FSI's research on the origins, character and consequences of government institutions spans continents and academic disciplines. The institute’s senior fellows and their colleagues across Stanford examine the principles of public administration and implementation. Their work focuses on how maternal health care is delivered in rural China, how public action can create wealth and eliminate poverty, and why U.S. immigration reform keeps stalling.
FSI’s work includes comparative studies of how institutions help resolve policy and societal issues. Scholars aim to clearly define and make sense of the rule of law, examining how it is invoked and applied around the world.
FSI researchers also investigate government services – trying to understand and measure how they work, whom they serve and how good they are. They assess energy services aimed at helping the poorest people around the world and explore public opinion on torture policies. The Children in Crisis project addresses how child health interventions interact with political reform. Specific research on governance, organizations and security capitalizes on FSI's longstanding interests and looks at how governance and organizational issues affect a nation’s ability to address security and international cooperation.
Historical sources of institutional trajectories in economic development: China, Japan and Korea compared
This article first provides a game-theoretic, endogenous view of institutions and then applies the idea to identify the sources of institutional trajectories of economies development in China, Japan, and Korea. It stylises the Malthusian phase of the East Asian economies as a peasant-based economies in which small conjugal families self-managed their working times between farming on small plots—leased or owned—and handcrafting for personal consumption and markets. It then compares institutional arrangements across these economies that sustained otherwise similar economies. It characterises the varied nature of the political states of Qing China, Tokugawa Japan and Yi Korea by focusing on the way agricultural taxes were enforced. It also identifies different patterns of social norms of trust that were institutional complements to, or substitutes for, the political states. Finally, it traces the path-dependent transformations of these state-norm combinations along subsequent transitions to post-Malthusian phases of economic growth in the respective economies.
Uncertain Times Ahead: Changing Principles
The world has undergone major drastic changes in the last two decades driven by several major factors, eg, explosion of human population and connectivity. Such changes seem further accelerated in recent years and it seems that our future becomes more uncertain and unpredictable. The Fukushima Nuclear Accident awakened us and led to creation of Independent Investigation Commission by the National Diet of Japan; The Commission Report revealed some of the fundamental issues of Japan’s nuclear policy. Meanwhile, multi-stakeholders’ engagement has become critical in various social affairs and in policy making domains within and across national boundaries, and has contributed in significant ways to affect the processes of addressing and impacting global agenda, such as climate change, food and water, energy, urbanization, biodiversity, human capital with shifting the balance of economy and power. In my view, the principles of our society may be changing quite fast heading somewhat differently from our conventional norm. The science community can and should contribute to these issues in nurturing future leaders, but in what way?
Kiyoshi Kurokawa is a graduate of University of Tokyo School of Medicine, trained in internal medicine and nephrology, in US 1969-84; Professor of Med, Dept Med ofUCLA Sch Med (79-84), Chair, Univ Tokyo Faculty of Med (89-96), Dean of Tokai Univ School of Med (96-02, President of Science Council of Japan (03-07), Science Advisor to Prime Minister (07-09), Board member of A*STAR (06-00), Bibliotheca Alexandria (04-08), Khalifa University (08- ), Okinawa Institute of Science and Tech (06- ), Global Science and Innovation Advisory Board of the Prime Minister of Malaysia (11-); President of Intl Soc Nephrology (97-99), Inst of Medicine of US Academies (92). Recently, chaired Fukushima Nuclear Accident Independent Investigation Commission by the National Diet of Japan (Dec 11-July 12). AAAS Scientific Freedom and Responsibility Award (2012), ‘100 Top Global Thinkers 2012” of Foreign Policy.
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Syncretism: The Politics of Japan’s Financial Reforms
This paper examines how diversely organized capitalist societies evolve by analyzing the transformation of Japan’s financial system since the 1990s. The banking, securities and insurance, as well as the postal financial institutions changed significantly, but are hardly converging to Anglo-American or ‘liberal market’ models. The authors contend that Japan’s new financial system is best characterized as syncretic, with new, traditional and hybrid forms of practices, organizations and norms coexisting. Syncretism in industry was driven by a distinctive pattern of interest group politics we call syncretization. Strong political leadership, facing serious electoral threats, shifted the policy logic from gradual incremental reforms following traditional interest group dynamics, to rapid reforms that excluded the traditionally powerful interest groups most affected by these reforms. We support the notion that diverse industry outcomes can be complementary to broader political economic reforms that take Japan away from its traditional model, part of a broader ‘convergence towards diversity.’
