At the forefront of growth and development in Asia and the Pacific

Naoyuki Yoshino, Dean, ADBI

Naoyuki Yoshino

Dean Yoshino is the chief executive officer of the ADBI and has responsibility under the direction of the ADB President for the management of the Institute.

Naoyuki Yoshino is Dean of the Asian Development Bank Institute (ADBI) and Professor Emeritus at Keio University, Tokyo, Japan. He obtained his PhD from Johns Hopkins University (United States) in 1979 where his thesis supervisor was Sir Alan Walters, economic adviser to former British Prime Minister Margaret Thatcher. Naoyuki has been a visiting scholar at the Massachusetts Institute of Technology (United States) and a visiting professor at various universities including the University of New South Wales (Australia), Fondation Nationale des Sciences Politiques (France), and University of Gothenburg (Sweden). He has also been an assistant professor at the State University of New York at Buffalo and an economics professor at Keio University.

Naoyuki's professional career includes membership in numerous government committees. He was named Director of the Japan Financial Services Agency's (FSA) Financial Research Center (FSA Institute) in 2004 and is now Chief Advisor. He was appointed as Chair of the Financial Planning Standards Board in 2007. He has served as Chairperson of the Japanese Ministry of Finance's Council on Foreign Exchange as well as its Fiscal System Council (Fiscal Investment and Loan Program Section). Additionally, he has been a Board Member of the Deposit Insurance Corporation of Japan and President of the Financial System Council of the Government of Japan.

He was nominated for inclusion in Who's Who in the World for 2009 and 2013, and was named one of the Top 100 Educators in 2009. He obtained honorary doctorates from the University of Gothenburg (Sweden) in 2004 and Martin Luther University of Halle-Wittenberg (Germany) in 2013. He also received the Fukuzawa Award in 2013 for his contribution to research on economic policy.

Pages

An impact evaluation of investment in infrastructure: The case of a rail way connection in Uzbekistan

N.Yoshino, U. Abidhadjaev, Journal of Asian Economics, 49, 1-11, 2017

Finding stability in a time of prolonged crisis: Unconventional policy rules for Japan

PD McNelis, N Yoshino, Journal of Financial Stability 27, 122-136, 2016

Decline in Oil Prices and the Negative Interest Rate Policy in Japan

N Yoshino, F Taghizadeh Hesary, Asian Development Review, Vol. 33 (2), 2016

Comments by Naoyuki Yoshino, on Gains from Trade Liberalization between Heterogeneous Countries: Implications for the Korea-Japan FTA

N Yoshino, ASIAN ECONOMIC PAPERS 15 (3), 167-168, 2016

Small and Medium-Sized Enterprise (SME) Credit Risk Analysis Using Bank Lending Data: An Analysis of Thai SMEs

N Yoshino, F Taghizadeh-Hesary, P Charoensivakorn, B Niraula
Journal of Comparative Asian Development 15 (3), 383-406, 2016

BOOK chapter: Corporations and Monetary Policy in Japan, N Yoshino

Financial Stability in a Changing Environment, 209, 2016

Dynamic effects of changes in the exchange rate system

N Yoshino, S Kaji, T Asonuma, Asian Development Review, 2016

Book: Policies to Enhance SME Internationalization

P Vandenberg, N Yoshino, A Goto, P Intarakumnerd, J Miyamoto
INTEGRATING SMEs INTO GLOBAL VALUE CHAINS, 117, 2016

Causes and Remedies of the Japan's Long-lasting Recession: Lessons for China

N Yoshino, F Taghizadeh-Hesary
China & World Economy 24 (2), 23-47, 2016

Book: Promoting Better Lifetime Planning Through Financial Education

N Yoshino, FA Messy, PJ Morgan
World Scientific, 2016

Response of macro variables of emerging and developed oil importers to oil price movements

F Taghizadeh-Hesary, N Yoshino, M Mohammadi Hossein Abadi, ...
Journal of the Asia Pacific Economy 21 (1), 91-102, 2016

Exchange rate regime switching in Malaysia and Singapore in response to China’s move to a basket peg: A DSGE analysis

N Yoshino, S Kaji, T Asonuma, Journal of Asian Economics 46, 17-37, 2016

Book: Role of the Credit Risk Database in Developing SMEs in Japan: Ideas for Asia

S Kuwahara, N Yoshino, M Sagara, F Taghizadeh-Hesary
SMEs, 297, 2016

Monetary Policy, Oil Prices and the Real Macroeconomic Variables: An Empirical Survey on China, Japan and the United States

F Taghizadeh-Hesary, N Yoshino
China: An International Journal 14 (4), 46-69, 2016

Impact of oil price fluctuations on an energy-exporting economy: Evidence from Russia

N Yoshino, V Alekhina
Journal of Administrative and Business Studies 2 (4), 156-166, 2016

Book: A Simple Model of Housing Policies

N Yoshino, M Helble, T Aizawa
THE HOUSING CHALLENGE IN EMERGING ASIA, 17, 2016

Explicit and Implicit Analysis of Infrastructure Investment: Theoretical Framework and Empirical Evidence

N Yoshino, U Abidhadjaev
American Journal of Economics 6 (4), 189-199, 2016

Changes in Economic Effect of Infrastructure and Financing Methods

M Nakahigashi, N Yoshino
Public Policy Review 12 (1), 47-68, 2016

Book: Introductory Remarks: What’s Behind the Recent Oil Price Drop?

