Explaining Institutional Change: Policy Areas, Outside Options, and the Bretton Woods Institutions
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I propose and test a theoretical framework that explains institutional change in international relations. Like firms in markets, international institutions are affected by the underlying characteristics of their policy areas. Some policy areas are prone to produce institutions facing relatively little competition, limiting the outside options of member states and impeding redistributive change. In comparison, institutions facing severe competition will quickly reflect changes in underlying state interests and power. To test the theory empirically, I exploit common features of the Bretton Woods institutions—the International Monetary Fund and World Bank—to isolate the effect of variation in policy area characteristics. The empirical tests show that, despite having identical membership and internal rules, bargaining outcomes in the Bretton Woods institutions have diverged sharply and in accordance with the theory.
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American Journal of Political Science
Recruiting Top Talent for Japanese and American Startups - Differences, Opportunities, and Challenges
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The Stanford Silicon Valley-New Japan Project
Public Forum Series with Networking
Casey Wahl is the CEO and founder of Wahl & Case K.K., a Tokyo-based global recruitment firm with a focus on startups and cross border expansion. Mr. Wahl has many years of experience in the Japan and is also the founder of Red Brick Ventures, an angel investment and incubation platform. He recently published a book in Japanese (english version to come), containing the stories of several Japanese entrepreneurs, giving insights into the challenges they face and their journeys to success. He will be discussion characteristics of the labor market for startups in Japan and how Japanese companies can best hire talent in Silicon Valley.
Thursday, May 14, 2015
4:15 – 5:30 pm Lecture
5:30pm - 6:00pm Networking
Cypress Semiconductor Auditorium (CISX Auditorium)
Public Welcome • Light Refreshments
Cypress Semiconductor Auditorium (CISX Auditorium)
Paul G. Allen Building, Stanford University
330 Serra Mall, Stanford CA 94305
**Entrance is the Serra Mall side of the building**
https://www.google.com/maps?q=CISX+Cypress+Semiconductor+Auditorium@37.4295793,-122.1748332
Casey Wahl
CEO and founder of Wahl & Case K.K
Seminars
Security Challenges in a Turbulent World: Fewer Enemies, More Challenges, and Greater Anxiety
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Speech excerpt:
The conference is designed to illustrate the scope and variety of the security challenges we face and I commend both the organizers and the presenters. I have learned much and am confident you have as well. Others have addressed specific challenges; my assignment is to provide a big picture perspective that will provide context and a framework for understanding the nature of the world we live in and the types of challenges we face.
Toward that end, I will organize my remarks around three interrelated questions:
Why do we characterize the world and our present era as turbulent?
Why do we consider the security challenges we face to be different, and perhaps more dangerous, than those confronted by previous generations of Americans?
And finally, which of the many perceived and proclaimed security challenges are most important, and what should we do about them?
Each of these questions warrants an entire lecture—or conference—but you don’t have that much time so I hope you will allow me to discuss them in highly abbreviated fashion. We can dig deeper in the question and answer period if you wish [...]
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Annual IAS Symposium
New Channels Dialogue 2015 Final Report
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International Terrorism and Japan
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Abstract
In late January this year, the news that two Japanese hostages were killed by ISIL (Islamic State of Iraq and the Levant) sent a shock wave all over Japan. This was not the first time that Japanese citizens were killed by international terrorists, but the length of time that Japanese general public were exposed to the unfolding event (12 days) sets this apart from the other incidences. Some argue that this would mark a turning point for Japan's approach against political terrorism abroad. In the statement following confirmation of the killings, Prime Minister Shinzo Abe stated “We will never forgive the terrorists. We will collaborate with the world community to make them pay the price.” The Japanese public also started to pay more attention to the issue of international terrorism. In the latest survey on defense issues and SDF (Self Defense Forces) conducted by the Japanese Cabinet, 42.6% of the respondents answered that they are concerned about activities by international terrorists, up from 30.3% three years ago. We ask experts in the Freeman Spogli Institute for International Studies to discuss the future of international terrorism and Japan’s responses.
Speaker Bios
Martha Crenshaw - Senior Fellow at the Freeman Spogli Institue for International Studies; Professor, by courtesy, of Political Science at Stanford University
Takeo Hoshi - Henri H. and Tomoye Takahashi Senior Fellow in Japanese Studies at FSI; Professor, by courtesy, of Finance, Graduate School of Business and Director, Japan Program, Shorenstein APARC at Stanford University
Daniel Sneider - Associate Director for Research, Shorenstein APARC at Stanford University
Nobuhiro Watanabe - Deputy Consul General, Consulate General of Japan in San Francisco
Philippines Conference Room
Encina Hall
616 Serra St, 3rd floor
Stanford University
Stanford, CA 94305
Takeo Hoshi
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Former Henri H. and Tomoye Takahashi Senior Fellow in Japanese Studies at the Freeman Spogli Institute for International Studies
Former Professor, by courtesy, of Finance at the Graduate School of Business
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.
