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Masaaki ShirakawaJapanese economist and banker
Date of Birth: 27.09.1949
Country:  Japan |
Content:
- Masaaki Shirakawa
- Early Life and Education
- Career at the Bank of Japan
- Appointment as Bank of Japan Governor
- Resignation and Successor
Masaaki Shirakawa
Masaaki Shirakawa, a renowned Japanese economist and banker, served as the 30th Governor of the Bank of Japan from 2008 to 2013. Following his tenure at the central bank, he became a professor at Aoyama Gakuin University in Tokyo and a director and vice chairman of the Bank for International Settlements.
Early Life and Education
Born on September 27, 1949, in Fukuoka, Japan, Shirakawa graduated from high school in Kokura within the same prefecture. In 1972, he attained a Bachelor's degree in Economics from the University of Tokyo. He subsequently pursued a Master's degree in Economics at the University of Chicago, receiving the degree in 1977.
Career at the Bank of Japan
Shirakawa joined the Bank of Japan in 1972 upon graduating from university. Throughout his esteemed career, he held various positions within the bank, including General Manager of its Oita Branch. He also served as General Manager of the bank's New York Representative Office for a period.
In 2006, Shirakawa joined the faculty of the Kyoto University Graduate School of Public Policy, but returned to the Bank of Japan in 2008. His appointment as Governor of the Bank of Japan was approved on April 9, 2008.
Appointment as Bank of Japan Governor
According to Newsweek, Shirakawa's appointment followed his ranking as the world's sixth most influential economist, behind Ben Bernanke of the US Federal Reserve and Jean-Claude Trichet of the European Central Bank. As Governor, Shirakawa's aim was to "respond flexibly and promptly to changing circumstances" to promote sustainable growth and stability in Japan.
Responsibilities as Governor entailed ensuring price stability and maintaining the stability of Japan's financial system. In 2011, he was included in Bloomberg Markets Magazine's "50 Most Influential People in the World." Shirakawa is also affiliated with the Group of Thirty, an international organization of financiers and economists based in Washington, D.C.
Resignation and Successor
On March 19, 2013, Shirakawa resigned from his post as Governor, a few weeks shy of the end of his term. His resignation stemmed from a disagreement with the policies of then-Prime Minister Shinzo Abe. His successor, Haruhiko Kuroda, had long been anticipated to take over the role.