N Yoshino, F Taghizadeh-Hesary
Monetary Policy and the Oil Market, 1-5, 2016

Book: How Did Monetary Policy Inflate Oil Prices Following the Subprime Mortgage Crisis?

N Yoshino, F Taghizadeh-Hesary
Monetary Policy and the Oil Market, 55-73, 2016

Book: Macroeconomic Impacts of Oil Price Fluctuations in a Trade Linked Case

F Taghizadeh-Hesary, N Yoshino, G Abdoli, A Farzinvash
Monetary Policy and the Oil Market, 107-129, 2016

Book: Economic Impacts of Oil Price Fluctuations in Developed and Developing Economies

F Taghizadeh-Hesary, N Yoshino, A Assari-Arani
Monetary Policy and the Oil Market, 75-91, 2016

Book: Impact of Expansionary Monetary Policy on Crude Oil Prices

F Taghizadeh-Hesary, N Yoshino
Monetary Policy and the Oil Market, 7-27, 2016

Book: Monetary Policy in the Japanese Economy Incorporating Energy Prices

N Yoshino, F Taghizadeh-Hesary
Monetary Policy and the Oil Market, 93-106, 2016

Book: Which side of the economy is affected more by oil prices: Supply or demand?

F Taghizadeh-Hesary, N Yoshino
Monetary Policy and the Oil Market, 29-53, 2016

Analysis of credit ratings for small and medium-sized enterprises: Evidence from Asia

N Yoshino, F Taghizadeh-Hesary
Asian Development Review, 2015

Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia

N Yoshino, S Kaji, T Asonuma
Journal of International Commerce, Economics and Policy 6 (03), 1550015, 2015

Dynamic analysis of the exchange rate regime: Policy implications for emerging countries in East Asia

N Yoshino, S Kaji, T Asonuma
Review of Development Economics 19 (3), 624-637, 2015

Book: Small Savings Mobilization and Asian Economic Development: The Role of Postal Financial Services

MJ Scher, N Yoshino
Routledge, 2015

Effectiveness of the easing of monetary policy in the Japanese economy, incorporating energy prices

N Yoshino, F Taghizadeh-Hesary
Journal of Comparative Asian Development 14 (2), 227-248, 2015

Discussion Paper: The Credit Guarantee System and Policy-based Finance for Small-and Medium-sized Enterprises and a Database of Small-and Medium-sized Enterprises (Japanese)

Y Naoyuki, Policy Discussion Papers (Japanese), METI, 2015

BOOK: SMEs Internationalization and Finance in Asia

N Yoshino, G Wignaraja
Frontier and Developing Asia: Supporting Rapid and Inclusive Growth IMF-JICA ..., 2015

Book: Monetary Policy and the Oil Market

N Yoshino, F Taghizadeh-Hesary
Springer Verlag, Japan, 2015

Determining the optimal structure of government debt in Indonesia

AD Prasetyo, N Yoshino
Global Business and Economics Review 17 (4), 445-466, 2015

Macroeconomic effects of oil price fluctuations on emerging and developed economies in a model incorporating monetary variables

FF Taghizadeh-Hesary
Economics and Policy of Energy and the Environment, 2015

Summary of General Discussion on" Motivations for Bilateral Aid Allocation in Korea: Humanitarian, Commercial, or Diplomatic?"

N Yoshino, Yingqi
ASIAN ECONOMIC PAPERS 14 (1), 201-201, 2015

BOOK: Financial Inclusion and Financial Education

T Watanagase, N Yoshino, T Furusawa, P Morgan, V Pontines, ...
Financial System Stability, Regulation, and Financial Inclusion, 69-94, 2015

Analytical framework on credit risks for financing small and medium-sized enterprises in Asia

N Yoshino, F Taghizadeh-Hesary
Asia-Pacific Development Journal 21 (2), 1-21, 2014

An analysis of challenges faced by Japan’s economy and Abenomics

N Yoshino, F Taghizadeh-Hesary
The Japanese Political Economy 40 (3-4), 37-62, 2014

Response of stock markets to monetary policy: The Tehran stock market perspective

N Yoshino, F Taghizadeh-Hesary, A Hassanzadeh, AD Prasetyo
Journal of Comparative Asian Development 13 (3), 517-545, 2014

The sovereign debt crisis: why Greece, but not Japan?

N Yoshino, U Vollmer
Asia Europe Journal 12 (3), 325-344, 2014

International comparison of bubbles and bubble indicators

N Yoshino, T Nakamura, Y Sakai
AI & society 29 (3), 427-434, 2014

Conference: Agricultural Financing in Asian Countries

N YOSHINO, Y Jinjarak
Presentation at the International Conference on the Most Important Reserves ..., 2014

Dynamic transition of exchange rate regime in China

N Yoshino, S Kaji, T Asonuma
China & World Economy 22 (3), 36-55, 2014

Monetary policies and oil price determination: An empirical analysis

F Taghizadeh Hesary, N Yoshino
OPEC Energy Review 38 (1), 1-20, 2014

Economic impacts of oil price fluctuations in developed and emerging economies

N Yoshino, F Taghizadeh-Hesary
IEEJ Energy Journal 9 (3), 58-75, 2014

Monetary policy and oil price fluctuations following the subprime mortgage crisis