Former Director of the Japan Program at the Shorenstein Asia-Pacific Research Center
CV
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hoshicv2016.pdf
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hoshicv2016.pdf
Nobuhiro Watanabe
Panel Discussions
Stanford Summer Juku 2014
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Stanford Summer Juku on Japanese Political Economy (SSJ-JPE)
August 11-14, 2014
Oksenberg Conference Room
Stanford Japan Program at Shorenstein Asia-Pacific Research Center
The Japan Program at the Walter H. Shorenstein Asia-Pacific Research Center (S-APARC) at Stanford University started Stanford Summer Juku (SSJ) in 2014. In SSJ, researchers on Japanese politics and Japanese economy get together and discuss their research in a relaxed setting. The second annual meeting is held at Stanford on August 11-14, 2014. The first two days again focus on research in political science/political economy and international relations, and the latter two days focus on research in economics and business.
Takeo Hoshi, Kenji E. Kushida, Phillip Lipscy
Program
8/11/2013
8:30-9:00 Breakfast
9:00-10:15 Session I:
"Japan's Abandoned Partisans: Realignment after Electoral Reform", Kenneth McElwain (University of Michigan)
Discussants:
Daniel M. Smith (Harvard University)
Karen Jusko (Stanford University)
10:15-10:45 Break
10:45-12:00 Session II:
"Political Dynasties and the Selection of Cabinet Ministers: The Legacy Advantage in Japan and Ireland" Daniel M. Smith (Harvard University), Shane Martin (University of Leicester)
Discussants:
Gary Cox (Stanford University)
Kenneth McElwain (University of Michigan)
12:00-1:00 Lunch
1:00-2:15 Session III:
"Running the Right Race: The Impact of Electoral Rules on Celebrity Candidate Entry", Justin Reeves (University of California, San Diego)
Discussants:
Ikuo Kume (Waseda University)
Kenneth McElwain (University of Michigan)
2:15- 3:30 Session IV:
"Chasing the Median Voter: A Legislator Experiment on Support for Agricultural Protectionism", Megumi Naoi (University of California, San Diego)
Discussants:
Kenneth Scheve (Stanford University)
Kay Shimizu (Columbia University)
8/12/2013
8:30-9:00 Breakfast
9:00-10:15 Session I:
"Inside the Castle Gates: The Political Strategies of Foreign Multinational Corporations and Institutional Change in Japan", Kenji E. Kushida (Stanford University)
Discussants:
William Grimes (Boston University)
Masahiko Aoki (Stanford University)
10:15-10:45 Break
10:45-12:00 Session II:
"Institions and Central Bank Norm Diffusion: Abenomics and the Delayed Break with the Monetary Orthodoxy", Gene Park (Loyola Marymount University), Saori Katada (University of Southern California), and Giacomo Chiozza (Vanderbilt University)
Discussants:
William Grimes (Boston University)
Phillip Lipscy (Stanford University)
12:00-1:00 Lunch
1:00-2:15 Session III:
"Guns and Trades: How Realist Rhetoric Mobilizes Mass Support for Trade Agreements", Ikuo Kume (Waseda University)
Discussants:
Daniel M. Smith (Harvard University)
Steve Vogel (University of California, Berkeley)
2:15-3:30 Session IV:
"Japan Agriculture (JA) and the Institional Parameters of Local Agricultural Innovation", Patricia Maclachlan (University of Texas) and Kay Shimizu (Columbia University)
Discussants:
Megumi Naoi (University of California, San Diego)
Kenji E. Kushida (Stanford University)
6:30 Group Dinner
8/13/2013
8:30-9:00 Breakfast
9:00-10:15 Session I:
"The Impact of Japan on Western Management: Theory and Practice", Christina L. Ahmadjian (Hitotsubashi University) and Ulrike Schaede (University of California, San Diego)
Discussants:
Mariko Sakakibara (University of California, Los Angeles)
Robert Cole (University of California, Berkeley)
10:15-10:45 Break
10:45-12:00 Session II:
"Does Unconventional Monetary Policy Affect Inequality? Evidence from Japan", Ayako Saiki (De Nederlandsche Bank) and Jon Frost (De Nederlandsche Bank)
Discussants:
Helen Popper (Santa Clara University)
Brad DeLong (University of California, Berkeley)
12:00-1:00 Lunch
1:00-2:15 Session III:
"Do Risk Preferences Change? Evidence from Panel Data Before and After the Great East Japan Earthquake", Chie Hanaoka(Kyoto Sangyo University), Hitoshi Shigeoka (Simon Fraser University), Yasutora Watanabe (Northwestern University)
Discussants:
Chiaki Moriguchi (Hitotsubashi University)
Takeo Hoshi (Stanford University)
2:15-3:30 Session IV:
"The Economics of Attribute-Based Regulation: Theory and Evidence from Fuel-Economy Standards", Koichiro Ito (Boston University) and James M. Sallee (University of Chicago)
Discussants:
Hiroyuki Kasahara (University of British Columbia)
