東京大学公共政策大学院 | GraSPP / Graduate School of Public Policy | The university of Tokyo

Asian economies, Finance and development, Public-Private Partnerships (PPPs), Sovereign debt

Prof. Nishizawa has been actively engaged in policy dialogue and research activities with the main focus on emerging and developing economies in Asia. He has published a number of articles and written a chapter in a few publications on Asian economies, financing for development, Public-Private Partnerships (PPPs) and sovereign risk assessment.

Mr. Toshiro Nishizawa is Professor at the Graduate School of Public Policy (GraSPP) of the University of Tokyo. Immediately prior to his current position, he was Project Professor (2015-19) and Professor (2013-15) at the GraSPP after serving as Director General of Country Credit Department at the Japan Bank for International Cooperation (JBIC). He also served as Deputy Director General of JBIC Institute (the research department) and Director of Asia Department II at the Japan Center for International Finance (JCIF). He was involved in JBIC's country operations as Deputy Director General of International Finance Department I (Asia and Oceania) (2004-06) and served as Chair of the UNEP FI Asia Pacific Task Force Outreach Group (2005-06). He held various positions including: loan officer at the Export-Import Bank of Japan; researcher in the Economic Cooperation Bureau of the Ministry of Foreign Affairs; economist in the Policy Development and Review Department of the International Monetary Fund (IMF); and advisor in the Private Sector Development Department of the World Bank. Mr. Nishizawa has been actively engaged in policy dialogue and research activities with the main focus on emerging and developing economies in Asia. He has published a number of articles and written a chapter in a few publications on Asian economies, financing for development, Public-Private Partnerships (PPPs) and sovereign risk assessment. Mr. Nishizawa was a guest lecturer and professor at the Osaka School of International Public Policy (OSIPP) of Osaka University (2004-14) and was a visiting lecturer at Kobe University and Chuo University. He was also a part-time lecturer to teach PPPs at GraSPP (2010-13) and invited as a visiting professor by Chulalongkorn University in Thailand and by the Escola de Administração de Empresas de São Paulo da Fundação Getulio Vargas (EAESP-FGV) in Brazil, both in 2014. He served as a member of the Expert Group on Financial Cooperation with Asian Countries under the Council on Customs, Tariff, Foreign Exchange and Other Transactions (2013-14), and has been a member of the IMF Study Group and a senior visiting fellow at Policy Research Institute (PRI) of Japan's Ministry of Finance (MOF). He was also invited by the Japan International Cooperation Agency (JICA) to serve as a member of the Support Committee for the Project for Capacity Building of Public Private Partnership in Mongolia (2014-15); as the lead researcher of Working Group 1 (Fiscal and Debt Management) under Joint Policy Research and Dialogue Program for Fiscal Stabilization in Lao PDR (2018-); and as the chief advisor to Feasibility Survey for Micro Investment Crowdfunding to Support Local Micro Small and Medium Businesses in Peru (2018-). Mr. Nishizawa holds a BA in Latin American studies from Tokyo University of Foreign Studies (1982), a BA in economics from the University of Tokyo (1984) and an MSc in economics from the University of Wisconsin-Madison (1988). Mr. Nishizawa was born in Tokyo, Japan in 1959 and is married with two children.

Contact information: tnishizawa-at-pp.u-tokyo.ac.jp *Please replace "-at-" with @.

Comments quoted in an article “Laos faces sovereign default as forex reserves dip below $1bn.” Financial Times, September 3, 2020

An interview aired by The World, a US-based public radio’s global news program, on the topic of “a Chinese company’s control of an entire nation’s electrical grid in Lao PDR.” September 30, 2020

Comments quoted in an article “Thailand challenges Laos dam building spree on Mekong River.” Nikkei Asia, January 30, 2021

「不採算確実な中国ラオス鉄道　それでも敷設を進める事情」月刊Wedge「一帯一路大解剖」特集、2021年4月

Comments quoted in an article about hidden debt controversy with the BRI by Deutsche Welle (DW), a Germany's international broadcaster, September 30, 2021

Comments quoted in an article “China-Laos high-speed railway set to roll through COVID cloud.” Nikkei Asia, November 30, 2021

「中国ラオス鉄道開業」週刊エコノミスト「世界経済総予測2022」2021年12月28日・1月4日合併号

Book chapters, journal papers and articles

「一次産品ブームと製造業部門の国際競争力低下：1970年代におけるコロンビア、ペルー、ベネズエラの経験」、『海外投資研究所報』、日本輸出入銀行、1986年4月
「ブラジル経済の発展と産業政策：累積債務問題への政策的対応」、『海外投資研究所報』、日本輸出入銀行、1987年5月
“Financing from Multilateral Institutions,” Official Financing for Developing Countries (co-authored by IMF staff team), International Monetary Fund, December 1995
“Financing from Multilateral Institutions,” Official Financing for Developing Countries (co-authored by IMF staff team), International Monetary Fund, February 1998
「経済発展における外国資金の役割」（黒柳雅明との共著）、奥田英信・黒柳雅明編著『入門開発金融：理論と政策』、日本評論社、1998年2月
「変貌を遂げるタイ経済―金融セクターの視点から―」（ピティ・ディスヤタットとの共著）、『開発金融研究所報』、国際協力銀行、2005年3月
「マレーシア及びタイにおける日系中堅・中小企業の資金需要・調達の現状」、『開発金融研究所報』、国際協力銀行、2007年10月
“Exploring the Use of Revenue Bond for Infrastructure Financing in Asia” (with Hyun, Suk and Naoyuki Yoshino), Discussion Paper No. 15, JBIC Institute, July 2008
「アジア債券市場への国際協力銀行の取組み」、小川英治編『アジア・ボンドの経済学―債券市場の発展を目指して』、東洋経済新報社、2009年5月
“Changes in Development Finance in Asia: Trends, Challenges, and Policy Implications,” Asian Economic Policy Review, Vol.6, Issue 2, pp. 225-244, Japan Center for Economic Research (JCER), Wiley-Blackwell, December 2011 (peer-reviewed)
“Risks in Policy Prescriptions for the European Sovereign-debt Crisis: Muddling through or Trapped in a Vicious Circle?” EU Financial Market Focus, Korea Capital Market Institute (KCMI), July 2012
「アジアのインフラ投資ファイナンス」『ファイナンシャル・レビュー』、財務総合政策研究所、2018年第1号（通巻第133号）、2018年3月 (peer-reviewed)
"Infrastructure Investment and Finance in Asia," Public Policy Review, Policy Research Institute, Ministry of Finance, Japan, Vol. 14, No.5 pp. 925-953, September 2018 (peer-reviewed)
「論説『一帯一路』を見る視点：ASEAN諸国の文脈で」、『SRIDジャーナル』第16号、2019年1月
“Can the G20 shift the global debt finance landscape?” East Asia Forum, June 7, 2021 (peer-reviewed article)
"Waking up from the Japanese debt dream" East Asia Forum, August 10, 2022 (peer-reviewed article)
"Claims of default in Laos are bankrupt" East Asia Forum, August 25, 2022 (peer-reviewed article)