N Yoshino, F Taghizadeh–Hesary
International Journal of Monetary Economics and Finance 7 (3), 157-174, 2014

The basket-peg, dollar-peg, and floating: A comparative analysis

N Yoshino, S Kaji, A Suzuki
Journal of the Japanese and International Economies 18 (2), 183-217, 2004

Book: Postal savings and fiscal investment in Japan: the PSS and the FILP

TF Cargill, N Yoshino
Oxford University Press on Demand, 2003

The current state of the Japanese economy and remedies

N Yoshino, E Sakakibara
Asian Economic Papers 1 (2), 110-126, 2002

The tax system and the fiscal investment and loan program

S Ogura, N Yoshino
The Japanese Economy: Technology, foreign investment and competition ..., 1998

An Expanded Equation'Approach to Weak-Exogeneity Tests in Structural Systems and a Monetary Application

NS Revankar, N Yoshino
The Review of Economics and Statistics, 173-177, 1990

The postal savings system, fiscal investment and loan program, and modernization of Japan’s financial system

TF Cargill, N Yoshino
Crisis and change in the Japanese Financial System, 201-230, 2000

On the economic interdependence between China and Japan: Challenges and possibilities

CG Alvstam, P Ström, N Yoshino
Asia Pacific Viewpoint 50 (2), 198-214, 2009

An empirical analysis of Japanese banking behavior in a period of financial instability

N Revankar, N Yoshino
Keio economic studies 45 (1), 1-15, 2008

An estimation of the impact of oil shocks on crude oil exporting economies and their trade partners

FT Hesary, N Yoshino, G Abdoli, A Farzinvash
Frontiers of Economics in China 8 (4), 571-591, 2013

The role of public works in the political business cycle and the instability of the budget deficits in Japan

N Yoshino, T Mizoguchi
Asian Economic Papers 9 (1), 94-112, 2010

Global imbalances and the development of capital flows among Asian countries

N Yoshino
OECD Journal: Financial Market Trends 2012 (1), 81-112, 2012

Pro-cyclicality of the Basel Capital Requirement Ratio and Its Impact on Banks

N Yoshino, T Hirano
Asian Economic Papers 10 (2), 22-36, 2011

Economic Effects of Infrastructure-Japan's Experience after World War II

N Yoshino, M Nakahigashi
JBIC REVIEW 3 (3), 3-19, 2000

The Economic effect of public investment

N Yoshino, T Nakajima
Nihon Hyoron Sha (in Japanese), 1999

The background of hometown investment trust funds

N Yoshino
Hometown Investment Trust Funds, 1-13, 2013

Policy challenges and the reform of postal savings in Japan

MJ Scher, N Yoshino
Scher and Yoshino, eds., Small Savings Mobilization and Asian Economic ..., 2004

Choices of optimal monetary policy instruments under the floating and the basket-peg regimes

N Yoshino, S Kaji, T Asonuma
The Singapore Economic Review 57 (04), 1250024, 2012

Empirical analysis of oil price determination based on market quality theory

TH Farhad, N Yoshino
Keio/Kyoto Joint Global COE Discussion Paper Series, 2013

Counter-cyclical buffer of the Basel Capital requirement and its empirical analysis

N Yoshino, T Hirano
Current developments in monetary and financial law, IMF , 417-429, 2013

Small Savings Mobilization and Asian Economic Development: The Role of Postal Financial Services

MJ Scher, N Yoshino
Routledge, 2015

Japanese financial service firms in East and Southeast Asia: Location pattern and strategic response in changing economic conditions

P Ström, N Yoshino
Asian business & management 8 (1), 33-58, 2009

Macroeconomic volatility under high accumulation of government debt: lessons from Japan

PD McNELIS, N Yoshino
Advances in Complex Systems 15 (supp02), 1250057, 2012

Optimal premiums for the deposit insurance system: An empirical work on the deposit insurance system of Japan

N Yoshino, F Taghizadeh-Hesary, F Nili
Keio Economic Studies Discussion Paper, 2013

Exploring the use of revenue bond for infrastructure financing in Asia

S Hyun, T Nishizawa, N Yoshino
JBIC Institute Discussion Paper, 2008

The optimal weight and composition of a basket currency in Asia% the implications of asymmetry

N Yoshino, S Kaji, T Asonuma
SCMS Journal of Indian Management 2 (4), 74, 2005

The Optimal Exchange Rate System in a Model of Two Countries with the Rest of the World: A Comparative Analysis of the Fixed Exchange Rate, Basket-Peg and Flexible Exchange Rate Regimes

N Yoshino, S Kaji, T Asonuma
Keio Economic Studies 41 (2), 27-75, 2004

A comparative analysis of exchange rate regimes

N Yoshino, S Kaji, A Suzuki
Exchange Rate Regimes and Macroeconomic Stability, 107-131, 2003

The stabilization of an open economy with capital controls: an analysis using Malaysian data

N Yoshino, S Kaji, Y Ibuka
Asian Economic Papers 2 (3), 63-83, 2003

Choices of optimal monetary policy instruments under the floating and the basket-peg regimes

N Yoshino, S Kaji, T Asonuma
The Singapore Economic Review 57 (04), 1250024, 2012