Junjie Zhang (University of California, San Diego)
8/14/2013
8:30-9:00 Breakfast
9:00-10:15 Session I:
"Abenomics: Preliminary Analysis and Outlook", Joshua K. Hausman (University of Michigan) and Johannes F. Wieland (University of California, San Diego)
Discussants:
Michael Hutchison (University of California, Santa Cruz)
Takatoshi Ito (University of Tokyo)
10:15-10:45 Break
10:45-12:00 Session II:
"The Effect of Bank Recapitalization Policy on Corporate Investment: Evidence from a Banking Crisis in Japan", Hiroyuki Kasahara (University of British Columbia), Yasuyuki Sawada (University of Tokyo), and Michio Suzuki (University of Tokyo)
Discussants:
David Vera (Fresno State University)
Mark Spiegel (Federal Reserve Bank of San Francisco)
12:00-1:00 Lunch
1:00-2:15 Session III:
"Lending to Unhealthy Firms in Japan during the Lost Decade: WTF", Suparna Chakraborty (University of San Francisco) and Joe Peek(Federal Reserve Board)
Discussants:
Ayako Yasuda (University of California, Davis)
Satoshi Koibuchi (Chuo University)
Stanford Summer Juku 2013
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Stanford Summer Juku on Japanese Political Economy (SSJ-JPE)
August 19-22, 2013
Oksenberg Conference Room
Shorenstein Asia-Pacific Research Center, Stanford University
The Japan Studies Program at the Walter H. Shorenstein Asia-Pacific Research Center (S-APARC) at Stanford University is starting an exciting new program called Stanford Summer Juku (SSJ). In SSJ, researchers on Japanese politics and Japanese economy get together and discuss their research in a relaxed setting. In addition to presentation and discussion of research papers that is standard for any academic conference, SSJ is distinctive by setting aside ample time for informal discussions and interactions. We believe you will find this an excellent opportunity to expand your network of researchers on Japan in both political science and economics. We also hope that the interactions at SSJ will lead to some future collaboration among the participants.
Our inaugural meeting will be held at Stanford on August 19-22, 2013. The first two days will focus on research in political science/political economy and international relations, and the latter two days will focus on research in business and economics.
Finally, a little bit about the name of this program; Juku here does not refer to modern Japanese cram schools. What we have in mind is the private schools at the end of Edo period, which attracted young motivated students and ended up producing numerous leaders in the Meiji period. Our goal is to attract many young researchers who will go on to become leaders in the studies of Japanese politics and Japanese economy in the near future. We look forward to welcoming you to Stanford this summer.
Takeo Hoshi, Kenji E. Kushida, Phillip Lipscy
Report - Stanford Summer Juku 2013
Program
8/19/2013
8:30-9:00 Breakfast
9:00-9:15 Welcome: Gi-Wook Shin, (Director, Shorenstein APARC, Stanford University)
9:15-10:25 Session I:
"America's Role in Making Japan's Economic Miracle: New Evidence for a Landmark Case", Yusaku Horiuchi (Dartmouth College), Michael Beckley (Tufts University), and Jennifer M. Miller (Dartmouth College)
Discussants:
Amy Catalinac (Australian National University)
William Grimes (Boston University)
10:25-10:50 Break
10:50-12:00 Session II:
"The Electoral Politics of Energy", Phillip Lipscy (Stanford University)
Discussants:
Greg Noble (University of Tokyo)
Yusaku Horiuchi (Dartmouth College)
12:00-1:00 Lunch
1:00-2:10 Session III:
"Pork to Policy: The Rise of National Security in Elections in Japan", Amy Catalinac (Australian National University)
Discussants:
Saori Katada (University of Southern California)
Christiana Davis (Princeton University)
8/20/2013
8:30-9:15 Breakfast
9:15-10:25 Session I:
"The Politics of Commoditization in Information Communications Technology: Lessons from Japan's 'Galapagos' ICT Sector", Kenji E. Kushida (Stanford University)
Discussants:
Greg Noble (University of Tokyo)
Ulrike Schaede (University of California, San Diego)
10:25-10:50 Break
10:50-12:00 Session II:
"Private Money as Public Funds: Distributive Politics Under Austerity", Kay Shimizu (Columbia University)
Discussants:
Steve Vogel (University of California, Berkeley)
Jonathan Rodden (Stanford University)
12:00-1:00 Lunch
1:00-2:10 Session III:
"Asian Designs: Rising Powers and the Shaping of International Governance", Saadia Pekkanen (University of Washington)
Discussants:
William Grimes (Boston University)
Christina Davis (Princeotn University)
6:30 Group Dinner
8/21/2013
