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Professor Campbell will discuss Japan's new public, mandatory, long-term care insurance program: does it make sense as social policy? As economic policy? Professor Creighton has long been interested in the relationship between politics and substantive public policy, and in the way policies change upon implementation. He has pursued this interest mostly in the context of the Japanese political system, and in this talk he will apply his framework to Japan's foray into socialized care for the elderly.

Okimoto Conference Room, Third Floor, East Wing, Encina Hall

John Creighton Campbell Professor of Political Science Speaker University of Michigan
Workshops
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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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Publication Type
Books
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The MIT Press
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Takeo Hoshi
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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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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.

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Okimoto Conference Room, Third Floor, Encina Hall, East Wing

Workshops
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All-day conference on Japanese institutional reform sponsored by the Asia/Pacific Research Center, Stanford University.

  • Changes in the Political System
    Speaker: Mr. Yasuhisa Shiozaki, Member of the Japanese House of Councilors and former Vice Minister of Finance, Tokyo
    Commentator: Prof. Daniel Okimoto, Professor of Political Science, Stanford University
  • Changes in the Bureaucracy
    Speaker: Mr. Ryozo Hayashi, Deputy Director of the Bureau of Information and Machin- ery Industry, Tokyo
    Commentator: Prof. Hugh Patrick, Professor of International Business, Columbia Univer- sity, New York
  • Changes in Business
    Speaker: Mr. Taizo Nishimuro, CEO & President of Toshiba, Tokyo
    Commentators: Mr. James Abegglen, Chairman, Asia Advisory Services, Tokyo. Mr. Hiroaki Yoshihara, Senior Partner at KPMG, Mountain View, California
  • Panel Discussion on the Institutional Changes
    Prof. Hugh Patrick, Professor of International Business, Columbia University
    Prof. Tadao Kagono, Dean of the Graduate School of Business, Kobe University
    Prof. Harry Rowen, Director, Asia/Pacific Research Center, Stanford University
    Mr. Katsuhiro Nakagawa, Executive Adviser, The Tokyo Marine and Fire Insurance Co. and Former Vice Minister of MITI, Tokyo
    Mr. Dan Sneider, National/Foreign Editor, San Jose Mercury News, San Jose, CA

Bechtel Conference Center

Conferences
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