Indonesia Rising? It Depends” in Indonesia Rising (2012); “Southeast Asia: Minding the Gap between Democracy and Governance,” in Journal of Democracy (April 2012); “The Problem and Promise of Focality in World Affairs,” in Strategic Review (August 2011); An American Place at an Asian Table? Regionalism and Its Reasons (2011); Asian Regionalism and US Policy: The Case for Creative Adaptation (2010); “The Useful Diversity of ‘Islamism’” and “Islamism: Pros, Cons, and Contexts” in Islamism: Conflicting Perspectives on Political Islam (2009); “Crisis and Consensus: America and ASEAN in a New Global Context” in Refreshing U.S.-Thai Relations (2009); and Hard Choices: Security, Democracy, and Regionalism in Southeast Asia (edited, 2008).

Prior to moving to Stanford in 1999, Emmerson was a professor of political science at the University of Wisconsin-Madison, where he won a campus-wide teaching award. That same year he helped monitor voting in Indonesia and East Timor for the National Democratic Institute and the Carter Center. In the course of his career, he has taken part in numerous policy-related working groups focused on topics related to Southeast Asia; has testified before House and Senate committees on Asian affairs; and been a regular at gatherings such as the Asia Pacific Roundtable (Kuala Lumpur), the Bali Democracy Forum (Nusa Dua), and the Shangri-La Dialogue (Singapore). Places where he has held various visiting fellowships, including the Institute for Advanced Study and the Woodrow Wilson International Center for Scholars. 



Emmerson has a Ph.D. in political science from Yale and a BA in international affairs from Princeton. He is fluent in Indonesian, was fluent in French, and has lectured and written in both languages. He has lesser competence in Dutch, Javanese, and Russian. A former slam poet in English, he enjoys the spoken word and reads occasionally under a nom de plume with the Not Yet Dead Poets Society in Redwood City, CA. He and his wife Carolyn met in high school in Lebanon. They have two children. He was born in Tokyo, the son of U.S. Foreign Service Officer John K. Emmerson, who wrote the Japanese Thread among other books.

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Donald K. Emmerson Professor Panelist Asia/Pacific Research Center, Stanford University
Karim Raslan Attorney and syndicated columnist Panelist Kuala Lumpur, Malaysia
Jacqueline Armijo-Hussein Mellon Fellow Panelist Department of Religious Studies, Stanford University
Barbara Crossette Correspondent and former Bureau Chief Moderator New York Times
Workshops
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Anand Patwardhan's latest film, a work in progress (180 min.), shot in India, Pakistan, and Japan The director will be present for discussion after the screening. Starting with the outbreak of jingoism that marked the 1998 series of nuclear tests by India and Pakistan, Patwardhan creates a road movie that vivifies the human and historical realities of this new leap in the world's nuclearization. We visit test sites with politicians, watch urban sound-and-light spectacles glorifying the military, hear the stories of suffering villagers near the test site, travel with peace marchers who confront furious pro-bomb crowds, join a conference of Indian and Pakistani peace activists, and go to Japan to hear testimony from survivors of the Hiroshima and Nagasaki nuclear attacks. In the style that has distinguished his earlier films, Patwardhan brilliantly captures individual voices, gestures, facial expressions, and public dramas that simultaneously reveal intimate human experience and the sweep of history. India's most controversial and renowned documentary producer, Patwardhan has won numerous Indian and international prizes during his career as a filmmaker, which spans more than a quarter of a century. While his films cover a wide variety of subjects, regions, and social groups, his central interests have been human rights, communalism, and violence. For information, see . Further questions? Contact , , or 650-725-9732.

Cubberley Auditorium, Department of Education

Seminars
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In the wake of the horrific terrorist attacks of September 11th, and the subsequent response by the United States, millions of Muslims across Asia face a new political landscape and changes to daily life. As the conflict in Afghanistan drags on, Muslims in Asia are being put in a more difficult position, and uncertainty about the the future abounds. A panel of distinguished scholars on Islam in Asia will help to explore this complex situation.

Philippines Conference Room, Third Floor, Central Wing, Encina Hall

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Senior Fellow Emeritus at the Freeman Spogli Institute for International Studies
Affiliated Faculty, CDDRL
Affiliated Scholar, Abbasi Program in Islamic Studies
aparc_dke.jpg PhD

At Stanford, in addition to his work for the Southeast Asia Program and his affiliations with CDDRL and the Abbasi Program in Islamic Studies, Donald Emmerson has taught courses on Southeast Asia in East Asian Studies, International Policy Studies, and Political Science. He is active as an analyst of current policy issues involving Asia. In 2010 the National Bureau of Asian Research and the Woodrow Wilson International Center for Scholars awarded him a two-year Research Associateship given to “top scholars from across the United States” who “have successfully bridged the gap between the academy and policy.”

