Richard Koo

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Richard C. Koo
GR bCFA 0012.jpg
Personal details
Born 1954
Kobe, Japan [1]

Richard C. Koo (Japanese: リチャード・クー, IPA: [ɽit͡ɕaːdo ku͍ː]; Chinese: 辜朝明; pinyin: Gū Cháomíng; born 1954) is a Taiwanese-American economist residing in Japan specializing in balance sheet recessions. He is Chief Economist at the Nomura Research Institute.[2][3]

Koo was born in Kobe. His father, Koo Kwang-ming, was an activist in the Taiwan independence movement then living in exile in Japan, and the brother of the prominent Taiwanese businessman Koo Chen-fu.[4] Koo lived in Tokyo for 13 years in his youth, attended the University of California, Berkeley and graduate school at Johns Hopkins University, and worked at the Federal Reserve Bank of New York before joining Nomura in 1984 as its first expatriate researcher.[5][6]

Saying Koo's 2011 "causes, cure, and politics" publication "has gone viral on the Web", Landon Thomas in the New York Times featured Koo's analysis in late 2011. Thomas was discussing the divergence between the way the U.S. and British governments addressed their banking crises in the 2008-9 financial crisis and the way Europe was beginning to do in late 2011.[7]


  • (2008) The Holy Grail of Macroeconomics - Lessons from Japan’s Great Recession (John Wiley & Sons)
  • (2011) "The world in balance sheet recession: causes, cure, and politics", real-world economics review (issue no. 58), Nomura Research Institute, Tokyo.
  • (2014) The Escape from Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy (John Wiley & sons)


  1. ^ "Richard Koo's Linkedin Profile". Retrieved 29 May 2016. 
  2. ^ "Desperate Measures". New Republic. 2010-10-29. Retrieved 2017-03-21. 
  3. ^ "Richard Koo's Awesome Presentation On The Real Reason Why This Recession Is Completely Different". Business Insider. Retrieved 2017-03-21. 
  4. ^ "蔡総統、リチャード・クー氏と経済・金融政策で意見交換 - エキサイトニュース" (in Japanese). Retrieved 2017-03-21. 
  5. ^ "未来創発センター | 野村総合研究所(NRI)". (in Japanese). Retrieved 2017-03-22. 
  6. ^ "「バブル後日本 世界が今学ぶ」リチャード・クー氏". (in Japanese). Retrieved 2017-03-21. 
  7. ^ Thomas, Landon, Jr., "Banks Retrench in Europe While Keeping Up Appearances" (limited no-charge access), The New York Times, December 22, 2011. Retrieved 2011-12-22.

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