Charles Horioka

Who is Charles Horioka?

Charles Yuji Horioka is a Japanese-American economist residing in the Philippines. Horioka received his B.A. and Ph.D. degrees from Harvard University and is currently Vea Family Professor of Technology and Evolutionary Economics Centennial at the University of the Philippines – School of Economics. Previously, he has taught at Stanford, Columbia, Kyoto, and Osaka Universities. He is also a Research Associate of the National Bureau of Economic Research and Co-Editor of the International Economic Review.

In his article with Martin Feldstein, "Domestic Saving and International Capital Flows", published in the Economic Journal in 1980, Horioka documented a positive correlation between long-term savings and investment rates across countries. This result has come to be known as the “Feldstein–Horioka Paradox or Puzzle” and the article is one of the most cited in international finance. His specialties are macroeconomics, the Japanese economy, and the Asian economies, and he has written numerous scholarly articles on consumption, saving, and bequest behavior and parent-child relations in Japan, the United States, China, India, Korea, and Asia more generally.