Emmerson’s research interests include Southeast Asia-China-US relations, the South China Sea, and the future of ASEAN. His publications, authored or edited, span more than a dozen books and monographs and some 200 articles, chapters, and shorter pieces.  Recent writings include The Deer and the Dragon: Southeast Asia and China in the 21st Century (ed., 2020); “‘No Sole Control’ in the South China Sea,” in Asia Policy  (2019); ASEAN @ 50, Southeast Asia @ Risk: What Should Be Done? (ed., 2018); “Singapore and Goliath?,” in Journal of Democracy (2018); “Mapping ASEAN’s Futures,” in Contemporary Southeast Asia (2017); and “ASEAN Between China and America: Is It Time to Try Horsing the Cow?,” in Trans-Regional and –National Studies of Southeast Asia (2017).

Earlier work includes “Sunnylands or Rancho Mirage? ASEAN and the South China Sea,” in YaleGlobal (2016); “The Spectrum of Comparisons: A Discussion,” in Pacific Affairs (2014); “Facts, Minds, and Formats: Scholarship and Political Change in Indonesia” in Indonesian Studies: The State of the Field (2013); “Is Indonesia Rising? It Depends” in Indonesia Rising (2012); “Southeast Asia: Minding the Gap between Democracy and Governance,” in Journal of Democracy (April 2012); “The Problem and Promise of Focality in World Affairs,” in Strategic Review (August 2011); An American Place at an Asian Table? Regionalism and Its Reasons (2011); Asian Regionalism and US Policy: The Case for Creative Adaptation (2010); “The Useful Diversity of ‘Islamism’” and “Islamism: Pros, Cons, and Contexts” in Islamism: Conflicting Perspectives on Political Islam (2009); “Crisis and Consensus: America and ASEAN in a New Global Context” in Refreshing U.S.-Thai Relations (2009); and Hard Choices: Security, Democracy, and Regionalism in Southeast Asia (edited, 2008).

Prior to moving to Stanford in 1999, Emmerson was a professor of political science at the University of Wisconsin-Madison, where he won a campus-wide teaching award. That same year he helped monitor voting in Indonesia and East Timor for the National Democratic Institute and the Carter Center. In the course of his career, he has taken part in numerous policy-related working groups focused on topics related to Southeast Asia; has testified before House and Senate committees on Asian affairs; and been a regular at gatherings such as the Asia Pacific Roundtable (Kuala Lumpur), the Bali Democracy Forum (Nusa Dua), and the Shangri-La Dialogue (Singapore). Places where he has held various visiting fellowships, including the Institute for Advanced Study and the Woodrow Wilson International Center for Scholars. 



Emmerson has a Ph.D. in political science from Yale and a BA in international affairs from Princeton. He is fluent in Indonesian, was fluent in French, and has lectured and written in both languages. He has lesser competence in Dutch, Javanese, and Russian. A former slam poet in English, he enjoys the spoken word and reads occasionally under a nom de plume with the Not Yet Dead Poets Society in Redwood City, CA. He and his wife Carolyn met in high school in Lebanon. They have two children. He was born in Tokyo, the son of U.S. Foreign Service Officer John K. Emmerson, who wrote the Japanese Thread among other books.

Selected Multimedia

Date Label
Donald K. Emmerson Professor Panelist A/PARC

No longer in residence.

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R_Dossani_headshot.jpg PhD

Rafiq Dossani was a senior research scholar at Stanford University's Shorenstein Asia-Pacific Research Center (Shorenstein APARC) and erstwhile director of the Stanford Center for South Asia. His research interests include South Asian security, government, higher education, technology, and business.  

Dossani’s most recent book is Knowledge Perspectives of New Product Development, co-edited with D. Assimakopoulos and E. Carayannis, published in 2011 by Springer. His earlier books include Does South Asia Exist?, published in 2010 by Shorenstein APARC; India Arriving, published in 2007 by AMACOM Books/American Management Association (reprinted in India in 2008 by McGraw-Hill, and in China in 2009 by Oriental Publishing House); Prospects for Peace in South Asia, co-edited with Henry Rowen, published in 2005 by Stanford University Press; and Telecommunications Reform in India, published in 2002 by Greenwood Press. One book is under preparation: Higher Education in the BRIC Countries, co-authored with Martin Carnoy and others, to be published in 2012.