8:30-9:15 Breakfast
9:15-10:25 Session I:
"Trading Corporate Assets in Japan: An Event Study of Subsidiary Trades Among Listed Companies", Ulrike Schaede (University of California, San Diego) and Tatsuo Ushijima (Aoyama Gakuin University)
Discussants:
Robert Eberhart (Santa Clara University)
Ayako Yasuda (University of California, Davis)
10:25-10:50 Break
10:50-12:00 Session II:
"School Entry Cutoff Dates and the Timing of Births", Hitoshi Shigeoka (Simon Fraser University)
Discussants:
Karen Eggleston (Stanford University)
Toshiaki Iizuka (University of Tokyo)
12:00-1:00 Lunch
1:00-2:10 Session III:
"New Management at the Bank of Japan, End of the 'Independent' Bank of Japan and Implications for the Cencept of Central Bank Independence", Thomas F. Cargill (University of Nevada) and Jennifer Holt-Dwyer (Hunter College)
Discussants:
Helen Popper (Santa Clara University)
Ken Kuttner, (Williams College)
8/22/2013
8:30-9:15 Breakfast
9:15-10:25 Session I:
"Using Dynamic Electricity Pricing to Address Energy Crises: Evidence from Randomized Field Experiements", Koichiro Ito (Stanford University), Takanori Ida (Kyoto University), and Makoto Tanaka (GRIPS)
Discussants:
Masahiko Aoki (Stanford University)
Matthew Kahn (University of California, Los Angeles)
10:25-10:50 Break
10:50-12:00 Session II:
"Choice of Invoicing Currency: New evidence from a questionnaire survey of Japanese export firms", Satoshi Koibuchi (Chuo University), Takatoshi Ito (RIETI), Kiyotaka Sato (Yokohama National University), Junko Shimizu (Gakushuin University)
Discussants:
Katheryn Russ (University of California, Davis)
Mark Spiegel (Federal Reserve Bank of San Francisco)
12:00-1:00 Lunch
1:00-2:10 Session III:
"Banks restructuring sonata: How capital injection triggered labor force rejuvenation in Japanese banks", David Vera (California State University, Fresno), Kazuki Onji (Australian National University), Takeshi Osada (Bunri University of Hospitality)
Discussants:
Masami Imai (Wesleyan University)
Kelly Wang (Federal Reserve Board)
Political Leadership in Japan: Long Way toward a Westminster Model
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Japanese Prime Minister Shinzo Abe has just won another landslide victory from snap election last December. After two years of governance, his cabinet is still popular and powerful. There are high chances for him to accomplish tax reform and win the LDP presidential election this fall. The current political situation is often reported as “Prime Minister’s Office’s dominance” or “Abe dominates.” This Abe cabinet is becoming a sharp contrast to past six cabinets, including his own first cabinet. All six cabinets were short tenured, serving just for around a year, and prime ministers’ leadership were weak. Before these six prime minister, however, Junichiro Koizumi commanded strong power and leadership, succeeding in a series of reforms. Why do we witness two totally different outcomes of Japanese prime ministers’ power in the last decade?
In this presentation, Professor Takenaka gives an institutionalist explanation to this puzzle by examining the Japanese parliamentary system. To highlight its nature, he will make a brief comparison with the British system.
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He received a B.A. from the Faculty of Law of the University of Tokyo and an M.A. and Ph.D. in political science from Stanford University. He is the author of Failed Democratization in Prewar Japan: Breakdown of a Hybrid Regime, (Stanford University Press, 2014), and Sangiin to ha [What is House of Councillors], (Chuokoron Shinsha, 2010).
Philippines Conference Room
Encina Hall, 3rd Floor, Central
Harukata Takenaka
Professor, the National Graduate Institute for Policy Studies
Seminars
The Japanese Software Industry: What Went Wrong (and Why is it Important?)
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The Stanford Silicon Valley-New Japan Project
Public Forum Series with Networking
Speaker: Robert Cole (Bio)
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Tuesday, January 27, 2015
5:00 – 5:30 pm Networking
5:30pm - 7:00pm Lecture
Cypress Semiconductor Auditorium (CISX Auditorium)
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Public Welcome • Light Refreshments
The Silicon Valley - New Japan Project
Cypress Semiconductor Auditorium (CISX Auditorium)
Paul G. Allen Building, Stanford University
330 Serra Mall, Stanford CA 94305
https://www.google.com/maps?q=CISX+Cypress+Semiconductor+Auditorium@37.4295793,-122.1748332
Robert Cole
Professor Emeritus, Haas School of Business, University of California Berkeley
Seminars