Stanford University

Economic Affairs

China, the Party and Its Banks

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Speaker:    Dr. Carl E. Walter, Author of “Red Capitalism”

Moderator:  Michael Harris, President of Finance, Ambow Education

Until China began its highly successful reform effort in 1978, banks as institutions hardly existed, they were mostly a channel to provide funding to state enterprises. Yet after the economic reform in the 1980s, there was a rush of banking privatization and this enthusiasm to drive economic growth led to excessive bank lending and high rates of inflation in the 1990s. Following the Asian Financial Crisis and the collapse of Guangdong International Trust and Investment Co., a single party committee for each of the big state banks was created. The objective was to build relatively independent banking institutions with centralized management structures, thus forming special bond between the Party and Banks in China. Dr. Walter will discuss the modern evolution of China’s banks and the challenges in transiting to a more open, consumption-based model of economic development.

Carl E. Walter has worked in China′s financial sector for the past 20 years, participating in many of the country's financial reforms. He played a major role in China′s groundbreaking first overseas IPO in 1992 as well as the first listing of a state–owned enterprise on the New York Stock Exchange in 1994. He held a senior position in China′s first joint venture investment bank where he supported a number of significant domestic stock and debt underwritings for major Chinese corporations and financial institutions. More recently, he helped build one of the most successful and profitable domestic security, risk and currency trading operations for a major international investment bank. He holds a PhD from Stanford University and a graduate certificate from Beijing University.

Stanford Center at Peking University

Carl E. Walter Author of "Red Capitalism" Speaker
Michael Harris President of Finance Moderator Ambow Education
Lectures

Can Cash Transfers Save Countries from Resource Windfalls?

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Abstract:

The discovery of oil or gas in a poor country is potentially beneficial and, simultaneously, potentially calamitous. While countries could put oil revenues toward building much-needed schools and roads, fixing and staffing health systems, and policing the streets, many resource-rich states fare little better—and often much worse—than their re resource-poor counterparts. Too often public money is misallocated and funds meant to be saved are raided, and citizens pay the price. While there is much discussion about how to respond to windfalls, solutions to counteract potential corrosive effects are highly elusive. Todd Moss leads CGD's Oil-to-Cash initiative, which is exploring one policy option: paying revenues directly to citizens. Under this proposal, a government would transfer some or all of the revenue from natural resource extraction to citizens in universal, transparent, and regular payments. The state would treat these payments as normal income and tax it accordingly—thus forcing the state to collect taxes, and addinng additional pressure for public accountability and more responsible resource management. Todd will talk about the idea, the pitfalls, and some of the emerging models experimenting with aspects of the Oil-to-Cash model.

Todd Moss is vice president for programs and senior fellow at the Center for Global Development, a Washington-DC based thinktank. Moss previously served in the US State Department, worked at the World Bank, and was a lecturer at the London School of Economics.  He is the author of African Development: Making sense of the issues and actors (2011).

Encina Ground Floor Conference Room

Todd Moss Vice president for programs and senior fellow at the Center for Global Development Speaker Washington-DC based thinktank
Seminars

Stanford Conference on Japanese Entrepreneurship

On June 6 and 7, the Stanford Project on Japanese Entrepreneurship (STAJE) of SPRIE at the Stanford Graduate School of Business, in cooperation with the Stanford Technology Ventures Program (STVP) of the Stanford School of Engineering, will present the 5th Annual Academic Conference on Japanese Entrepreneurship at the Huang Engineering Center at Stanford University. The theme of the conference is "Entrepreneurial Policy, Outcomes, and Strategies in Japan: Lessons for the Rest of the World". We invite papers, as in past years, from the fields of management, strategy, organizations, sociology, political science and economics to be submitted to this conference, which will be attended by scholars from Japan, the United States, and Europe.

Consul General Hiroshi Inomata will give the opening address.

