Stanford University

International Development

FSI researchers consider international development from a variety of angles. They analyze ideas such as how public action and good governance are cornerstones of economic prosperity in Mexico and how investments in high school education will improve China’s economy.

They are looking at novel technological interventions to improve rural livelihoods, like the development implications of solar power-generated crop growing in Northern Benin.

FSI academics also assess which political processes yield better access to public services, particularly in developing countries. With a focus on health care, researchers have studied the political incentives to embrace UNICEF’s child survival efforts and how a well-run anti-alcohol policy in Russia affected mortality rates.

FSI’s work on international development also includes training the next generation of leaders through pre- and post-doctoral fellowships as well as the Draper Hills Summer Fellows Program.

The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Rate Trap

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Japan's macroeconomic problem has yet to be properly diagnosed. Throughout the 1990s, policy makers could not decide on the proper macro economic measures to combat the country's severe economic slump. We propose a unified explanation, with deep historical roots, of why aggregate private demand failed to recover after Japan's stock and real estate bubbles burst in 1991 and deflationary pressure continues into the new millenium. Ron McKinnon is William D. Eberle Professor of International Economics at the Department of Economics, Stanford University. His research interests cover trade and financial policy in less-developed countries, the transition from socialism in Asia and Eastern Europe, the foreign exchange market and U.S.-Japan trade disputes, European monetary unification and international monetary reform, and the economics of market-preserving federalism. Rishi Goyal is a Ph.D graduate student in international economics working with Professor McKinnon on a Japan project--and will be writing his dissertation in this area. His undergraduate B.A. (with distinction) is from Swarthmore College in 1995. He expects to complete his Ph.D in 2001.

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

Ronald I. McKinnon

Shorenstein APARC
Stanford University
Encina Hall, Room E301
Stanford, CA 94305-6055

(650) 723-9741 (650) 723-6530
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William D. Eberle Professor of International Economics
R_McKinnon_headshot.jpg PhD

Ronald McKinnon is the William D. Eberle Professor of International Economics at Stanford University. Currently, he is researching trade and financial policy in less-developed countries, the transition from socialism in Asia and Eastern Europe, the foreign exchange market and U.S.-Japan trade disputes, European monetary unification and international monetary reform, and the economics of market-preserving federalism.

Recent books by McKinnon include The Order of Economic Liberalization: Financial Control on the Transition to a Market Economy, 2nd edition (1993); The Rules of the Game: International Money and Exchange Rates (1996); and Dollar and Yen: Resolving Economic Conflict between the United States and Japan (with K. Ohno, 1997). Recent (1997) articles include "Credible Liberalizations and International Capital Flows: The Overborrowing Syndrome" (with H. Pill); "The East Asian Dollar Standard, Life after Death?" (1999); and "The Syndrome of the Ever-Higher Yen: American Mercantile Pressure on Japanese Monetary Policy" (with K. Ohno and K. Shirono, 1999). McKinnon teaches international trade and finance, economic development, money and banking, and financial control in developing and transitional socialist economies.

Ronald I. McKinnon Professor Speaker
Rishi Goyal Graduate Student Speaker Department of Economics, Stanford University
Seminars

Political Change in Taiwan: Implications for American Policy

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Since 1997, Dr. Richard Bush has been the leadig on-site practitioner of US-Taiwan relations. He was appointed to the Board of the American Institute of Taiwan by Secretary of State Madeleine Albright, and named Chairman and Managing Dircetor at the same time. Prior to his appointment, he was staff to the International Relations Committee in the United States House of Representatives, and also served as National Intelligence Officer for East Asia. He holds a doctorate in political science from Columbia University.

Bechtel Conference Center

Dr. Richard Bush Chairman of the Board and Managing Director Speaker The American Institute in Taiwan
Workshops
Walter H. Shorenstein Forum for Asia Pacific Studies

Inter-Korean Relations: What Will Happen Next?

