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MBA-IB Faculty Profile |
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R. Taggart Murphy
Professor
International Adaptability Area
Teaching:
GM I : International Relations and Economics
GK III : International Financial Markets
GK IV : Financial Crices
M.B.A. Harvard University
A.B. Harvard College |
R. Taggart Murphy joined the Graduate School of Business Sciences at the University of Tsukuba in September, 2004. Previously, he had taught in the College of International Studies and Graduate School of International Political Economy at the University's main campus and has been a Senior Non-Resident Visiting Fellow at the Brookings Institution.
Before launching his academic career, he worked as an investment banker, serving as Vice President, Capital Markets Group at Goldman, Sachs (Japan) Corp. and Managing Director at Chase Manhattan Asia Limited. He was best known in the Tokyo financial markets for his role in developing the "kagonuke" lease, one of the most important financial products of the 1980s that permitted sovereigns, airlines, banks and industrial corporations world wide to raise billions of dollars from Japan's
non-bank financial institutions. In 1985, he arranged the longest term yen financing ever done by any issuer in any market and then broke that record for another issuer in 1987.
Professor Murphy's primary research interests are the political context of foreign exchange rate policy and economic aspects of the U.S.-Japan relationship. He is the author, with Akio Mikuni, of _Japan's Policy Trap_ (Brookings: 2002), named by the American Association of Publishers as the Best Scholarly and Professional Book in Economics for 2002 , and _The Weight of the Yen_ (Norton: 1996) listed by Business Week as one of the Ten Best Business Books of 1996 . Other recent writing includes East Asia's Dollars in "New Left Review" (July - August 2006) and Japan's Dollar Trap and the Impact of a Future Dollar Crisis on the Oil Economy in Global Markets and National Interests (Center for Strategic and International Studies, 2002). Earlier articles have appeared in such journals as "The Harvard Business Review", " Fortune", "The National Interest", and "The London Review of Books". He occasionally contributes to the op-ed page of "The New York Times" and has given guest lectures at Harvard, the United Nations University, the University of California at San Diego, the University of Oregon, Flinders University, EGADE (Tecnologico de Monterrey) and the University of Amsterdam. He is currently writing a book on how structural dependence on capital inflows from abroad has transformed American political and economic life. |
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