Institutions and Comparative Economic Development
This book explores why different patterns of economic development and growth have been observed across different regions and over time. Drawing on the contributions of outstanding scholars in comparative and historical institutional analysis, this volume presents the roles of political institutions, social organizations and norms, culture, and policy in economic development and societal evolution. The contributors include, besides the editors, G. Austin, A. Greif, D. Ma, T. Khanna, J.L. Rosenthal, C.H. Shiue, J. Svenjinar, P. Temmin, R.B. Wong, and others. The volume provides a valuable resource for general readers, academics, and policymakers with an interest in the future of the evolving world economy.
Complexity and Institutions: Markets, Norms and Corporations
This volume explores how complex economic transactions can be treated in economics, as well as how societies bring order to complex economic and social transactions through various institutional devices. Bringing together eminent scholars from the fields of game theory, complexity, econometrics and law, it explores theoretically and empirically how markets, social norms, and corporate organization and governance evolve, and how these institutions affect economic behavior. The contributors include, besides the editors, S. Cincotti, M. Gallegatti, M. Kandori, K. Pistor, B. Skyrms, R. Sugden, and others.
Takeo Hoshi
Takeo Hoshi was Henri and Tomoye Takahashi Senior Fellow at the Freeman Spogli Institute for International Studies (FSI), Professor of Finance (by courtesy) at the Graduate School of Business, and Director of the Japan Program at the Shorenstein Asia-Pacific Research Center (APARC), all at Stanford University. He served in these roles until August 2019.
Before he joined Stanford in 2012, he was Pacific Economic Cooperation Professor in International Economic Relations at the Graduate School of International Relations and Pacific Studies (IR/PS) at University of California, San Diego (UCSD), where he conducted research and taught since 1988.
Hoshi is also Visiting Scholar at Federal Reserve Bank of San Francisco, Research Associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER), and Senior Fellow at the Asian Bureau of Finance and Economic Research (ABFER). His main research interest includes corporate finance, banking, monetary policy and the Japanese economy.
He received 2015 Japanese Bankers Academic Research Promotion Foundation Award, 2011 Reischauer International Education Award of Japan Society of San Diego and Tijuana, 2006 Enjoji Jiro Memorial Prize of Nihon Keizai Shimbun-sha, and 2005 Japan Economic Association-Nakahara Prize. His book titled Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001) co-authored with Anil Kashyap (Booth School of Business, University of Chicago) received the Nikkei Award for the Best Economics Books in 2002. Other publications include “Will the U.S. and Europe Avoid a Lost Decade? Lessons from Japan’s Post Crisis Experience” (Joint with Anil K Kashyap), IMF Economic Review, 2015, “Japan’s Financial Regulatory Responses to the Global Financial Crisis” (Joint with Kimie Harada, Masami Imai, Satoshi Koibuchi, and Ayako Yasuda), Journal of Financial Economic Policy, 2015, “Defying Gravity: Can Japanese sovereign debt continue to increase without a crisis?” (Joint with Takatoshi Ito) Economic Policy, 2014, “Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan” (with Anil Kashyap), Journal of Financial Economics, 2010, and “Zombie Lending and Depressed Restructuring in Japan” (Joint with Ricardo Caballero and Anil Kashyap), American Economic Review, December 2008.
Hoshi received his B.A. in Social Sciences from the University of Tokyo in 1983, and a Ph.D. in Economics from the Massachusetts Institute of Technology in 1988.
Protecting nuclear plants from nature's worst
As the East Coast cleans up from super-storm Sandy, Phillip Lipscy and Kenji E. Kushida point to important lessons from Japan's Fukushima nuclear disaster. They say more must be done to safeguard U.S. nuclear plants from natural disasters.
The Crisis in Japanese and Chinese Public Opinion: Can Soft Power Soften an 'Enemy Image'?
Why are Japan and China perpetually at odds? In this talk, Christian Collet will discuss the growing role of public opinion in bilateral tensions and the conflicting images that are held by Chinese and Japanese of one another. While there has long been a mixture of affection, anger and rivalry at the diplomatic level, Collet will explain that the roots of contemporary discontent lie, in part, in contradistinctive citizen impressions: in China, perceptions of threat borne of history and new media; in Japan, discontent manifest in domestic political culture, including eroding trust and right-wing ideology. Collet will examine the potential of soft power for ameliorating the relationship, providing some evidence to suggest that pop cultural exchanges may have a desired impact on segments of both publics. But soft power can only go so far to soften a negative image; concerted efforts, Collet will argue, also need to be made by opinion leaders to reassure citizens and restore trust in governmental decision-making.