Global imbalances and the development of capital flows among Asian countries

N Yoshino
OECD Journal: Financial Market Trends 2012 (1), 81-112, 2012

China's Inflation: Demand-Pull or Cost-Push? Comments

N Yoshino
ASIAN ECONOMIC PAPERS 11 (3), 110-111, 2012

Macroeconomic volatility under high accumulation of government debt: lessons from Japan

PD McNELIS, N Yoshino
Advances in Complex Systems 15 (supp02), 1250057, 2012

KEIO/KYOTO JOINT GLOBAL CENTER OF EXCELLENCE PROGRAM

N Yoshino, S Kaji, T Asonuma

Dynamic Effect of Change in Exchange Rate System% From the Fixed Exchange Rate Regime to the Basket% peg or Floating Regime

N Yoshino, S Kaji, T Asonuma
Keio/Kyoto Joint Global COE Discussion Paper, 2011

Pro-cyclicality of the Basel Capital Requirement Ratio and Its Impact on Banks

N Yoshino, T Hirano
Asian Economic Papers 10 (2), 22-36, 2011

Japanese Banks' Decision Making Process in SME Lending: An analysis of the SME database and the utilization of investment and trust funds for SME financing (Japanese)

Y Naoyuki
Research Institute of Economy, Trade and Industry (RIETI) Discussion Papers ..., 2011

Macroeconomic Dynamics Under High Accumulation of Government Debt: Lessons from Japan

PD McNelis, N Yoshino

Fiscal Stability, the Infrastructure Revenue Bonds and Bank Based Infrastructure Funds for Asia

N Yoshino, T Hirano
GEM Working Paper, 2010

Financing transport infrastructure development in Southeast Asia

N Yoshino
Southeast Asian Economic Outlook, 2010

The Accumulation of Budget Deficit and The New Stability Condition for the Government Bond Market

N Yoshino, T Mizoguchi

The role of public works in the political business cycle and the instability of the budget deficits in Japan

N Yoshino, T Mizoguchi
Asian Economic Papers 9 (1), 94-112, 2010

On the economic interdependence between China and Japan: Challenges and possibilities

CG Alvstam, P Ström, N Yoshino
Asia Pacific Viewpoint 50 (2), 198-214, 2009

Choices of optimal policy instruments under the floating and the basket% peg regimes KES Discussion Paper No. 07% 13

N Yoshino, S Kaji, T Asonuma

Japanese financial service firms in East and Southeast Asia: Location pattern and strategic response in changing economic conditions

P Ström, N Yoshino
Asian business & management 8 (1), 33-58, 2009

The optimal Basel capital requirement to cope with pro-cyclicality: A theoretical approach

N Yoshino, T Hirano, K Miura
Financial Services Agency, Government of Japan, 2009

Simple rule for basket weight under basket% peg regime (Preliminary and Incomplete)

N Yoshino, S Kaji, T Asonuma

Exploring the use of revenue bond for infrastructure financing in Asia

S Hyun, T Nishizawa, N Yoshino
JBIC Institute Discussion Paper, 2008

Simple rule for basket weight under basket peg regime

N Yoshino, S Kaji, T Asonuma

An empirical analysis of Japanese banking behavior in a period of financial instability

N Revankar, N Yoshino
Keio economic studies 45 (1), 1-15, 2008

Development of Infrastructure Bond Market in Asia: Feasibility of Asian Infrastructure Bond Fund

N Yoshino, S Nakagawa, S Hyun
Keio University COE Project Discussion Paper Series DP2007-001, 2007

Comments on “Overview of the Japanese Deficit Question”

DE Weinstein, N Yoshino
Tackling Japan’s Fiscal Challenges, 22-29, 2006

The Small Business Financing and the Development of the Bond Market in Asia

N Yoshino, AS Shamsuddin
Emerging financial risks in East Asia 6 (4), 167, 2006

Small Savings Mobilization and Asian Economic Development: The Role of Postal Financial Services

AM Toyoda, MJ Scher, N Yoshino
Journal of East Asian Studies 5 (3), 528-531, 2005

Japan's monetary policy transition, 1955-2004

J Rhodes, N Yoshino
Econometrics Society, 2005

The optimal weight and composition of a basket currency in Asia% the implications of asymmetry

N Yoshino, S Kaji, T Asonuma
SCMS Journal of Indian Management 2 (4), 74, 2005

Local government finance in Japan: Can irresponsible borrowing be avoided?-Duisburger Arbeitspapiere zur Ostasienwirtschaft; 72 (2004)

N Yoshino, F Robaschik

Japan's Monetary Policy Transition, 1955-2004

N Yoshino, JR Rhodes
Econometric Society 2004 Far Eastern Meetings, 2004

The basket-peg, dollar-peg, and floating: A comparative analysis

N Yoshino, S Kaji, A Suzuki
Journal of the Japanese and International Economies 18 (2), 183-217, 2004

econstor

N Yoshino, F Robaschik

No. 72 (2004): Local government finance in Japan: Can irresponsible borrowing be avoided?

N Yoshino, F Robaschik

Local government finance in Japan: can irresponsible borrowing be avoided?

F Robaschik, N Yoshino
Univ., Fachbereich Wirtschaftswiss., 2004

Local government finance in Japan: Can irresponsible borrowing be avoided?

