Toshihiko Fukui

The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total…

— Toshihiko Fukui

They emphasize the viewpoint that the protracted economic stagnation in Japan derives from incomplete economic adjustments to significant changes in relative prices.

— Toshihiko Fukui

In this context, the current recovery in the Japanese economy is taking place in tandem with the growing interdependence with the rest…

— Toshihiko Fukui

Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate…

— Toshihiko Fukui

Thus, the questions we should ask here are what makes the current economic upswing different from the past two recoveries, and whether…

— Toshihiko Fukui

The aging and decreasing population is a serious problem in many developed countries today. In Japan's case, these demographic changes are taking…

— Toshihiko Fukui

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have…

— Toshihiko Fukui

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot…

— Toshihiko Fukui

The direct investment of Japanese businesses to East Asian economies accelerates the reallocation of their production bases. Consequently, between Japan and the…

— Toshihiko Fukui

The staff at the Institute will present an analysis on how asset price fluctuations and subsequent structural adjustments influence sustained economic growth,…

— Toshihiko Fukui

As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital…

— Toshihiko Fukui

During the past two decades, inflation has fallen to a low level in major industrial countries.

— Toshihiko Fukui

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

— Toshihiko Fukui

In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of…

— Toshihiko Fukui

The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers…

— Toshihiko Fukui

The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase immigration. The structure of family and society…

— Toshihiko Fukui