Prof. Hitoshi Hirakawa
Structural Shift of the World Economy and Asia’s Emerging Economies
Entering this century, structural shift of the world economy has drastically progressed. In the 2008 after about 10 years since the 1997 of Asia currency crisis, global financial crisis of the origin from the United States took place again and spread to the world. It also attacked East Asia. Just after the crisis, the effect of the crisis on East Asia as the manufacturing base for the world was expected to be very severe. Nevertheless, East Asia’s role of growth of the world economy after the crisis has surely increased.
The greatest change was that structure of the world economy, which has been dominated by the small number of advanced economies, has over the last half century been in the process of changing toward a new one. Of course, it is not a linear process. Evaluation of emerging economies has fluctuated and has gone up and down. However, following a zigzag course marking several new stages, a new structure seems to be appearing. From the viewpoint of development of East Asian economies since the 1980s, the change of the world economy has been revealed
This presentation will confirm the structural change of the relation between advanced and emerging economies. Also, impacts of policy measures of quantity easing by advanced economies under today’s world recession on emerging economies will be referenced.
In this connection, the author has coined the termed PoBMEs to refer to the emerging economies. The term stands for potentially bigger market economies, which the author thinks is a major force causing change of today’s world economy. As such, he shows the development mechanism of emerging economies under the world economy in the early 21st century, and extracts implications for current capitalism. Its implication for the Philippines will be also considered.
Name: Hitoshi HIRAKAWA（Ph.D in Economics）
Birth of Date: September 14, 1948
Marital Status: Married
Professor, Kokushikan University
4/1968-3/1972 Faculty of Business Management, Meiji University
4/1972-3/1974 Master Course of Graduate School of Business Management, Meiji University
4/1974-3/1980 Doctoral Course of Graduate School of Business Management, Meiji University
BA from Meiji University (Tokyo) in 1972
MA in Business Administration from Meiji University in 1974
Ph.D. in Economics from Kyoto University in 1996
4/1980-3/1984: Lecturer（International Economy, Asian Economic Affairs）at Nagasaki
Prefectural University of International Economics, Japan.
4/1984-3/1989: Associate Professor (International Economy, Asian Economic Affairs)
at Nagasaki Prefectural University of International Economics.
4/1989-3/1994: Associate Professor (International Trade, Development Economics) at
4/1994-3/1996: Professor (Asian Economies) at Ibaraki University, Japan
4/1996-9/2000: Professor (Asian Economies) at Tokyo Keizai University, Japan
1-/2000-3/2013: Professor (Asian Economies, Regional Collaboration), Economic Research
Center, Graduate School of Economics, Nagoya University, Japan.
2003-05 Director of Economic Research Center, Graduate School of Economics, Nagoya
4/2013- Present: Professor (Asian Economies) at Kokushikan University, Tokyo, Japan
Thank you for helping us by citing the seminar when using these documents (17th Sustainable Shared Growth Seminar of the Sekiguchi Global Research Association, February 11, 2014, College of Engineering, University of the Philippines)