The following scholars will deliver keynote speeches:

Hugh Patrick, Columbia University
Tom Byers, Stanford University
Tina Seelig, Stanford University

The following scholars will present papers:

Christina Ahmadjian, Hitotsubashi University
Serguey Braguinsky, Carnegie-Mellon University
Steven Casper, Keck Graduate Institute, Claremont Colleges
Joseph Cheng, University of Illinois at Urbana-Champaign
Robert Cole, UC Berkeley
Charles Eesley, Stanford University
George Foster, Stanford University
Masayo Fujimoto, Doshisha University
Kathryn Ibata-Ahrens, DePaul University
Martin Kenney, UC Davis
Robert Kneller, Tokyo University
Masahiro Kotosaka, Oxford University
Kazuyuki Motohashi, Tokyo University
Renee Rottner, New York University
Ulrike Schaede, UC San Diego
Kay Shimizu, Columbia University
Janet Smith, Claremont-McKenna University
Richard Smith, UC Riverside

The following are confirmed discussants:

Charla Griffy-Brown, Pepperdine University
Richard Dasher, Stanford University
Robert Eberhart, Stanford University
Kathleen Eisenhart, Stanford University
Nobuhiko Hibara, WASEDA Business School
Glenn Hoetker, University of Arizona
Takeo Hoshi, Stanford University
Riitta Katila, Stanford University
Christine Isakson, Stanford University
Joachim Lyon, Stanford University
Tammy Madsen, Santa Clara University
William F. Miller, Stanford University
Tom Roehl, Washington University
Steve Vogel, UC Berkeley
Dan Wang, Stanford University
Jennifer Wooley, Santa Clara University

The following practitioner and financial supporter will give short talks:

Mike Alfant, CEO Fusion Systems, President ACCJ

STAJE applies the principles of entrepreneurship to the academic domain by creating opportunities for innovative, creative and multidisciplinary approaches to research on contemporary Japan. During this conference we will present high quality contributions on issues related to entrepreneurship, institutions, and Japan such as empirical studies, case studies, political and social institutional studies in Japan, and new research methodology including experimental design.

More information on last year's conference can be found at:
http://sprie.gsb.stanford.edu/news/sprie_hosts_4th_annual_stanford
_project_on_japanese_entrepreneurship_conference_20120521/

For additional information or to request an invitation, please write to Robert Eberhart at eberhart@stanford.edu.

Sponsors

 

      

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Mackenzie Room, 3rd floor, Huang Engineering Center, School of Engineering, 475 Via Ortega, Stanford, CA 94305

Conferences
Stanford Project on Japanese Entrepreneurship (STAJE)

Performance Legitimacy, State Autonomy and China's Economic Miracle

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All the theories that explain post-Mao China’s economic success tend to attribute it to one or several “successful” policies or institutions of the Chinese government, or to account for the success from economic perspectives. This article argues that the success of the Chinese economy relies not just on the Chinese state’s economic policy but also on its social policies. Moreover, China’s economic success does not merely lie in the effectiveness of any single economic or social policy or institution, but also in the state’s capacity to make a policy shift when it faces the negative unintended consequences of its earlier policies. The Chinese state is compelled to make policy shifts quickly because performance constitutes the primary base of its legitimacy, and the Chinese state is able to make policy shifts because it enjoys a high level of autonomy inherited from China’s past. China’s economic development follows no fixed policies and relies on no stable institutions, and there is no Chinese model or “Beijing consensus” that can be constructed to explain its success.

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Jessie Jin-Jen Leu

Encina Hall
616 Serra Street
Stanford, CA 94305-6055

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Visiting Scholar

Jessie Jin-Jen Leu a government official from the Republic of China (Taiwan), was a visiting scholar at the Stanford Center on Democracy, Development, and the Rule of Law (CDDRL) in 2012-13. 

Ms. Leu is a senior economic officer who worked in various positions at the Ministry of Economic Affairs of R.O.C. She is experienced on the import management and multilateral trade related to the World Trade Organization (WTO) and Asia-Pacific Economic Cooperation (APEC). Currently she is working as an associate researcher to the National Security Advisor for economic affairs.

Ms. Leu graduated from Taiwan’s Tam-Kang University with a Bachelor's degree of International Trade in 1989. She continued her Master’s degree at University of Wyoming, United States in 1995. Ms. Leu also participated in the WTO negotiation and leadership Program at the Harvard University’s Kennedy School of Government in 2003.

Paying for Performance to Improve Health in Rural China

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Grant Miller will discuss the results of his SAPARC-funded research in rural China, supplementing a large NIH-funded project about pay-for-performance to improve health. The research was designed to test the effect of offering school principals small incentives for anemia reduction on the health and academic performance of primary school students – potentially leading to substantially more cost-effective health policies.

