Japan’s Economy and the World: Post-Quake Reconstruction Prospects and Challenges

Date: 

Tuesday, April 19, 2011, 4:10pm to 5:30pm

Location: 

124 Mt. Auburn Street, Suite 200-North, Cambridge, MA

Rising sun

Hiroshi Nakaso, Assistant Governor, Bank of Japan

About the Seminar
Amidst Japan’s tragic situation in the aftermath of the huge earthquakes and tsunamis of March 11th, policymakers and scholars are working on resuscitation strategies for the Japanese economy. Hiroshi Nakaso, assistant governor of the Bank of Japan, will address a Harvard audience concerning challenges and prospects of post-quake Japan’s economy after attending the IMF-World Bank annual meeting in Washington, D.C. Mr. Nakaso works extensively, along with his colleagues both at home and abroad, serving as chairman of G20 Study Group on Commodities and member of G20 Finance and Central Bank Deputies Meeting.

About the Speaker
Hiroshi Nakaso graduated from the University of Tokyo with a B.A. in economics and joined the Bank of Japan in 1978. Early in his career, he was seconded to the Industrial Policy Bureau of the Ministry of International Trade and Industry (now the Ministry of Economy, Trade, and Industry). Then, during 1985-87, he worked in the Bank’s Policy Planning Department where he was involved in the formulation of monetary policy.

Subsequently, he was assigned to the London Representative Office until 1989. From 1990 to 1993, he was assigned to International Department and represented the Bank of Japan as a member of one of the sub-groups of the Basle Committee on Banking Supervision and also the BIS Eurocurrency Standing Committee (Committee on the Global Financial System since February 1999). In 1993, he was assigned to Financial and Payment System Department (the name was changed to Financial and Payment System Office in April 1998) which is responsible for restoring soundness to Japan’s financial system. After seven years of service in Financial and Payment System Office, where he mainly dealt with Japan’s financial crisis, he was transferred to the Bank for International Settlements in Basel, Switzerland, in June 2000. A year after, in June 2001, he returned to the Bank of Japan as associate director in Financial Markets Department and International Department. In May 2003, he became director-general of Financial Markets Department. Since June 2006, he has served as chairman of the Markets Committee, a standing committee at the Bank for International Settlements. In November 2008, he was appointed executive director and is now assistant governor.