Masaru Hayami was a Japanese

Japanese people

The are an ethnic group originating in the Japanese archipelago and are the predominant ethnic group of Japan. Worldwide, approximately 130 million people are of Japanese descent; of these, approximately 127 million are residents of Japan. People of Japanese ancestry who live in other countries...

 businessman, central banker, the 28th Governor of the Bank of Japan

Bank of Japan

is the central bank of Japan. The Bank is often called for short. It has its headquarters in Chuo, Tokyo.-History:Like most modern Japanese institutions, the Bank of Japan was founded after the Meiji Restoration...

 (BOJ) and a Director of the Bank for International Settlements

Bank for International Settlements

The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...

 (BIS).

Early life

Hayami was born in Hyogo Prefecture

Hyogo Prefecture

is a prefecture of Japan located in the Kansai region on Honshū island. The capital is Kobe.The prefecture's name was previously alternately spelled as Hiogo.- History :...

. He graduated from The Tokyo College of Commerce (now Hitotsubashi University

Hitotsubashi University

is a national university specialised in the social sciences in Tokyo, Japan. The University has campuses in Kunitachi, Kodaira, and Kanda.Hitotsubashi is considered as one of the most prestigious universities in Japan. It is ranked 25th in the world in 2011 by École des Mines de Paris.Hitotsubashi...

) in 1947.

Career

Hayami was Chief Executive Officer of the Nissho Iwai Corporation,

He served as Governor of the Bank of Japan from March 20, 1998 to March 19, 2003. He took over the top BOJ role in 1998, after Governor Yasuo Matsushita

Yasuo Matsushita

was a Japanese businessman, central banker, the 27th Governor of the Bank of Japan and a Director of the Bank for International Settlements .-Early life:Matsushita was born in Hyogo prefecture...

 and Deputy Governor Toshihiko Fukui

Toshihiko Fukui

is a Japanese economist and central banker. He was the 29th Governor of the Bank of Japan and a Director of the Bank for International Settlements . -Career:...

 resigned in connection with a scandal involving leaks of financially sensitive information.

Controversy

Hayami was a controversial BOJ governor because he insisted Japanese politicians must change the structure of the economy before the BOJ could take further measures to end deflation.

He fiercely resisted politicians' demand to loosen monetary policy, thereby increasing the pressure on politicians to reduce stifling regulation, monopolies, and oligopolies in various economic sectors. This strategy stressed Japan's long-term economic health over the short term problems of deflation and recession.

Selected works

In a statistical overview derived from writings by and about Masaru Hayami, OCLC

OCLC

OCLC Online Computer Library Center, Inc. is "a nonprofit, membership, computer library service and research organization dedicated to the public purposes of furthering access to the world’s information and reducing information costs"...

/WorldCat

WorldCat

WorldCat is a union catalog which itemizes the collections of 72,000 libraries in 170 countries and territories which participate in the Online Computer Library Center global cooperative...

encompasses roughly 9 works in 9 publications in 1 language and 20+ library holdings.

• 海図なき航海の時代: 変動相場制10年 (1982)
• 円が尊敬される日 (1995)
• 国際収支 (1997)
• 中央銀行の独立性と金融政策 (2004)
• 強い円強い経済 = Strong yen, strong economy (2005)