Publications

Journal Articles 

1. Transitional Dynamics of the Saving Rate and Economic Growth

Markus Brueckner, Tomoo Kikuchi and George Vachadze

Macroeconomic Dynamics, 27, 482–505, 2023. 

2. Coase Meets Bellman: Dynamic Programming and Production Networks

Tomoo Kikuchi, Kazuo Nishimura, John Stachurski and Junnan Zhang 

Journal of Economic Theory, 196, 105287, 2021. 

3. Capital Bubbles, Interest Rates and Investment in a Small Open Economy 

Tomoo Kikuchi and Athakrit Thepmongkol 

Journal of Money, Credit and Banking, 52, 2085-2109, 2020. 

4. Japanese Infrastructure Investment in Southeast Asia 

Tomoo Kikuchi and Sayaka Unzaki

Journal of Infrastructure, Policy and Development, 3(1), 129–138, 2019. 

This paper was first published as Policy Report on May 3, 2019 by S. Rajaratnam School of International Studies, Nanyang Technological University.

5. Volatile Capital Flows and Financial Integration: The Role of Moral Hazard 

Tomoo Kikuchi, John Stachurski and George Vachadze

Journal of Economic Theory, 176, 170–192, 2018.

6. Bubbles and Crowding-in of Capital via a Savings Glut 

Marten Hillebrand, Tomoo Kikuchi and Masaya Sakuragawa

Macroeconomic Dynamics, 22, 1238-1266, 2018.

7. Transaction Costs, Span of Control and the Structure of Production Chains 

Tomoo Kikuchi, Kazuo Nishimura and John Stachurski

Theoretical Economics, 13, 729-760, 2018.

8. Effects of Mega-Regional Trade Agreements on Vietnam 

Tomoo Kikuchi, Kensuke Yanagida and Huong Vo

Journal of Asian Economics, 55, 4-19, 2018.

9. Introduction: Trade, Industrialization, and Structural Reform in Southeast Asia

Tomoo Kikuchi 

Journal of Asian Economics, 55, 1-3, 2018.

10. Minimum Investment Requirement, Financial Market Imperfection and Self-fulfilling Belief 

Tomoo Kikuchi and George Vachadze

Journal of Evolutionary Economics, 28, 305-332, 2018. 

Featured in The Tufts Daily.

11. Introduction: East Asia's Growing Global Influence and Challenges in Finance and Trade

Tomoo Kikuchi 

Emerging Markets Finance and Trade, 53 (12), 2645-2648, 2017.

12. Introduction: Evolving Finance, Trade and Investment in Asia

Tomoo Kikuchi 

International Economic Journal, 30 (1), 1-4, 2016.

13. Financial Liberalization: Poverty Trap or Chaos 

Tomoo Kikuchi and George Vachadze 

Journal of Mathematical Economics, 59, 1-9, 2015.

14. A Mechanism for Booms and Busts in Housing Prices 

Marten Hillebrand and Tomoo Kikuchi 

Journal of Economic Dynamics and Control, 51, 204–217, 2015.

15. Natural Resources and Patterns of Overtaking 

Volker Böhm, Tomoo Kikuchi and George Vachadze

International Journal of Economic Theory, 10, 167-177, 2014.

16. Endogenous Inequality and Fluctuations in a Two Country Model 

Tomoo Kikuchi and John Stachurski

Journal of Economic Theory, 144, 1560-1571, 2009.

17. Asset Pricing and Productivity Growth: The Role of Consumption Scenarios 

Volker Böhm, Tomoo Kikuchi and George Vachadze

Computational Economics, 32, 163-181, 2008.

18. International Asset Markets, Nonconvergence, and Endogenous Fluctuations

Tomoo Kikuchi 

Journal of Economic Theory, 139, 310-335, 2008.

Policy Papers

1. Vietnam's High-speed Railway and the Profitability of "Shinkansen" 

Tomoo Kikuchi and Tomoyo Nakamura

RSIS Policy Report, September 2020. 

2. Traffic Congestion in Jakarta and the Japanese Experience of Transit-Oriented Development 

Tomoo Kikuchi and Shunta Hayashi

RSIS Policy Report, August 2020.

3. South Korea’s Economy in 2019/20: Slow Recovery, Growing Social Expenditure and the Fourth Industrial Revolution 

Tomoo Kikuchi, Seung-Hwan Jeong  and Gun-Woo Lee

East Asian Policy, 12(1), 83–94, 2020. 

This paper was first published as Background Brief, No. 1503 on February 20, 2020 by East Asia Institute, National University of Singapore. 

4. Financial Development in Myanmar and the Role of Japan 

Tomoo Kikuchi and Takehiro Masutomo

RSIS Working Paper, WP321, May 24, 2019. 

This is an updated and revised version of ERIA-DP-2016-27 published by ERIA in November 2016. 

5. Profitability of the Kuala Lumpur-Singapore High-Speed Rail 

Tomoo Kikuchi and Akio Tanahashi

RSIS Policy Report, October 24, 2018. 

Featured in The Straits Times, NNA Asia, and many others. 

