Koichi Hamada (浜田宏一) is the Tuntex Professor of Economics Emeritus at Yale University, where he specializes in the Japanese economy and international economics, and is Professor Emeritus at the University of Tokyo, where he taught before coming to Yale in 1986. He was appointed by Prime Minister Shinzo Abe as Special Advisor (on Economics) to his new cabinet in December 2012.
Professor Hamada has an L.L.B. (he passed Japan’s national Bar Examination in 1957), and an M.A. in Economics from the University of Tokyo as well as an M.A. and Ph.D. in Economics from Yale University. His work on policy coordination, one of which first applied game theory to international finance, was published as The Political Economy of International Monetary Interdependence(MIT Press, 1985), and some of his economic articles are collected in Strategic Approaches to the International Economy: Selected Essays of Koichi Hamada (Edward & Elgar, 1996). He is a fellow of the Econometric Society and served as its council member from 1980 to 1985. Hamada was the President of the Japanese Association of Economics and Econometrics (now the Japan Economic Association) from 1994 to 1995 and was the founding President of the Japan Law and Economics Association in 2003 (now its honorary fellow). In 2006 he was awarded the imperial decoration, the Order of the Sacred Treasure, Gold and Silver Star (瑞宝章), which is conferred on those who have accumulated distinguished achievements for Japan.
In Japan, he participated in many policy committees at the Ministry of Finance, MITI, the Economic Planning Agency and other ministries. Hamada also serves as one of the associate editors for many journals including Econometrica, Journal of International Economics, Journal of Economic Theory, Journal of Public Economics, Journal of Development Economics and Journal of the Japanese and International Economies.
Hamada’s game-theoretic study of international monetary relations is regarded as one of the first studies that drew attention to the strategic aspects of macroeconomic policy in interdependent nations. He was one among the few who applied the methodology of “Law and Economics” to Japan’s legal system in the 1970s. His current research topics include: international capital movements, regional integration, political economy of international monetary reform, economics and politics of Japan’s last decade, a comparison of economic functions of the Japanese and the U.S. legal systems.
In 1997, Professor Hamada served as a member of the external evaluation team of the Enhanced Structural Adjustment Facility (ESAF) Program of the International Monetary Fund by request of its Board of Directors. He was a member of the Consulting Group that advised Mike Moore, Director General of the World Trade Organization (WTO), on the future perspectives for the world trade system, and he was until recently a member of the Consulting Group that advises Supachai Panitchpakdi, Director General of the WTO.
From January 2001 to July 2002, Professor Hamada was on leave from Yale University to serve as the first President of the Economic and Social Research Institute (ESRI, 経済社会総合研究所長), Cabinet Office of the Japanese Government. The ESRI engages in policy-oriented research and compiling the GDP statistics. Hamada was in a position to advise the Council on Economic and Fiscal Policy (CEFP 経済財政諮問会議), a body created to promote the administrative reform (構造改革) chaired by the Prime Minister.
Koichi Hamada was a recipient of a Fulbright Scholarship, the Ford Dissertation Fellowship and the Center for Institutional Reform and the Informal Sector (IRIS) Fellowship. He was a recipient of Nikkei Tosho Bunka Prize (1967) for Economic Growth and Capital Movements, (経済成長と国際資本移動－資本自由化の経済学), the Ekonomisuto prize (1980) for Banking Behavior and Monetary Policy (金融政策と銀行行動). He was also awarded the Otto Eckstein Prize (1988) by the Eastern Economic Association for The Impact of the General Theory in Japan, recognized as the best article in the Eastern Economic Review for the year. In 2009, Professor Hamada was awarded the Abe Fellowship from the Social Science Research Council (SSRC), the Japan Foundation Center for Global Partnership (CGP), and the American Council of Learned Societies (ACLS). This fellowship is intended for international multidisciplinary research on topics of pressing global concern. Professor Hamada’s proposed area of research is “Ignorance or Vested Interests: A Comparison of Economic Crisis Management in Japan and the United States.”
His latest book 「アメリカは日本経済の復活を知っている
(“America knows that Japan’s Economy Will Revive”) was published by Kodansha Publishing Co. in January 2013.