Publications

fsi books

Publications

Browse FSI scholarship on geopolitics, global health, energy, cybersecurity and more.

Featured Publications

Everything Counts: Building a Control Regime for Nonstrategic Nuclear Warheads in Europe

Building a Control Regime for Nonstrategic Nuclear Warheads in Europe

A new report led by Rose Gottemoeller on non-strategic nuclear warhead policies in Europe, particulary in light of Russia's changing status in the global nuclear community.
3D mockup cover of APARC's volume 'South Korea's Democracy in Crisis'

South Korea’s Democracy in Crisis

A close look at what is driving illiberalism and democratic delcine in today’s Korea, including political polarization, politicization of institutions, societal inequality, education, and social media.
System Error book cover and authors

System Error: Where Big Tech Went Wrong and How We Can Reboot

A forward-thinking manifesto which reveals how big tech’s obsession with optimization and efficiency has sacrificed fundamental human values.

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Masahiko Aoki
Books

Transboundary Game of Life: Memoir of Masahiko Aoki

Masahiko Aoki
2019 March 15, 2019

The central part of this book is an English version of the memoir of Masahiko Aoki that was published in Japanese in 2008 (青木昌彦『私の履歴書 人生越境ゲーム』日本経済新聞出版社).

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Working Papers

Strategies and Public Propositions in Games of Institutional Change, Comparative Historical Cases

Masahiko Aoki
2014 September 22, 2014
This paper argues that game-theoretic approach is incomplete for institutional studies, because comparative institutions as well as institutional changes involve a possibility of multiple equilibria. In order to solve the common knowledge problem, this paper proposes to unify game theoretic thought with an analysis of public representations/propositions to summarize salient features of the recursive/emergent states of play. From this perspective the paper tries to reconcile differences in three accounts of institutions, endogenous outcome, exogenous rules and constitutive rules accounts. Then, the unified approach is applied to comparative and historical cases of the Tokugawa Japan and the Qing China. Specifically it sheds new light into the coalitional nature of Tokugawa Baku-Han regime nesting the fundamental Samurai-village pact as well as the tendency toward decentralization of political violence and fiscal competence to the provincial level toward the end of the Qing China. From these new historical interpretations, endogenous strategic forces and associated public propositions leading to institutional changes through the Meiji Restoration and the Xinhai Revolution are identified and compared.
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Books

Comparative Institutional Analysis: Theory, Corporations and East Asia. Selected Papers of Masahiko Aoki

Masahiko Aoki
Edward Elgar Pub, 2014 January 1, 2014

This volume collects 22 articles by Masahiko Aoki, selected from writings published over the course of his 45-year academic career. These fascinating essays cover a range of issues, including mechanism design, comparative governance, corporate governance, institutions and institutional change, but are tied together by a focus on East Asia and a comparative institutional framework.

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Journal Articles

Historical sources of institutional trajectories in economic development: China, Japan and Korea compared

Masahiko Aoki
Socio-Economic Review, 2013 February 1, 2013

This article first provides a game-theoretic, endogenous view of institutions and then applies the idea to identify the sources of institutional trajectories of economies development in China, Japan, and Korea. It stylises the Malthusian phase of the East Asian economies as a peasant-based economies in which small conjugal families self-managed their working times between farming on small plots—leased or owned—and handcrafting for personal consumption and markets. It then compares institutional arrangements across these economies that sustained otherwise similar economies.

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Journal Articles

A comparative institutional analysis of the Fukushima nuclear disaster: Lessons and policy implications

Masahiko Aoki, Geoffrey Rothwell
Energy Policy, 2013 February 1, 2013

This paper analyzes the causes, responses, and consequences of the Fukushima nuclear power plant accident (March 2011) by comparing these with Three Mile Island (March 1979) and Chernobyl (April 1986). We identify three generic modes of organizational coordination: modular, vertical, and horizontal. By relying on comparative institutional analysis, we compare the modes' performance characteristics in terms of short-term and long-term coordination, preparedness for shocks, and responsiveness to shocks.

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Working Papers

Complexity and Institutions: Markets, Norms and Corporations

Masahiko Aoki, Kenneth Binmore, Simon Deakin, Herbert Gintis
Palgrave Macmillan, 2012 December 31, 2012

This volume explores how complex economic transactions can be treated in economics, as well as how societies bring order to complex economic and social transactions through various institutional devices. Bringing together eminent scholars from the fields of game theory, complexity, econometrics and law, it explores theoretically and empirically how markets, social norms, and corporate organization and governance evolve, and how these institutions affect economic behavior. The contributors include, besides the editors, S. Cincotti, M. Gallegatti, M. Kandori, K. Pistor, B. Skyrms, R.

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Working Papers

Institutions and Comparative Economic Development

Masahiko Aoki, Timur Kuran, Gérard Roland
Palgrave Macmillan, 2012 December 31, 2012

This book explores why different patterns of economic development and growth have been observed across different regions and over time. Drawing on the contributions of outstanding scholars in comparative and historical institutional analysis, this volume presents the roles of political institutions, social organizations and norms, culture, and policy in economic development and societal evolution. The contributors include, besides the editors, G. Austin, A. Greif, D. Ma, T. Khanna, J.L. Rosenthal, C.H. Shiue, J. Svenjinar, P. Temmin, R.B. Wong, and others.

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Working Papers

The Global Macro Economy and Finance

Franklin Allen, Masahiko Aoki, Nobuhiro Kiyotaki
Palgrave Macmillan, 2012 December 31, 2012

This volume explores fundamental macroeconomic and financial issues of today from fresh perspectives. Bringing together leading scholars and practitioners in the fields, it analyzes the light that the recent crisis has shed on the global macro economy, sectoral structure and financial architecture, and proposes policies needed to address systemic financial risks and foster a sustainable growth. It also explores the measurement of economic and social progress in our societies, and proposes new frameworks to integrate economic dimensions with other aspects of human wellbeing.

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Working Papers

The Chinese Economy: A New Transition

Masahiko Aoki, Jinglian Wu
Palgrave MacMillan, 2012 December 31, 2012

China has enjoyed a higher growth rate for a longer period than any other nation to date, but a new consensus is emerging that China is now facing a crucial turning point. This volume is unprecedented in bringing together leading economists from China and the rest of the world to analyse the sources of economic growth, examine its changing conditions for future development, and suggest desirable policy and institutional reforms.

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Working Papers

The Five-Phases of Economic Development and Institutional Evolution in China and Japan

Masahiko Aoki
Social Science Research Network, 2011 July 1, 2011

This paper adopts a unified approach to an understanding of the development processes of the East Asian economies, Chinese, Japanese and South Korean, in terms of common five phases starting with Malthusian equilibria and extended to forthcoming post-demographic transitions characterized by the shrinkage of the working-age group share in the population. Notwithstanding of the basic commonality, however, there are also marked differences among the East Asian economies in the timing of turning points, durations, and substantive forms of the phases.

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Books

Corporations in Evolving Diversity: Cognition, Governance, and Institutions

Masahiko Aoki
Oxford University Press, 2010 July 1, 2010

The 2008–2009 financial crisis demands we look anew at the role of corporations, and the working of financial markets around the world. In this challenging and insightful book, one of our most eminent economists provides a compelling new analysis of the corporate firm; the role of shareholders, managers and workers; and institutional governance structures.

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