N Yoshino, F Robaschik
Duisburger Arbeitspapiere zur Ostasienwirtschaft, 2004

Deciphering the message in Japanese deflation dynamics

PD McNelis, N Yoshino
Asian Economic Papers 3 (2), 49-70, 2004

The Optimal Exchange Rate System in a Model of Two Countries with the Rest of the World: A Comparative Analysis of the Fixed Exchange Rate, Basket-Peg and Flexible Exchange Rate Regimes

N Yoshino, S Kaji, T Asonuma
Keio Economic Studies 41 (2), 27-75, 2004

Policy challenges and the reform of postal savings in Japan

MJ Scher, N Yoshino
Scher and Yoshino, eds., Small Savings Mobilization and Asian Economic ..., 2004

How to strengthen banks and develop capital markets in post-crisis Asia

N Yoshino
Keio University, 2003

The stabilization of an open economy with capital controls: an analysis using Malaysian data

N Yoshino, S Kaji, Y Ibuka
Asian Economic Papers 2 (3), 63-83, 2003

A comparative analysis of exchange rate regimes

N Yoshino, S Kaji, A Suzuki
Exchange Rate Regimes and Macroeconomic Stability, 107-131, 2003

Postal savings and fiscal investment in Japan: the PSS and the FILP

TF Cargill, N Yoshino
Oxford University Press on Demand, 2003

An Empirical Analysis of the Changes in the Government Agencies and The Postal Savings System in Japan

N Yoshino
경제연구 23 (2), 63-82, 2002

Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK Colin Mayer Koen Schoors 2 Yishay Yafeh 3

S Manigart, A Morrison, K Rydqvist, J Teranishi, N Yoshino

Published in Journal of Corporate Finance, 11, 586–608

S Manigart, A Morrison, K Rydqvist, J Teranishi, N Yoshino
Journal of Corporate Finance 11, 586-608, 2002

The current state of the Japanese economy and remedies

N Yoshino, E Sakakibara
Asian Economic Papers 1 (2), 110-126, 2002

Japan's new prime minister and the Postal Savings System

TF Cargill, N Yoshino
FRBSF Economic Letter, 2001

The Postal Savings System and the Fiscal Investment and Loan Program in Japan

TF Cargill, N Yoshino
New York and London: Oxford University Press, 2001

The Basket-peg, Dollar-peg and Floating: A Comparative Analysis of Exchange Rate Regimes

N Yoshino, S Kaji, A Suzuki

The postal savings system and Fiscal Investment and Loan Program in Japan: Financial liberalization, dilemmas, and solutions

TF Cargill, N Yoshino
manuscript, 2001

Economic Effects of Infrastructure-Japan's Experience after World War II

N Yoshino, M Nakahigashi
JBIC REVIEW 3 (3), 3-19, 2000

The Role of Infrastructure in Economic Development (Preliminary Version)

N Yoshino, M Nakahigashi
Unpublished manuscript, 2000

No. 54 (2000): Public Banking in Germany and Japan's Fiscal Investment and Loan Program: a Comparison

F Robaschik, N Yoshino

Public Banking in Germany and Japan's Fiscal Investment and Loan Program: a Comparison Duisburger Arbeitspapiere zur Ostasienwirtschaft; 54 (2000)

F Robaschik, N Yoshino

Public Banking in Germany and Japan's Fiscal Investment and Loan Program: A Comparison

F Robaschik, N Yoshino
Univ., Fachbereich Wirtschaftswiss., 2000

The Postal Savings System

TF Cargill, N Yoshino
Fiscal Invest, 2000

The postal savings system, fiscal investment and loan program, and modernization of Japan’s financial system

TF Cargill, N Yoshino
Crisis and change in the Japanese Financial System, 201-230, 2000

Window Guidance by the Bank of Japan: Was Lending Controlled?

JR Rhodes, N Yoshino
Contemporary Economic Policy 17 (2), 166-176, 1999

Ji-Sung Yoo, Hanyang University Advisory Board

O Galor, T Sawa, JP Cover, Y Kim, K Morimune, HS Shin, H Zang, ...

The Economic effect of public investment

N Yoshino, T Nakajima
Nihon Hyoron Sha (in Japanese), 1999

Too big for its boots

TF Cargill, N Yoshino
The Financial Regulator 3, 39-43, 1998

Choice of monetary policy instrument and the Keynesian multiplier

N Yoshino, S Kaji, K Kameda
Financial Review 45, 1998

5 The tax system and the fiscal investment and loan program

S Ogura, N Yoshino
The Japanese Economy: Technology, foreign investment and competition ..., 1998

Window Guidance by the Bank of Japan: Was Lending Controlled?

JR Rhodes, N Yoshino

Japan's Independence Day 64 The new independent central bank law attempts to restore consistency to Japan's monetary policy

N Yoshino
INTERNATIONAL ECONOMY 11, 52-64, 1997

Welfare and Competition under the Co‐Existence of Private Financial Institutions and Government Financial Institutions

N Yoshino, F Yasunori
Economic Review 47 (4), 313-323, 1996

Interregional distribution and productivity effect of public investment

N Yoshino, H Nakano
Financial Review 41, 16-26, 1996

An Empirical Analysis of Monetary Policy Reactions and Monetary Policy Instruments in Japan

N Yoshino, M Yoshimura
Keio Economic Society discussion paper series 9503, 1-30, 1995

Changing Behavior of Private Banks and Corporations and Monetary Policy in Japan

N Yoshino
Financial Stability in a Changing Environment, 209-277, 1995

A Simulation of the Macroeconomic Impact of ODA with the Debt Factor: The Philippine Experience