6. Japanese Yen Meets Russian Gas in the Far East 

Tomoo Kikuchi and Yohei Tanaka

Russia in Global Affairs, 2, 2017.

7. Financial Reforms in Myanmar and Japan’s Engagement 

Tomoo Kikuchi and Takehiro Masutomo

ERIA Discussion Paper Series, ERIA-DP-2016-27, November 2016.

8. The Prospects of International Economic Order in Asia Pacific: Japan’s Perspective

Tomoo Kikuchi 

Russia in Global Affairs, 6, 2015. 

The abridged Russian version of Valdai Paper #30, Valdai Club, October 2015.

Book Chapters

1. South Korea's Economic Outreach in the Indo-Pacific 

Tomoo Kikuchi 

Embracing the Indo-Pacific? South Korea’s Progress Towards a Regional Strategy, K. Springer (ed), Perth USAsia Centre, 14-25, November 2020.

2. RCEP and Indo-Pacific Economic Integration 

Tomoo Kikuchi and Kensuke Yanagida 

Asia Between Multipolarism and Multipolarity, S. R. Chinoy and J. P. Panda (eds), Manohar Parrikar Institute for Defence, Studies and Analyses, 150-173, 2020.

3. An Economic Justification for Japan's Indo-Pacific Vision 

Tomoo Kikuchi 

Implementing the Indo-Pacific: Japan's Region Building Initiatives, K. Springer (ed), Perth USAsia Centre, 8-24, August 2019.

4. Implementation of Asia Africa Growth Corridor 

Tomoo Kikuchi and Kensuke Yanagida 

Indo-Pacific Connectivity Outlook, Policy Analysis and Development Agency, Ministry of Foreign Affairs of the Republic of Indonesia, 33-39, 2019.

5. Introduction 

Tomoo Kikuchi and Masaya Sakuragawa

Financial Cooperation in East Asia, T. Kikuchi and M. Sakuragawa (eds), RSIS Monograph No. 34, 1-4, 2019.

6. Concluding Policy Proposals 

Tomoo Kikuchi and Masaya Sakuragawa 

Financial Cooperation in East Asia, T. Kikuchi and M. Sakuragawa (eds), RSIS Monograph No. 34, 117-121, 2019

7. Concluding Policy Proposals 

Blake H. Berger, Tomoo Kikuchi and Masaya Sakuragawa

China and Japan in the Global Economy, T. Kikuchi and M. Sakuragawa (eds), Routledge Studies in the Modern World Economy, 201-207, 2018.

8. Introduction

Tomoo Kikuchi and Masaya Sakuragawa

China and Japan in the Global Economy, T. Kikuchi and M. Sakuragawa (eds), Routledge Studies in the Modern World Economy, 1-3, 2018.

9. Summary and Conclusion 

Tomoo Kikuchi and Sasidaran Gopalan 

Financial Inclusion in Asia: Issues and Policy Concerns, T. Kikuchi and S. Gopalan (eds), Palgrave Studies in Impact Finance, 257-259, 2016.

10. Preface and Introduction 

Tomoo Kikuchi and Sasidaran Gopalan 

Financial Inclusion in Asia: Issues and Policy Concerns, T. Kikuchi and S. Gopalan (eds), Palgrave Studies in Impact Finance, v-x, 2016.

11. Risk, Factor Substitution, and Asset Market Integration 

Volker Böhm, Tomoo Kikuchi and George Vachadze

Dynamik Internationaler Märkte, W. Franz, H. J. Ramser and M. Stadler (eds), Mohr Siebeck, 49-69, 2007.

12. Dynamics of Endogenous Business Cycles and Exchange Rate Volatility 

Tomoo Kikuchi and Volker Böhm 

Exchange Rate Modelling: Where Do We Stand?, P. De Grauwe (ed), MIT Press, 169-205, 2005.

Edited Volumes

1. Financial Cooperation in East Asia

Tomoo Kikuchi and Masaya Sakuragawa (eds) 

RSIS Monograph No. 34, 2019. 

2. China and Japan in the Global Economy 

Tomoo Kikuchi and Masaya Sakuragawa (eds) 

Routledge Studies in the Modern World Economy, 2018.

3. Evolving Finance, Trade and Investment in Asia

Tomoo Kikuchi (ed)

Routledge, 2017.

4. Financial Inclusion in Asia: Issues and Policy Concerns 

Tomoo Kikuchi and Sadidaran Gopalan (eds)

Palgrave Studies in Impact Finance, 2016.

Special Journal Issues

1. ASEAN Beyond the Pandemic

Tomoo Kikuchi and Lawrence Dacuycuy

DSLU Business & Economics Review, 32 (2), 2023.

2. Trade, Industrialization, and Structural Reform in Southeast Asia 

Tomoo Kikuchi (ed) 

Journal of Asian Economics, 55, 2018.

3. East Asia’s Growing Global Influence and Challenges in Finance and Trade

Tomoo Kikuchi (ed) 

Emerging Markets Finance and Trade, 53 (12), 2017.

4. Evolving Finance, Trade and Investment in Asia

Tomoo Kikuchi (ed) 

International Economic Journal, 30 (1), 2016. 

Republished as a book by Routledge, 2017.