Dossani currently chairs FOCUS USA, a non-profit organization that supports emergency relief in the developing world. Between 2004 and 2010, he was a trustee of Hidden Villa, a non-profit educational organization in the Bay Area. He also serves on the board of the Industry Studies Association, and is chair of the Industry Studies Association Annual Conference for 2010–12.

Earlier, Dossani worked for the Robert Fleming Investment Banking group, first as CEO of its India operations and later as head of its San Francisco operations. He also previously served as the chairman and CEO of a stockbroking firm on the OTCEI stock exchange in India, as the deputy editor of Business India Weekly, and as a professor of finance at Pennsylvania State University.

Dossani holds a BA in economics from St. Stephen's College, New Delhi, India; an MBA from the Indian Institute of Management, Calcutta, India; and a PhD in finance from Northwestern University.

Senior Research Scholar
Executive Director, South Asia Initiative
Rafiq Dossani Academic Staff Panelist A/PARC
Armin Rosencranz Consulting Professor Panelist Anthropoligical Sciences/Human Biology
Ahmad Dallal Associate Professor Panelist Middle Eastern History
Conferences
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The terrorist attacks on September 11 threw Afghanistan back into the international spotlight. This time, the events impacted not only Afghanistan's relationship with the United States and Russia, but also its relations with Pakistan. Dr. Amin Tarzi will work to put this change in relations between Afghanistan, her neighbors, the United States, and Russia into a perspective that will allow for a discussion on the current situation in the region and the future geopolitical role of Afghanistan. Amin Tarzi is a U.S. national of Afghan origins. His academic and professional expertise is in the history and politics of the Middle East and Central Asia, with a particular focus on the Arab states of the Persian Gulf, as well as Iran and Afghanistan. Dr. Tarzi has written extensively on topics related to the proliferation and politics of weapons of mass destruction and their delivery systems, the politics of oil, the United States vis a vis the Arab world, and current affairs in Egypt, Iraq, Iran, and Afghanistan -- including the Taliban and U.S. involvement in Afghanistan.

Daniel and Nancy Okimoto Conference Room

Dr. Amin Tarzi Senior Research Associate for the Middle East Speaker Center for Nonproliferation Studies, Monterey Institute for International Affairs
Seminars
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This curriculum unit offers students the opportunity to consider civil rights issues in the context of the Japanese-American experience during World War II. Lessons focus on the immigration years, the role of the media, diverse perspectives on the internment years, Japanese Americans and the military during World War II, and legacies of internment.

Shorenstein APARC is delighted to announce the presentation of the first annual Shorenstein Journalism Award, a prize awarded jointly by Harvard and Stanford.

The Award goes to Pulitzer Prize-winning author Stanley Karnow, and the program begins at 7:30PM, January 17th, 2002, in McCaw Hall, Arrillaga Alumni Center, 356 Galvez Street, Stanford University. The program is free and open to the public. It will open with music and a light buffet reception, followed by a formal presentation of Mr. Karnow and a review of his contributions. Mr. Karnow will then deliver an address featuring personal reflections on the state of his craft, and on fifty years of change and continuity in Asia. He will also take questions from the audience.

At 10:00AM, January 18th, 2002, in the Asia-Pacific Scholars Room on the third floor of Encina Hall, there will be a seminar discussion of Mr. Karnow's remarks. The discussants will include members of the Award Jury (Jim Thompson of the Neimann Foundation, David Greenway of the Boston Globe, and Donald K. Emmerson of Shorenstein APARC). Mr. Karnow will be therespondent.

Mr. Karnow has been hailed by Newsweek as "perhaps the best journalist writing on Asian affairs." Among his assignments, he traveled with Presidents Eisenhower and Johnson, and accompanied President Nixon to China in 1972. He was in Vietnam in 1959 when the first Americans were killed, and covered the war to its conclusion. In 1990, he was awarded the Pulitzer Prize for "In Our Image," a history of America's dealings with the Philippines. His other prizes include six Emmys, three Overseas Press Club awards, and Dupont, Peabody, and Polk awards for his role as chief correspondent to PBS.

The Shorenstein Award, which carries a cash prize of $10,000, honors a journalist not only for a distinguished body of work, but also for the particular way it has helped an American audience understand the complexities of Asia. It is presented jointly by the Shorenstein Forum at Stanford, and the Shorenstein Center on the Press, Politics, and Public Policy at Harvard University.

McCaw Hall
Arrillaga Alumni Center

A/P Scholars Room
Third Floor, Encina Hall
Stanford University

Stanley Karnow Speaker
Conferences
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