B Phelan, N Yoshino

An Empirical Analysis of the Properties of Non-life Insurance Market in Japan and Its Economies of Scale

N YOSHINO, K KAKU, T OKITA
三田學會雑誌 87 (3), 26-48, 1994

Monetary stabilization with interest rate instruments in Japan: A linear quadratic control analysis

PD McNelis, N Yoshino
Bank of Japan Monetary and Economic Studies 10, 79-106, 1992

History and the Role of Post Office Savings and the Role of Government Financing in Japan

N Yoshino
Keio University, Department of Economics, Tokyo. Processed, 1992

AnExpanded Equation'Approach to Weak-Exogeneity Tests in Structural Systems and a Monetary Application

NS Revankar, N Yoshino
The Review of Economics and Statistics, 173-177, 1990

Yoshiro Tsutsui, Financial Markets and Banking Business: Economic Analysis of Industrial Organization

N Yoshino
Economic Review 40 (4), 375-377, 1989

Emprical Study on the regional allocation of public capital

N Yoshino, Y Yoshida
ESP, 1988

Impacts of Accelerated Depreciation and Government Loan Programs on Japanese Industrial Structure

O Seiritsu, N Yoshino
Economic Review 36 (2), 110-120, 1985

JAPANESE AND UNITED-STATES INFLATION-A COMPARATIVE-ANALYSIS-LIN, CY

N YOSHINO
JOURNAL OF ECONOMIC LITERATURE 23 (3), 1212-1213, 1985

Zeisei to Zaisei toyushi

S Ogura, N Yoshino
Il sistema fiscale e il programma di prestiti e investimenti pubblici) in ..., 1984

A note on the optimal choice of monetary and fiscal policy

N Yoshino
Journal of Macroeconomics 4 (4), 459-468, 1982

Framework for analysis of the instrument problem in monetary theory

NS Revankar, N Yoshino
Economics Letters 9 (1), 49-55, 1982

Optimal choice of monetary and fiscal policy under uncertainty

N Yoshino
Johns Hopkins University, 1979

Optimal Choice of Macroeconomic Policy Under Uncertainty

N Yoshino
Johns Ropkins University, 1978

Fiscal Rules in a Time of Prolonged Crisis: Debt and Deficit Targeting in Japan

PD McNelis, N Yoshino
Growth 70, 16.23, 1955

The Optimal Weight and

N Yoshino, S Kaji, T Asonuma
speaks..., 74, 0

China’s Nonfinancial Corporate Debt Dynamics Yongding Yu, Ting Lu 1 China and Natural Resource Curse in Developing Countries: Empirical Evidence from a Cross-country Study Fubing Su, Guoxue Wei, Ran Tao 18

X Ji, S Rozelle, J Huang, L Zhang, T Zhang, Y Zhou, L Song, EM Cinar, ...

关键词: 日本经济 失去的十年 中国经济 IS-LM 模型中图分类号: F11 文献标识码: A 文章编号: 1006-1770 (2016) 07-016-07

N Yoshino, F Taghizadeh-Hesary

日本经济长期衰退的原因和对策

N Yoshino, F Taghizadeh-Hesary

Optimal Credit Guarantee Ratio: Evidence from Asia

N Yoshino, F Taghizadeh-Hesary

Infrastructure Finance, and SME Finance

N Yoshino

Characteristics of Asia Economy, Infrastructure Finance, SME Finance and the Bond Market of Indonesia

N Yoshino

Venture Business

N Yoshino, LT Gov Banks

Reviving Japan: Tackling Ageing Population Tackling Ageing Population and Need for Incentive Based Policies

N Yoshino

KEIO/KYOTO JOINT GLOBAL CENTER OF EXCELLENCE PROGRAM

AD Prasetyo, N Yoshino

Aging Population and Fiscal Stability condition faced with population Aging

N Yoshino, T Mizoguchi, F Taghizadeh-Hesary

Economic Effect of Infrastructure: macroeconomic effects and microeconomic effects

N Yoshino, M Nakahigashi, V Pontines, U Abidhadjaev

Past Crisis Experience for Asia------Banking Behavior and the Asset Bubble-----Preliminary version, May 1-2012

N Yoshino, T Nakamura, Y Sakai

Center for Economic Institutions

N Yoshino, S Kaji, A Suzuki

Optimal premiums for the deposit insurance system: an empirical work on the deposit insurance

吉野, 直行
Journal of Banking and Finance 10 (2), 203-218, 0

Fair Premium Rate for the Deposit Insurance System: An Empirical Example of Japan

N Yoshino, F Taghizadeh-Hesary, F Nili

Optimal Fiscal Policy Rule to achieve Fiscal Sustainability and Economic Growth

N Yoshino, T Mizoguchi

An Analysis of Government Bond Market and The New Stability Condition for the Sovereign Bond Market

N Yoshino, T Mizoguchi

Bubble Experience of Japan, Post Bubble Economic Policy and Infrastructure Financing in Asia

N Yoshino

Comments What has G20 delivered so far

N Yoshino

AN EMPIRICAL ANALYSIS OF JAPANESE BANKING BEHAVIOR IN A PERIOD OF FINANCIAL INSTABILITY

N YOSHINO

Asia's Financial Market, Deposit Insurance and Safety Net for Insurance & Securities

N YOSHINO

Past Crisis Experience and Its lessons for Asia

N Yoshino, T Nakamura, Y Sakai

The Instability of the Budget Deficits and Its’ Impact on Capital Market in Japan

N Yoshino, T Mizoguchi

24 August 2017 International remittances and poverty reduction - Asia Pathways

The World Bank (2014) estimates that international remittances to developing countries reached $436 billion in 2014. Remittances to the East Asia and the Pacific region and the South Asia region account for the largest and second-largest shares in the world.

