Haruo Maekawa (前川 春雄, Maekawa Haruo, February 6, 1911 – September 22, 1989), also romanized as Mayekawa,[1] was a Japanese businessman, central banker, the 24th Governor of the Bank of Japan (BOJ).
Before rising to become head of the Bank of Japan, Maekawa held other bank positions, including director of foreign-exchange operations.[3]
Maekawa was Governor of the Bank of Japan from December 17, 1979 through December 16, 1984,[1] having previously served as Deputy Governor from 1974 to 1979.[4] Along with Finance MinisterNoboru Takeshita, he was credited with negotiating a Saudi-Japan petrodollar accord in 1980.[5]
Maekawa Commission
In 1986, the Maekawa Commission (the "Advisory Group on Economic Restructuring" headed by Maekawa)[6] proposed economic reforms designed to make the living standards of Japanese more comparable to levels enjoyed in the West.[7] Maekawa is credited as the chief author of the commission report.[8] Maekawa Report into effect. His two reports argued that Japan should seek switch from an export-oriented economy into a domestic demand-led economy. They downplayed the need for achieving economic parity using foreign exchange rate adjustments. A new reorientation would require more spending and less saving. There would have to be demand-side improvements in the quality of daily life, changes in Japan's industrial structure and more imports. It proposed industrial structural transformations using market-incentive mechanisms.[9] however the report was merely a statement of long-term goals, and contain no meaningful action programs. Even so it was opposed by many Liberal Democrats, by angry interest groups, and a few prominent economists. The report had very little long-term impact. [10]
^Sterngold, James. "Tokyo's Importing More, but Who's Benefiting?" New York Times. February 25, 1991; "Japan's Broken Pledge of Change Comes Back to Haunt Its Economy," New York Times. August 15, 1992; retrieved 2011-08-17
^Mayako Shimamoto, et al. Historical Dictionary of Japanese Foreign Policy (2015) pp 180–181.
^Kpzp Yamamura, "Shedding the Shackles of Success: Saving Less for Japan's Future." Journal of Japanese Studies 13.2 (1987): 429-456 online.
Further reading
Higashi, Chikara, and G. Peter Lauter. "The Maekawa Commission Reports and the Potential Constraints on Internationalization." in The Internationalization of the Japanese Economy (Springer, Dordrecht, 1990) pp. 121-179.
Maekawa, Haruo. Maekawa Report (The Report of the Advisory Group on Economic Restructuring). ( Rotterdam Institute of Modern Asia Studies (RIMAS) 1987). OCLC 150137623
Moore, James P. "The United States and Japan: Competition and cooperation." (1988). Online
Werner, Richard A. (2003). Princes of the Yen: Japan's Central Bankers and the Transformation of the Economy. Armonk, New York: M.E. Sharpe. ISBN978-0-7656-1048-5; OCLC 471605161
haruo, maekawa, 前川, 春雄, maekawa, haruo, february, 1911, september, 1989, also, romanized, mayekawa, japanese, businessman, central, banker, 24th, governor, bank, japan, 前川, 春雄24th, governor, bank, japanin, office, december, 1979, december, 1984preceded, byteii. Haruo Maekawa 前川 春雄 Maekawa Haruo February 6 1911 September 22 1989 also romanized as Mayekawa 1 was a Japanese businessman central banker the 24th Governor of the Bank of Japan BOJ Haruo Maekawa前川 春雄24th Governor of the Bank of JapanIn office 17 December 1979 16 December 1984Preceded byTeiichiro MorinagaSucceeded bySatoshi SumitaPersonal detailsBorn 1911 02 06 February 6 1911Tokyo JapanDiedSeptember 22 1989 1989 09 22 aged 78 Alma materTokyo Imperial University Contents 1 Early life 2 Career 2 1 Maekawa Commission 3 See also 4 Notes 5 Further readingEarly life EditMaekawa was born in Tokyo 2 Career EditBefore rising to become head of the Bank of Japan Maekawa held other bank positions including director of foreign exchange operations 3 Maekawa was Governor of the Bank of Japan from December 17 1979 through December 16 1984 1 having previously served as Deputy Governor from 1974 to 1979 4 Along with Finance Minister Noboru Takeshita he was credited with negotiating a Saudi Japan petrodollar accord in 1980 5 Maekawa Commission Edit In 1986 the Maekawa Commission the Advisory Group on Economic Restructuring headed by Maekawa 6 proposed economic reforms designed to make the living standards of Japanese more comparable to levels enjoyed in the West 7 Maekawa is credited as the chief author of the commission report 8 Maekawa Report into effect His two reports argued that Japan should seek switch from an export oriented economy into a domestic demand led economy They downplayed the need for achieving economic parity using foreign exchange rate adjustments A new reorientation would require more spending and less saving There would have to be demand side improvements in the quality of daily life changes in Japan s industrial structure and more imports It proposed industrial structural transformations using market incentive mechanisms 9 however the report was merely a statement of long term goals and contain no meaningful action programs Even so it was opposed by many Liberal Democrats by angry interest groups and a few prominent economists The report had very little long term impact 10 See also EditPlaza AccordNotes Edit a b BOJ List of Governors Bank of Japan BOJ 24th Governor Farnsworth Clyde H Central Bankers Discuss Currency New York Times December 9 1968 retrieved 2011 08 17 Werner Richard A 2003 Princes of the Yen Japan s Central Bankers and the Transformation of the Economy p 147 p 147 at Google Books Ofusa Junnosuke Saudi Japan Petrodollar Accord Set New York Times April 25 1980 retrieved 2011 0817 Library of Congress LOC Maekawa Haruo Sterngold James Tokyo s Importing More but Who s Benefiting New York Times February 25 1991 Japan s Broken Pledge of Change Comes Back to Haunt Its Economy New York Times August 15 1992 retrieved 2011 08 17 WorldCat Identities Maekawa Haruo Mayekawa Haruo Mayako Shimamoto et al Historical Dictionary of Japanese Foreign Policy 2015 pp 180 181 Kpzp Yamamura Shedding the Shackles of Success Saving Less for Japan s Future Journal of Japanese Studies 13 2 1987 429 456 online Further reading EditHigashi Chikara and G Peter Lauter The Maekawa Commission Reports and the Potential Constraints on Internationalization in The Internationalization of the Japanese Economy Springer Dordrecht 1990 pp 121 179 Maekawa Haruo Maekawa Report The Report of the Advisory Group on Economic Restructuring Rotterdam Institute of Modern Asia Studies RIMAS 1987 OCLC 150137623 Moore James P The United States and Japan Competition and cooperation 1988 Online Werner Richard A 2003 Princes of the Yen Japan s Central Bankers and the Transformation of the Economy Armonk New York M E Sharpe ISBN 978 0 7656 1048 5 OCLC 471605161Government officesPreceded byTeiichiro Morinaga Governor of the Bank of Japan1979 1984 Succeeded bySatoshi Sumita Retrieved from https en wikipedia org w index php title Haruo Maekawa amp oldid 1090371227, wikipedia, wiki, book, books, library,