Christian Collet (PhD, University of California, Irvine) joins the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) during the 2012–13 academic year from International Christian University, Tokyo, where he serves as senior associate professor of American politics and international relations.
His research interests focus on public opinion in Asian Pacific/American contexts and the influence of race, ethnicity and nationalism on political mobilization. During his time at Shorenstein APARC, he is working on a project that uses comparative survey data to examine the dynamics of Japanese opinion toward domestic politics, China and Southeast Asia. He is also finishing up a project concerning the role of Vietnam in the political incorporation of first generation Vietnamese Americans. In 2004–05, he held a visiting appointment at Viet Nam National University, Ho Chi Minh City, under the U.S. Fulbright Program.
Collet's work has appeared in Perspectives on Politics, The Journal of Politics, Public Opinion Quarterly, Japanese Journal of Political Science, PS, Amerasia Journal and Race/Ethnicity: Multidisciplinary Global Contexts. He is the co-editor, with Pei-te Lien, of The Transnational Politics of Asian Americans (Temple University Press, 2009).
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Japan's Fukushima Nuclear Disaster: A General-Audience, Non-Technical Narrative with Analysis and Recommendations
Over a year and a half has passed since the Fukushima Nuclear Disaster that began with the earthquake and tsunami disaster that hit Japan’s Tohoku region on March 11, 2011. Much has been written about the Fukushima nuclear disaster, but a cohesive, objective, readable English language narrative of what exactly transpired as the disaster unfolded has yet to widely circulated. An understanding of how events unfolded in the Fukushima disaster is critical to deriving valuable lessons about nuclear power governance, politics, and societal preparedness. As countries such as China, India, and Brazil move to build new nuclear reactors to serve the energy needs of ever increasing numbers of ever-wealthier populations, lessons from Japan’s experience will only increase in significance.
The talk focuses on a narrative of the chaotic political and corporate responses as events developed rapidly at the Fukushima Dai-Ichi nuclear power plant. It also puts the Fukushima Dai-Ichi plant in comparative perspective among the three other nuclear power plants hit by the tsunami. Many of the details are likely to come as a surprise even to a well-informed audience: the absence of the power operator’s president and chairman for almost a full day as the crisis unfolded; chaos magnified by the emergency nuclear response headquarters set up in the Prime Minister’s office initially unable to receive cell phone signals or faxes; the dozens of emergency backup battery trucks arriving at the plant only to discover they could not connect to the reactors in crisis, and the like. The talk is based on the following report: “Japan’s Fukushima Nuclear Disaster: Narrative, Analysis, and Recommendations".
Kenji Kushida is the Takahashi Research Associate in Japanese Studies at the Walter H. Shorenstein Asia-Pacific Research Center. He holds a PhD in political science from the University of California, Berkeley, and was a graduate research associate at the Berkeley Roundtable on the International Economy. Kushida has an MA in East Asian studies and BAs in economics and East Asian studies, all from Stanford University.
Kushida’s research interests are in the fields of comparative politics, political economy, and information technology. He focuses mainly on Japan with comparisons to Korea, China, and the United States. He has four streams of academic research and publication: institutional and governance structures of Japan’s Fukushima nuclear disaster; political economy issues surrounding information technology; political strategies of foreign multinational corporations in Japan; and Japan’s political economic transformation since the 1990s.
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Kenji E. Kushida
He has published several books and numerous articles in each of these streams, including “The Politics of Commoditization in Global ICT Industries,” “Japan’s Startup Ecosystem,” "How Politics and Market Dynamics Trapped Innovations in Japan’s Domestic 'Galapagos' Telecommunications Sector," “Cloud Computing: From Scarcity to Abundance,” and others. His latest business book in Japanese is “The Algorithmic Revolution’s Disruption: a Silicon Valley Vantage on IoT, Fintech, Cloud, and AI” (Asahi Shimbun Shuppan 2016).
Kushida has appeared in media including The New York Times, Washington Post, Nihon Keizai Shimbun, Nikkei Business, Diamond Harvard Business Review, NHK, PBS NewsHour, and NPR. He is also a trustee of the Japan ICU Foundation, alumni of the Trilateral Commission David Rockefeller Fellows, and a member of the Mansfield Foundation Network for the Future. Kushida has written two general audience books in Japanese, entitled Biculturalism and the Japanese: Beyond English Linguistic Capabilities (Chuko Shinsho, 2006) and International Schools, an Introduction (Fusosha, 2008).
Kushida holds a PhD in political science from the University of California, Berkeley. He received his MA in East Asian Studies and BAs in economics and East Asian Studies with Honors, all from Stanford University.