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In the midst of preparing for the upcoming Inter-Korea Summit in June, the South Korean government and many North Korea experts struggle with how to manage this historic opportunity for breakthrough in the Korean peninsula. What happened behind closed doors to reach this agreement to have the summit meeting and what uncertainties lie along the way? What issues will be discussed at the summit? What will some of the challenges be in the post-summit era, not only in inter-Korean relations but in neighboring countries' policies toward the Korean peninsula? These questions and more will be discussed during this seminar. Dr. Kil has worked for the last four years in the Washington bureau of the Korean newspaper, Joong Ang Ilbo, closely monitoring the U.S.-North Korea talks. He is currently on leave for research at the Tokyo Foundation. Dr. Kil has a Ph.D. in political science from Yale University.

AP Scholars Lounge, Encina Hall, South Wing, Third Floor

Jeong-Woo Kil Diplomatic Correspondent and Columnist Speaker Joong Ang Ilbo
Seminars

Peri-Urbanization in Chengdu, Western China: From "Third Line" to Market Dynamics

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Peri-urbanization in the Chengdu extended urban region is the subject of this discussion paper. Characteristics of peri-urbanization processes in East Asia in general, and China in particular, have been described in previous outputs of the Asia-Pacific Research Center (Shorenstein APARC) and Institute of Geographical Science and Natural Resource Research (IGSNRR) research team. In a nutshell, peri-urbanization refers to the dynamic process of physical and socioeconomic change beyond the contiguously built-up areas of large cities. In East Asia, the process is usually driven by investment (foreign and domestic) in manufacturing. Development in the Chengdu peri-urban region (and in Chongqing) has taken a very different route to date than in coastal China, the subject of previous research by our Urban Dynamics of East Asia Project.

The Chengdu region, in the past, has been shaped to a greater extent by state-owned enterprises (SOEs) and explicit national spatial policy than has the coastal region. It has been significantly influenced by the "Third Line" development program, which Mao Zedong initiated in the 1960s to protect industries strategic to national defense by locating them in interior western China. Starting in the late 1970s, the movement of "Third Line" firms from extremely remote locations to more central locations drove the development of the ring of peri-urban satellite cities around Chengdu. Unlike other western Chinese cities, the Chengdu peri-urban region was the location of considerable Township and Village Enterprise (TVE) development for a twenty-year period, also beginning in the late 1970s. However, over time, market forces have become the dominant force shaping the development of Chengdu, not unlike coastal cities, albeit with a lag effect.

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Douglas Webster
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1-931368-05-8

Opening Up to the World: India's Pharmaceutical Companies Prepare for 2005

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In 2005, India will implement new intellectual property (IP) laws that recognize product patents on pharmaceuticals. Because India's 1970 Patent Act only recognizes process patents, Indian drug companies have been free to copy molecules from multinational companies (MNCs), to sell within India and other nonpatent conforming markets. New laws, such as the Exclusive Marketing Rights amendment to the 1970 Patent Act (ratified on April 19, 1999), will substantially alter this practice. This paper discusses what companies are doing to prepare for 2005 and beyond. As is the case today, Indian and MNCs alike will figure prominently in the future of the pharmaceutical sector, albeit in somewhat altered form. Although the new patent regime has the potential to reward MNCs at the expense of Indian firms, local companies will likely benefit from stricter laws. In fact, it is plausible that the 2005 laws will vault some Indian pharmaceutical companies into globally prominent positions.

Preface by Henry S. Rowen and Naushad Forbes.

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Ken-ichi Imai

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Senior Fellow emeritus by courtesy, FSI
KI_Imai_headshot.jpg PhD

Ken-ichi Imai is an internationally recognized expert on the economics and management of the firm, industrial organization and the economics of technological change and innovation. After receiving his Ph.D. from Hitotsubashi University, Imai went on to become an assistant professor, full professor and, eventually, Dean of the Graduate School of Business at Hitotsubashi.

