Japan Conference

Japan Conference on Financial Institutions for Innovation and Development

Co-sponsored by the Ford Foundation and Ritsumeikan University

 

Ritsumeikan University

July 30-31, 2015

Program

The project on financial Institutions for innovation and development (FIID) studies the types of financial institutions that support innovation at the level of the business enterprise, and the implications for stable and equitable growth in the economy as a whole. By generating higher quality, lower cost products, innovation creates the possibility for growth in per capita incomes. That growth, however, may be unstable over time and inequitably distributed across the population. Much depends on the relation between the productive economy, in which value is created, and the financial economy, in which value is extracted. A prime challenge for policy-makers concerned with economic development is to structure financial institutions so that they support innovation in ways that contribute to stable and equitable growth.

 

Previous FIID conferences (see the project website at www.fiid.org) have been held in New York City at the Ford Foundation headquarters on December 6-7, 2012; in Rio de Janeiro at the Brazilian Development Bank (BNDES) on June 27-28, 2013; in Beijing at the Institute of Policy and Management, Chinese Academy of Sciences on October 17-18, 2013; and in Berlin in collaboration with the Hans Böckler Foundation on November 10-11, 2014.

 

A special focus of the FIID project has been the information and communication technology (ICT) industries. The morning of Day One of the Japan FIID conference will be devoted to an in-depth cross-national comparison of this industrial sector.

 

Following a keynote speech by Toshio Yamamoto, Senior Vice President, Nitto Denko, the afternoon of Day One features sessions on Japanese innovation, including perspectives on Japan as an innovation nation over the next decade and the evolving role of Chinese-Japanese collaboration in the innovation process.

 

Day Two of the conference explores the evolving relation of the productive economy and the financial economy in Japan, China, and the United States. Under what conditions does the financial economy come to dominate the productive economy, and what are the implications for industrial innovation and economic development? How can the financial economy be regulated to serve the productive economy?

 

FIID project leader William Lazonick will deliver the Day Two keynote speech, based on his article “Profits Without Prosperity,” which has received the HBR McKinsey Award for outstanding article in Harvard Business Review in 2014.

 

The conference will conclude with a roundtable discussion of what we have learned about the social (including financial) conditions for innovative enterprise, and how business strategy and government policy can transform innovation into “sustainable prosperity,” characterized by stable and equitable economic growth.

 

 

 

SCHEDULE (see www.fiid,org for bios, papers, and presentations)

 

Thursday, July 30

 

Day One:

 

9:00-9:15: Welcome Remarks

Masahiro Kotosaka

Leonardo Burlamaqui

William Lazonick

 

9:15-10:45: Innovation Systems and Business Models in ICT

William Lazonick, University of Massachusetts Lowell  <Background Paper>  <Presentation>

Kenji Kushida, Stanford University <Presentation>

Kaidong Feng, Peking University  <Background Paper>  <Presentation>

Edward March, Dartmouth College  <Presentation>

 

10:45-11:15 Coffee break

 

11:15-12:45: Innovation and Competition in Global ICT

Marie Carpenter, Telecom School of Management, Paris  <Presentation>

Henrik Glimstedt, Stockholm School of Economics  <Presentation>

Petri Rouvinen, ETLA (Research Institute of the Finnish Economy)  <Presentation>

Jang-Sup Shin, National University of Singapore   <Presentation>   <Background Paper>

 

12:45-13:45: Lunch

 

14:00-14:50: Japanese Keynote Speech

(Open to the public in Building B Conference Hall)

Toshio Yamamoto, Senior Vice President, Nitto Denko

 

15:00-16:15: Japanese Innovation for the Next Decade [日本の底力]

(Open to the public in Building B Conference Hall)

Facilitator: Masahiro Kotosaka, Ritsumeikan University

Christina Ahmadjian, Hitotsubashi University; External Director, Japan Exchange Group & Mitsubishi Heavy Industries

Ryuji Ishikawa, President of VEC & Senior Managing Director of JVCA

Eugene Choi, Ritsumeikan University

 

16:15-16:45: Coffee break

 

16;45 -18:00: China-Japan Collaboration in Innovation

(Open to the public in Building B Conference Hall)

Facilitator: Tetsuo Yoshimoto, Ritsumeikan University

Ryuji Ishikawa, President of VEC & Senior Managing Director of JVCA

Chen Jin, Ritsumeikan University

Toshihiko Omote, Executive Vice President, Nitto Denko

 

18:00-19:30: Reception@Ritsumeikan

Friday, July 31

 

Day Two: Does the Financial Economy Support the Productive Economy?

 

9:00-10:30: Japan

Ulrike Schaede, University of California, San Diego  <Background Paper> <Presentation>

Mari Sako, University of Oxford

Kay Shimizu, Columbia University <Presentation>

Kenji Kushida, Stanford University <Presentation>

 

10:30-11:00: Coffee break

 

11:00-12:30: China

Jun Zhang, University of Toronto  <Presentation>  <Background Paper>

Yin Li, Georgia Institute of Technology <Presentation>

Leonardo Burlamaqui, State University of Rio de Janeiro  <Background Paper> <Presentation>

Yu Zhou, Vassar College  <Background Paper> <Presentation>

 

12:30-14:00: Lunch and Keynote Speech

William Lazonick, Profits Without Prosperity

 

14:00-15:30: United States

Eileen Appelbaum, Center for Economic Policy Research  <Presentation>  <Background Paper>

Tom Ferguson, University of Massachusetts, Boston

Yongdo Kim, Hosei University <Presentation>

Franz Waldenberger, German Institute for Japanese Studies (DIJ)  <Presentation>

 

15:30-16:00 Coffee break

 

16:00-17:30:  Roundtable on Financial Institutions for Innovation and Development

Leonardo Burlamaqui, State University of Rio de Janeiro

William Lazonick, University of Massachusetts Lowell

Ulrike Schaede, University of California, San Diego

Jang-Sup Shin, National University of Singapore

 

17:30PM-18:00: Closing Remarks

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