12 July 2017 Pointers from Asia for urbanization in Africa - Asia Pathways

Africa and Asia are latecomers to urbanization. In these two continents, less than half live in urban centers, while elsewhere, more than 70% of people do. But Africa and Asia are now rapidly urbanizing, with Asian cities growing at an average of 1.5% per year and Africa’s at 1.1% per year.

25 June 2017 Asiantuntija: Eurooppa voi ottaa oppia Japanin menetetyistä vuosikymmenistä (Europe can learn from Japan's lost decades) - Taloussanomat
An interview by Aleksi Mustonen for the Finnish newspaper Taloussanomat. Click here for the English translation.

Japan, which experienced a banking crisis in the 1990s, has been suffering from a recession for decades. Europe can learn a lot about the lost decades of Japan, especially the constraints on financial and monetary policy, says the dean of the Asian Development Bank Institute, Naoyuki Yoshino.

25 May 2017 Kick-start private infrastructure with future tax-sharing bonds - Asia Pathways

Everybody from President Trump to the Global Infrastructure Forum is trying to think of innovative ways to attract long-term private and institutional investors to pay for the huge and largely unmet demand for new highways, railways, and dams.

5 April 2017 Hometown investment trust funds: A sustainable solution for financing green energy projects - Asia Pathways

The Fukushima Daiichi nuclear disaster was an energy accident at the Fukushima No. 1 Nuclear Power Plant in Fukushima, Japan, initiated primarily by the tsunami that followed the Tohoku earthquake on 11 March 2011 and led to a nuclear shutdown in the country. Japan substituted the loss of nuclear power with fossil fuels, such as oil, gas, and coal, and became more dependent on their imports and consumption.

21 February 2017 Open markets key to Asian growth - China Daily

The United Kingdom’s vote to exit the European Union and the election of Donald Trump as president of the United States are clear manifestations of a backlash against globalization in some advanced economies. The benefits of economic integration and globalization are increasingly being questioned.

3 February 2017 How to get cash into Asian infrastructure the ADBI way - Asia Times

Naoyuki Yoshino, the dean of the Tokyo-based Asian Development Bank Institute, or ADBI, explains a method he’s promoting to try and boost investment in roads, bridges, train systems and other infrastructure projects across Asia. The key is making projects attractive to private investors by offering new means to boost returns.

18 November 2016 Overcoming Asia’s housing challenge - Asia Pathways

Asia is urbanizing rapidly. Currently, about half of all of its residents live in urban areas, and the number of urban residents in Asia is expected to reach 3.3 billion by 2050. The Asian Development Bank Institute (ADBI) estimated that at the current urbanization rate, 127,000 people are added to urban centers every day in Asia.

19 October 2016 Assessing policies to promote financial inclusion, regulation, and education in emerging Asia - Asia Pathways

Financial inclusion has been receiving increasing attention for its potential to contribute to economic and financial development while fostering more inclusive growth and greater income equality. There are numerous arguments in favor of increasing financial inclusion, and a large body of evidence shows that increased financial inclusion can significantly reduce poverty and boost shared prosperity. Greater access to financial services by households can help smooth consumption, ease cash shortages, and increase savings for retirement and other needs, although the evidence on microfinance is less positive.

25 August 2016 Decline of oil prices and the negative interest rate policy in Japan - Asia Pathways

In February 2016, the Bank of Japan (BOJ), in order to reach a 2% inflation target, initiated a negative interest rate policy by increasing massive money supply through the purchase of long-term Japanese government bonds (JGBs). This policy flattened the yield curve of JGBs. Banks started to purchase government bonds less frequently, because of the negative yield for both short-term government bonds and even for long-term government bonds up to 15 years.

24 August 2015 Reasons Behind Oil Price Plunge - Financial Tribune

The price of oil has more than halved in less than 11 months since September 2014. After nearly five years of stability, the price of a barrel of Brent crude in Europe fell from over $100 on September 2014 to less than $49 on August 2015.

13 August 2015 Asian growth holds opportunities for Pacific Nations - Nikkei

Economic links between Asia and the Pacific have been intensifying in recent years. Trade in goods between the two regions increased from around $2 billion in 2000 to over $20 billion in 2013, driven mainly by a surge in imports from Asia.

5 August 2015 Impact of universal health coverage: A micro-founded macroeconomic perspective - Asia Pathways

Universal health coverage (UHC) has become a key agenda of policy makers in many countries. According to the definition of the World Health Organization (2010), UHC is the goal that “all people have access to health services and do not suffer financial hardship in paying for them.” In most developing countries, the goal of UHC is not easy to reach due to the fact that large, resource-poor populations have limited access to health services.

31 July 2015 Importance of SMEs in the Thai economy - Asia Pathways

Small and medium-sized enterprises (SMEs) play a significant role in the Thai economy. In 2012 there were 2.7 million SMEs in Thailand (see Figure 1) comprising 98.5% of total enterprises. In the same year, SMEs accounted for 37.0% of gross domestic product (GDP) and 80.4% of the workforce. Thai SMEs also contributed to 28.8% of total exports and 31.9% of total imports by value in 2012.

