About the talk

Kicking off SPRIE's seminar series on the emerging environment for entrepreneurship in Japan, this presentation will focus on the changing pattern of venture capital (VC) investments there. Michael Korver will address issues related to venture capital, entrepreneurship and innovation in Japan in the context of the experiences of Global Venture Capital and its partners during the last twelve years.

Recently, Japan has seen a rapid evolution of financing for new firms, including rapid changes to its VC industry. Mr. Korver's firm is in the vanguard of that evolution. He will discuss aspects of Japanese VC companies from their earliest inception to the latest trends--from bank subsidiaries to independent funds--and he will share his observations about entrepreneurial startups in Japan.

About the speaker

Michael Korver is a co-founding partner of Global Venture Capital (GVC). He was born and raised in Tokyo and first developed his insider's perspective on Asian business from his experience as an analyst at the Nomura Research Institute in Tokyo from 1983 until 1986, and as an international transactions lawyer with Richards & O'Neil in New York and Tokyo from 1987 until 1993.

Since 1993 Korver has worked as an international business consultant, corporate lawyer, venture capitalist and entrepreneur in Tokyo. He has founded or co-founded several companies and has served on the boards of a number of them. From 1999 until 2002 he was in charge of legal and business affairs at The News Corporation Limited Japan, the Japanese operations of the international media conglomerate. Korver currently serves as professor in the MBA program at the Graduate School of International Corporate Strategy of Hitotsubashi University where he teaches courses in entrepreneurship and venture capital.

Korver received the BA, the MA in Economics and the JD all from the University of California at Berkeley. He is licensed to practice law in the States of New York and California.

Edward Miguel received his PhD at Harvard in 2000, the same year he joined UC Berkeley as an assistant professor. He was promoted to associate professor in 2005. He recently received the Kenneth J. Arrow Award for Best Paper in Health Economics for "Worms: Identifying Impacts on Education and Health in the Presence of Treatment Externalities" (with Michael Kremer), which appeared in Econometrica. He also was the recipient of the 2005 Sloan Fellowship. At Berkeley he has received the Best Graduate Adviser Award and the Distinguished Teaching Award.

Professor Miguel is co-editor of the Journal of Human Resources, associate editor of the Journal of Development Economics and Review of Economics and Statistics, director of the U.C. Berkeley Scientific Evaluation for Global Action program, co-organizer for Working Group in African Political Economy, associate director at CIDER, an NBER faculty research associate, a CEPR research fellow, a senior fellow at the Bureau for Research and Economic Analysis of Development, and a research affiliate at the MIT Poverty Action Lab. He also has worked as a consultant for non-governmental organizations on projects in Delhi, Kenya, Tanzania, and Sierra Leone.

Abstract
We will present our observations from a visit to India’s nuclear facilities and several think tanks during March 2008. We will comment on India’s nuclear research programs, nuclear energy development, and the implications for the proposed U.S.-India nuclear deal and for scientific collaboration between our countries. We visited the Indira Gandhi Center for Atomic Research (IGCAR) in Kalpakkam, the Bhabha Atomic Research Center (BARC) in Trombay, had detailed discussions with the top leadership of the India Department of Atomic Energy (DAE), and also visited several institutes in Bangalore and Chennai to discuss nuclear energy and nuclear nonproliferation.

Chaim Braun is a vice president of Altos Management Partners, Inc., and a CISAC science fellow and affiliate. He is a member of the Near-Term Deployment and the Economic Cross-Cut Working Groups of the Department of Energy (DOE) Generation IV Roadmap study. He conducted several nuclear economics-related studies for the DOE Nuclear Energy Office, the Energy Information Administration, the Electric Power Research Institute, the Nuclear Energy Institute, Non-Proliferation Trust International, and others. Braun has worked as a member of Bechtel Power Corporation's Nuclear Management Group, and led studies on power plant performance and economics used to support maintenance services. Braun has worked on a study of safeguarding the Agreed Framework in North Korea, he was the co-leader of a NATO Study of Terrorist Threats to Nuclear Power Plants, led CISAC's Summer Study on Terrorist Threats to Research Reactors, and most recently co-authored an article with former CISAC Co-Director Chris Chyba on nuclear proliferation rings.