Grant Miller, PHD, MPP, is an Associate Professor of Medicine at the Stanford School of Medicine, a Core Faculty Member at the Center for Health Policy/Primary Care and Outcomes Research, and a Research Associate at the National Bureau of Economic Research (NBER). He is also a Faculty Fellow of the Stanford Center for International Development and a Faculty Affiliate of the Stanford Center for Latin American Studies. His primary areas of interest are health and development economics and economic demography.

Miller's current research focuses broadly on behavioral obstacles to health improvement in developing countries. One line of studies investigates household decision-making underlying puzzlingly low adoption rates of highly efficacious health technologies (like point-of-use drinking water disinfectants and improved cookstoves) in many poor countries. Another vein of research investigates misaligned macro- and micro-level incentives governing the supply of health technologies and services. He has conducted these and other research projects at institutions including the National Bureau of Economic Research, the Urban Institute, and the University of California-San Francisco's Institute for Health Policy Studies. He received a BA in psychology from Yale College, a master's degree in public policy from the Kennedy School of Government at Harvard University, and a PhD in health policy/economics also from Harvard.

Philippines Conference Room

Grant Miller

Encina Commons Room 101,
615 Crothers Way,
Stanford, CA 94305-6006

(650) 723-2714 (650) 723-1919
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Henry J. Kaiser, Jr. Professor
Professor, Health Policy
Senior Fellow at the Freeman Spogli Institute for International Studies
Senior Fellow at the Stanford Institute for Economic Policy Research
Professor, Economics (by courtesy)
grant_miller_vert.jpeg PhD, MPP

As a health and development economist based at the Stanford School of Medicine, Dr. Miller's overarching focus is research and teaching aimed at developing more effective health improvement strategies for developing countries.

His agenda addresses three major interrelated themes: First, what are the major causes of population health improvement around the world and over time? His projects addressing this question are retrospective observational studies that focus both on historical health improvement and the determinants of population health in developing countries today. Second, what are the behavioral underpinnings of the major determinants of population health improvement? Policy relevance and generalizability require knowing not only which factors have contributed most to population health gains, but also why. Third, how can programs and policies use these behavioral insights to improve population health more effectively? The ultimate test of policy relevance is the ability to help formulate new strategies using these insights that are effective.

Faculty Fellow, Stanford Center on Global Poverty and Development
Faculty Affiliate, Stanford Center for Latin American Studies
Faculty Affiliate, Woods Institute for the Environment
Faculty Affiliate, Interdisciplinary Program in Environment & Resources
Faculty Affiliate, Stanford Center on China's Economy and Institutions
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Grant Miller Associate Professor of Medicine; Associate Professor, by courtesy, of Economics and of Health Research and Policy; Senior Fellow at FSI and CHP/PCOR Core Faculty Member Speaker Stanford University
Seminars

Child Adoption in Japan and the U.S.: Comparative Historical Analysis

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Adopting a child, as an alternative to bearing a child, is a widely accepted means of creating a family in America today. By contrast, it is surprisingly uncommon for married couples in Japan to adopt an infant and raise the child “as their own.” In my estimates, the rate of unrelated child adoption per 10,000 births in recent years was about 170 in the U.S. and 6 in Japan. In this study, I use a framework of family economics to examine the evolution of child adoption in the U.S. and Japan from 1950 to 2010. I compile historical statistics to compare the trends in child adoption and explore demand-side, supply-side, and institutional factors underlying the observed trends. I find that, in the U.S., there has been an “excess demand” for adoptable infants throughout the postwar period and thus the trends were essentially driven by the availability of infants relinquished for adoption. Due to large supply shocks, the composition of child adoption in the U.S. has changed greatly from domestic infant adoption to the adoption of foreign infants and foster-care children since the 1970s. It is much harder to explain the adoption trends in Japan, however, which exhibit a persistent and continuous decline over the last five decades. Taking advantage of the major legal reform that took place in 1988, I test a demand-side theory of child adoption and examine what motivated parents to adopt children in Japan. Finally, I discuss a role of child adoption in improving children’s welfare.