In September 1991, he assumed the role of Director of Research at the Stanford Japan Center, stepping down in 2001. He was also named a senior fellow of IIS and a professor, by courtesy, of Stanford's Department of Economics, in 1991. In December 1991, he became chair of the Stanford Japan Center Foundation Board. Imai has been influential in both Japanese and international policymaking. In Japan, he has been actively involved in the development of national industrial policy at the level of MITI's Industrial Structure Consultative Council. Abroad, as a member of the drafting committee for the OECD's Technology, Economy and Policy Project, he has participated in discussions on the rules of conduct for multinational enterprises and global industry.

Imai has published widely in Japanese and English, and many of his books and papers have received prizes in Japan. His Industrial Organization of Japan's Energy Sector (in Japanese) was awarded the Economist Prize, and his Modern Industrial Organization (in Japanese) received the Nikkei Prize for Excellent Books in Economic Science. In addition, the Japanese government awarded its Prize for Social Science Research in Telecommunications to Imai's Industrial Society - The Process of its Evolution and Change (in Japanese). His Information Network Society (in Japanese) became a "long-seller" in Japan in 1984. As director of SJC-R, Professor Imai actively promoted collaborative research between the United States and Japan. For this purpose, he has organized and hosted a number of international forums, including: "A New Techno-Economic Paradigm for the 21st Century "The Age of New Engineering"; "Sensors, Information and Global Ecosystems"; "The Roles of Government in Economic Development: Analysis of East Asian Experiences" (sponsored by the World Bank); and the "Future of the Computer Industry". In Spring 1995, the Crown Prince of Japan awarded Professor Imai the government's Purple Ribbon for his cumulative academic and social contributions.

Director Emeritus, SJC-R
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1999-2000 Visiting Fellows' Research Presentations (session 2)

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12.00 p.m. Mr. Noriaki OZAWA (Ministry of International Trade and Industry, Japan) What is Japan? A Look at Japan's Changing Sociocultural Identity. 12.20 p.m. Mr. Nobutake SHIRAI (Ministry of Post and Telecommunications, Japan) Internet Business in U.S. and Japan: A Comparative Study. 12.40 p.m. Mr. Raita SUGIMOTO (Toyota Motor Corporation, Japan) Reorganization of the Automobile Industry and its Impact on the Asian Market. 1.00 p.m. Mr. Takeo TAKIUCHI (The Patent Office, Japan) Entrepreneurship through Technology Transfer in Silicon Valley. 1.20 p.m. Mr. Kenji UCHIDA (The Kansai Electric Power Co., Inc., Japan) Setting Up New Ventures In-house at Kansai Electric Power Company. 1.40 p.m. Mr. Zhi-Jie ZENG (CITIC Pacific, Hong Kong) China's WTO bid and the Effect on China's Internet Business. Research Introductions: Mr. Yong-Ky EUM (Hyundai Heavy Industry, Korea) Mr. Jiang FENG (People's Bank of China, PRC) Ms. Xiaohui ZHANG (People's Bank of China, PRC)

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

Seminars

1999-2000 Visiting Fellows' Research Presentations (session 1)

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12.00 p.m. Mr. Hiroyuki FUNAGURA (Toyobo Co., Ltd., Japan) Digital Subscriber Line Research. 12.15 p.m. Ms. Reiko HAYASAKA (Sankei Shimbun, Japan) The Outlook of the Japanese Press Club. 12.30 p.m. Mr. Toshiya KOINUMA (Asahi Shimbun, Japan) Open Source Software Development and its Influence on the Software Industry. 1.00 p.m. Mr. Hidenori MITSUI (Ministry of Finance, Japan) Comparison of American and Japanese Law Fundamentals: Focusing on Tax Law. 1.20 p.m. Mr. Yoshihiko MURASAWA (The Tokyo Electric Power Co., Inc., Japan) Decision-Making Systems of Building Nuclear Power Stations in Japan. 1.40 p.m. Mr. Kiyoshi NOGUCHI (Yomiuri Shimbun, Japan) The Future of Japanese E-commerce.

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

Seminars

Database Protection Laws in Japan

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TBD

Kenji Inoue Fellow Speaker Stanford Program in International Legal Studies
Seminars
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