Siegfried Hecker is a professor (research) in the Department of Management Science and Engineering, a senior fellow at FSI, and co-director of CISAC. He is also an emeritus director of Los Alamos National Laboratory. Hecker's research interests include plutonium science, nuclear weapon policy and international security, nuclear security (including nonproliferation and counter terrorism), and cooperative nuclear threat reduction. Over the past 15 years, he has fostered cooperation with the Russian nuclear laboratories to secure and safeguard the vast stockpile of ex-Soviet fissile materials. His current interests include the challenges of nuclear India, Pakistan, North Korea, and the nuclear aspirations of Iran. Hecker works closely with the Russian Academy of Sciences and is actively involved with the U.S. National Academies, serving on the National Academy of Engineering Council and its International Programs Committee, as chair of the Committee on Counterterrorism Challenges for Russia and the United States, and as a member of the National Academies Committee on International Security and Arms Control Nonproliferation Panel.

"Sunshine" policy, named after one of Aesop's fables, has been the catch phrase of South Korea's appeasement policy toward North Korea to stimulate and restructure the already collapsed North Korean economy and eventually to convert North Korea to a more conciliatory and cooperative state.

After 10 years of shining the sunlight on North Korea, however, evidences that those self-imposed goals have been achieved are rather scarce. This suggests that, from the beginning, the basic premises of Sunshine policy must have been fatally incongruous with the reality: North Korea should not have been portrayed as an innocent traveler leisurely walking down the street. Or, perhaps, the policy toward North Korea should have pursued more serious goals than just stripping a man of his coat.

In this talk, Dr. Park proposes an alternative to the "Sunshine vs North Wind", and discusses the policy implications of his proposal.

For the past 14 years, Dr. Jongkyu Park has worked on various macroeconomic policy issues of Korean economy including economic forecasts, monetary policy, inflation, budget deficit, exchange rate, savings rate, population aging, real estate bubble, and Japan's economic slowdown and revival. He received B.A. in Economics from Seoul National University in Korea, M.S. in Statistics from University of North Carolina at Chapel Hill, and Ph.D. in Economics from Princeton University.

Major economic reforms are often politically difficult.  They may cause pain to voters and provoke unrest.  They may be opposed by politicians whose time horizons are shortened by electoral cycles.  They may collide with the established ideology and long-standing practices of an entrenched ruling party.  They may be resisted by bureaucrats who fear change, and by vested interests with stakes in the status quo.  Obstacles to major economic reform can be daunting in democratic and autocratic polities alike. 

And yet, somehow, past leaders of today's Asian dragons did manage to get away with critical and creative economic reforms.  Sly political foxes nudged their countries onto high-growth paths toward global renown as economic dragons.  What lessons can be learned from their experiences?  Are tactics that worked in authoritarian systems applicable to democratic ones, and vice versa?  Can one identify a set of stratagems that would amount to an equivalent, for economic reformers, of the advice Machiavelli gave political princes? 

Arroyo will recount the crafty political maneuvers used by leaders of economic reform in Asia during these pivotal eras:  China under Deng Xiaoping; India in the 1990s; Thailand under General Prem Tinsulanonda; Vietnam's Doi Moi; South Korea under Park Chung Hee; Malaysia under Mahathir Mohamad; and Singapore under Lee Kuan Yew.  Arroyo's remarks will be drawn from the paper he has been writing at Stanford on "The Political Economy of Successful Reform: Asian Stratagems," which he describes as "a playbook of useful maneuvers for economic reformers."

Dennis Arroyo is presently on leave from his government post as a director of the National Economic and Development Authority (NEDA) of the Philippines.  He has held consultancies with the World Bank, the United Nations, and the survey research firm Social Weather Stations, and has written widely on socioeconomic topics.  His critique of the Philippine development plan won a mass media award for "best analysis."  He has degrees in economics from the University of the Philippines.  

The renewed cohabitation between Ukrainian President Victor Yushchenko and Prime Minister Tymoshenko has quickly begun to show stress. Will they repeat the 2005 experience, when Tymoshenko was sacked, and how do these tensions complicate Ukraine's current domestic and foreign policy challenges?

Synopsis

Ambassador Pifer begins his talk by recapping the past relationship between President Yushchenko and Prime Minister Tymoshenko. Mr. Pifer then proceeds to analyze the general political situation between the two at this early stage in their coalition. He explains that Yushchenko’s camp is seriously worried about the votes Tymoshenko could take away from him in the 2009 presidential election. Mr. Pifer also reveals that many businesses that work closely with Yushchenko’s administration are more politically aligned with the opposing Party of Regions rather than Tymoshenko’s bloc. In addition, Mr. Pifer discusses the concerns with the maneuvers of the head of the presidential administration who is perhaps working for his own agenda in links with the opposing Party of Regions.