26 June 2015 Impacts of oil prices on emerging and developed economies - Asia Pathways

In recent years, the sharp increase in oil prices that began in 2001 and the two sharp declines that followed in 2008, due to the subprime mortgage crisis, and at the end of 2014–early 2015 have renewed interest in the effects of oil prices on the macro economy.

3 June 2015 Currency arrangements in the Pacific—time to re-think? - Asia Pathways

The Pacific developing member countries (DMCs) of the Asian Development Bank are a heterogeneous group of economies with different levels of economic development and economic size. However, when it comes to choosing an optimal exchange rate, the Pacific DMCs face similar challenges.

12 May 2015 The necessity of developing SME databases in Asian economies - Asia Pathways

Considering the importance of small and medium-sized enterprises (SMEs) for employment and GDP and the number of such firms in Asian countries, further efforts need to be made to offer SMEs access to finance.

23 February 2015 What’s behind the recent oil price drop? - Asia Pathways

The price of oil has more than halved in the period of less than 5 months since September 2014. After nearly 5 years of stability, the price of a barrel of Brent crude oil in Europe fell from $117.15 on 6 September 2014, to $45.13 on 14 January 2015.

20 February 2015 Why do we need financial education in Asia? - Asia Pathways

This article assesses the case for promoting financial education in Asia. It argues that the benefits of investing in financial education can be substantial.

17 February 2015 Why Asia needs more financial education - Nikkei

In the aftermath of the global financial crisis of 2007-2008, financial literacy and financial education are gaining more attention around the world. There were sobering lessons, for example, in how the mis-selling of financial products contributed directly to the severity of the crisis, both in developed economies and in Asia.

26 November 2014 An analysis of challenges faced by Abenomics - Asia Pathways

In December 2012, Japan’s Liberal Democratic Party won the general election, making Shinzo Abe Prime Minister of Japan, a post that he had previously held in 2007.

ADBI Dean Naoyuki Yoshino interviewed by Channel NewsAsia 3 August 2017 Interview on Naoyuki Yoshino, ADBI dean

ADBI Dean Naoyuki Yoshino interviewed by Channel NewsAsia

Interview start at 16:50

SMEs need financial education; post offices can go where banks can’t 6 July 2017 SMEs need financial education; post offices can go where banks can’t

ADBI Dean Naoyuki Yoshino told VTC10–NETVIET in Ha Noi, Viet Nam, that small business owners need education to be able to access finance.

Let's Build a Highway 14 June 2017 Let's Build a Highway

How can governments build much needed roads without going into huge public debt? Find out how in this 1-minute video.

Social Wellbeing and Sustainable Growth in Asia 25 April 2017 Social Wellbeing and Sustainable Growth in Asia

ADBI Dean Naoyuki Yoshino relates tax compliance to social well-being and maintaining a sustainable economy.

 Proposals for Evaluation 24 April 2017 The Economic Impact of Infrastructure: Proposals for Evaluation

In this presentation ADBI Dean Naoyuki Yoshino looks at non-traditional means of infrastructure investment.

Increasing Infrastructure Investment with Spillover Tax Revenues 16 February 2017 Increasing Infrastructure Investment with Spillover Tax Revenues

ADBI Dean Naoyuki Yoshino explains how more private sector money can be secured in order to further build infrastructure in Asia.

Infrastructure Investment, Financing for SMEs and Start-ups 16 February 2017 Infrastructure Investment, Financing for SMEs and Start-ups

ADBI Dean Naoyuki Yoshino looks at how small and medium-sized enterprises (SMEs) can strengthen their financial base in order to help a region on a path of sustainable economic growth.

A Comparative Analysis of Central Local Government Relations 10 May 2016 A Comparative Analysis of Central Local Government Relations

ADBI Dean Naoyuki Yoshino talks about the relationship between central and local governments in Japan and the PRC, with regard to tax revenues.

Monetary Policy and the Oil Market 2 May 2016 Monetary Policy and the Oil Market

ADBI Dean Naoyuki Yoshino talks about the effect monetary policy has on the price of oil and in doing so introduces a new ADBI publication: Monetary Policy and the Oil Market.

Postal Savings and Financial Education 14 April 2016 Postal Savings and Financial Education

ADBI Dean Naoyuki Yoshino speaks at an ADBI organized conference focusing on postal savings systems in Asia.

The Spillover Effects of Infrastructure Investments 9 March 2016 The Spillover Effects of Infrastructure Investments

ADBI Dean Naoyuki Yoshino talks about the need for infrastructure investment in highways, bridges, ports, and so on in this short talk.

 Changing Asia 23 April 2015 Naoyuki Yoshino on the Economics of Remittances: Changing Asia

Remittances should be harnessed to serve as capital for starting businesses, promoting the growth of the private sector, says ADBI Dean Naoyuki Yoshino.

 Lessons for other Asian Economies 8 April 2015 Japan's Lost Decade: Lessons for other Asian Economies

ADBI Dean Naoyuki Yoshino and Farhad Taghizadeh-Hesary gave a lecture focused on the causes of the Japan's long-term recession and provided remedies for getting out of recession and boosting economic growth.