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

- Toshihiko Fukui

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

- Toshihiko Fukui

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

- Toshihiko Fukui

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

- Toshihiko Fukui

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

- Toshihiko Fukui

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

- Toshihiko Fukui

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

- 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

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

- Toshihiko Fukui