As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.

Fukui was Deputy Governor of BOJ from 2002 through 2003; and he became the new BOJ governor at the end of the five-year term of Masaru Hayami. He was the 29th Governor of the Bank of Japan (BOJ) and a Director of the Bank for International Settlements (BIS). Early life
Fukui was born in Osaka.

Toshihiko Fukui (福井俊彦 Fukui Toshihiko? September 7 1935–  ) is a Japanese economist and central banker.