Mr. Pifer briefly analyzes the political situations for the nation’s major party leaders as well. He explains that Yushchenko is losing support as he seems more focused on the 2009 elections and has failed to advance on forming and implementing a policy agenda. Similarly, Viktor Yanukovych, head of the opposing Party of Regions, is also losing support primarily due to poor political tactics such as physically blocking the speaker of Ukraine’s parliament from entering the parliament to speak. Mr. Pifer explains that there are also rumors of internal divisions within the party. However, Mr. Pifer argues Tymoshenko seems to be staying on top and maintaining support. This is arguably due to the achievements she already has to her name with her new cabinet.

Although, it seems that this coalition arrangement is detrimental to Yushchenko politically, Mr Pifer argues that there is little alternative. He explains that it is very difficult to break a coalition and such a move could split Yushchenko’s party. At the same time, Mr. Pifer believes it is clear that Yushchenko and Tymoskenko’s relationship is costing Ukraine. Mr. Pifer feels there is too much infighting and not enough governance, and this is illustrated by the lack of much shared domestic policy. Mr. Pifer also cites the two’s competing trips to negotiate with Gazprom and disputes over the NATO membership action plan as evidence for their disagreements and inefficiency.

Mr. Pifer concludes by arguing that while this coalition is fragile, he feels it may last longer than many believe as there is very little alternative. However, although this coalition will probably not be effective in policy-making, the fact that the economy is sound and both candidates are playing by democratic rules should be taken as a good sign.

about the speaker

Steven Pifer is a senior adviser with the Center for Strategic and International Studies. A retired Foreign Service officer, his more than 25 years with the State Department focused on U.S. relations with the former Soviet Union and Europe, as well as on arms control and security issues. His assignments included deputy assistant secretary of state in the Bureau of European and Eurasian Affairs (2001-2004), ambassador to Ukraine (1998-2000), and special assistant to the president and National Security Council senior director for Russia, Ukraine and Eurasia (1996-1997). He also served at the U.S. embassies in Warsaw, Moscow and London, as well as with the U.S. delegation to the Intermediate-Range Nuclear Forces negotiations in Geneva. He holds a B.A. in economics from Stanford University, where he later spent a year as a visiting scholar at Stanford's Institute for International Studies. He is a member of the Council on Foreign Relations.

Lant Pritchett is Professor of the Practice of Economic Development at the Kennedy School of Government at Harvard University (as of July 1, 2007).

In addition he works as a consultant to Google.org, is a non-resident fellow of the Center for Global Development, and is a senior fellow of BREAD. He is also co-editor of the Journal of Development Economics.

He graduated from Brigham Young University in 1983 with a B.S. in Economics and in 1988 from MIT with a PhD in Economics.

After finishing at MIT Lant joined the World Bank, where he held a number of positions in the Bank's research complex between 1988 and 1998, including as an adviser to Lawrence Summers when he was Vice President 1991-1993. From 1998 to 2000 he worked in Indonesia. From 2000 to 2004 Lant was on leave from the World Bank as a Lecturer in Public Policy at the Kennedy School of Government at Harvard University. In 2004 he returned to the World Bank and moved to India where he worked until May 2007.

He has been part of the team producing many World Bank reports, including: World Development Report 1994: Infrastructure for Development, Assessing Aid: What Works, What Doesn't and Why (1998), Better Health Systems for Indias Poor: Findings, Analysis, and Options (2003), World Development Report 2004: Making Services Work for the Poor, Economic Growth in the 1990s: Learning from a Decade of Reforms (2005).

In addition he has authored (alone or with one of his 22 co-authors) over 50 papers published in refereed journals, chapters in books, or as articles, as least some of which are sometimes cited. In addition to economics journals his work has appeared in specialized journals in demography, education, and health. In 2006 he published his first solo authored book Let Their People Come.

Lant, an American national, was born in Utah in 1959 and raised in Boise Idaho. Perhaps because of this, he has worked in, or traveled to, over forty countries and has lived in three other countries: Argentina (1978-80), Indonesia (1998-2000), and India (2004-2007).