He graduated from the Faculty of Economics, Hitotsubashi University in 1973 and from the Graduate School of Economics in the same institute in 1975. He earned a Ph.D from Harvard University in 1979. He served as Deputy Vice Minister of Finance for International Affairs[1] from 1999 to 2001.
A renowned expert in the 1997 Asian financial crisis, his current research focuses on international monetary policy for which he advocates increased regional integration to prevent similar crises in the future. His views have been published in some of the world's most influential media, such as The Economist.[2] Ito was reportedly short-listed for the position of Governor of the Bank of Japan (BOJ) following Shinzo Abe's second election as Prime Minister of Japan (the position ultimately went to Haruhiko Kuroda).[3]
Cargill, Thomas F.; Hutchison, Michael M.; Ito, Takatoshi (1997). The Political Economy of Japanese Monetary Policy. Cambridge, Massachusetts: MIT Press. ISBN9780262032476.
Cargill, Thomas F.; Hutchison, Michael M.; Ito, Takatoshi (2001). Financial Policy and Central Banking in Japan. Cambridge, Massachusetts: MIT Press. ISBN9780262262101.