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Acting Dean of IR/PS Awarded Top Economics Prize in Japan

Eeva Moore | December 11, 2006

Takeo Hoshi
Professor Takeo Hoshi

In a ceremony held in Tokyo on Dec. 6, Prof. Takeo Hoshi, acting dean of IR/PS, was awarded the 2006 Enjoji Jiro Memorial Prize. Hoshi is one of three inaugural recipients of the prize created by the Nihon Keizai Shimbun newspaper, the Japanese equivalent of the Wall Street Journal. The award was established in celebration of the newspaper’s 130th anniversary. It is given to leading economists in Japan who have achieved excellence in economics with their original analysis of the modern policy issues.

IR/PS Dean Peter Cowhey explains Hoshi’s contribution in this way: “Previous scholars had demonstrated that Japanese financial markets worked quite differently than in the United States. But their claim that Japan was unique left them uncertain about what would happen if things changed. Professor Hoshi integrated their insight into a general framework of contemporary macroeconomic and financial theory. As a result, he could forecast how restructuring Japanese financial institutions would influence economic growth. His studies, combining rigorous econometric analysis with innovative theorizing, have fueled the policy debate over financial reform in Japan and changed the study of the Japanese economy.” 

Hoshi is the Pacific Economic Cooperation Professor of International Economic Relations at UCSD and acting dean during Cowhey’s sabbatical. He is an authority on the Japanese economy and financial system, especially corporate finance and governance. He is the recipient of numerous awards, including the prestigious 2005 Nakahara Prize, which honors economists under the age of 45 who have produced internationally recognized research.

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