Chiaki Moriguchi is a professor at the Institute of Economic Research of Hitotsubashi University in Tokyo. She received a BA from Kyoto University, an MA from Osaka University, and a PhD from Stanford University, all in economics. She was an assistant professor at Harvard Business School and Northwestern University and a faculty research fellow at the National Bureau of Economic Research, prior to joining Hitotsubashi University in 2009. Her main research fields are comparative economic history, comparative institutional analysis, and the economics of family. She has worked on the comparative historical analysis of employment systems, income inequality, and family formation in Japan and the U.S. Her research has appeared in Review of Economics and Statistics, Journal of Economic History, and Industrial and Labor Relations Review. She is a recipient of the 2011 Japan Society for the Promotion of Science (JSPS) Prize.  

Philippines Conference Room

Chiaki Moriguchi Professor Speaker Institute of Economic Research, Hitotsubashi University
Seminars
Japan Colloquium Series

Information, Ethnic Voting and Accountability: Evidence from Sierra Leone

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CISAC Conference Room

Katherine Casey Assistant Professor of Political Economy Speaker Stanford Graduate School of Business

Brenna Powell

Encina Hall
Stanford, CA 94305-6055

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Visiting Scholar, 2011-12
Powell.jpg

Brenna Marea Powell received her PhD in Government and Social Policy from Harvard in 2011. She is interested in comparative racial and ethnic politics, conflict and inequality. Her research includes security and policing in divided societies, as well as racial politics in Brazil and the United States. She has been a graduate fellow at Harvard's Wiener Center for Inequality and Social Policy, and Stanford's Center for International Security and Cooperation. Prior to her graduate study, she spent five years working with the Stanford
Center on International Conflict and Negotiation on grassroots dialogue and community-based mediation programs in Northern Ireland. Brenna speaks Portuguese and received her BA from Stanford in Comparative Studies in Race and Ethnicity.

At CDDRL, Brenna is working with the Global Commission on Elections, Democracy and Security supported by the Kofi Annan Foundation and International IDEA. She is also working on a book project about post-conflict policing in Northern Ireland.

Brenna Powell Associate Director Commentator Stanford Center on International Conflict and Negotiation
Seminars

“Migrant Tastes and Formation of Popular Culture: The Case of Turkey”

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In societies with continuous in-and-out migration in relatively short periods the formation of dominant culture comes into shape as "popular". Continental theories for defining people's culture mostly assume some permanent structures (cultural preferences of elites or classes) in modern societies, yet not so successful for explaining the rise of popular cultures in societies like the USA. Turkey, as a country of migratory waves from its birth, is a pristine example of such a process and unique for its elites' interventions into the cultural sphere. The talk is broadly concerns with three dynamics on the formation of Turkish popular culture - demographic transition, elitist cultural policies, and partly oppositional character of people's taste.

Orhan Tekelioğlu is Chair of Department of New Media at Bahçeşehir University (Istanbul, Turkey) and Visiting Scholar at the University of Pennyslvania’s Annenberg School of Communication.  He is a scholar of cultural sociology including such research fields as media consumption, the history of Turkish popular music, the sociological features of Turkish literature, and the cultural politics of the Republican period. He received his Ph.D. in Sociology from the Middle Eastern Technical University (Ankara, Turkey) and his Magisterartium degree in Sociology from the University of Oslo. He taughted in Departments of Political Science and Turkish Literature at the Bilkent University in Ankara, in the Department of Near Eastern Languages and Cultures at Ohio State University, and acted as Acting Dean of the Faculty of Communication at the Izmir University of Economics. Dr. Tekelioğlu conducts field studies on popular television dramas and reality shows, and history of jazz and popular music in Istanbul. He has published articles in Turkish and in English and submitted papers to numerous national and international congresses. Among his publications are Pop Ekran [Pop Screen, 2013], Pop Yazılar, [Pop Essays, 2006], Foucault Sosyolojisi [Sociology of Foucault, 2003], Şerif Mardin’e Armağan, [A Festschrift for Şerif Mardin, 2005), "Modernizing reforms and Turkish music in the 1930s"  (Turkish Studies, 2001), and “Two Incompatible Positions in the Challenge Against the Individual Subject of Modernity” (Theory& Psychology, 1997).

Co-sponsored by the Mediterranean Studies Forum, Program on Urban Studies, the Europe Center, and Turkish Students Association

Encina Hall West
2nd floor, Room 208

Orhan Tekelioğlu Professor and Chair of the Department of New Media at Bahçeşehir University (Istanbul, Turkey) and Visiting Scholar Speaker the University of Pennyslvania’s Annenberg School of Communication.
Seminars
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