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Comparative Study on Financial and Capital Markets in Japan and the United States, From Viewpoints of Implication of Crisis Management and Capital Formation Promotion Policies to the Welfare State

Research Project

Project/Area Number 06044012
Research Category

Grant-in-Aid for international Scientific Research

Allocation TypeSingle-year Grants
SectionJoint Research
Research InstitutionOtaru University of commerce

Principal Investigator

NAKAHAMA Takashi (1996)  Faculty of Commerce, Otaru University of Commerce, Associate Professor, 商学部, 助教授 (10217812)

井村 進哉 (井村 信哉) (1994-1995)  小樽商科大学, 商学部, 教授 (50176509)

Co-Investigator(Kenkyū-buntansha) ダリスタ ジェーン  ボストン大学, 法学部, 講師
リーブマン ランス  コロンビア大学, 法学部, 教授
ブルーム マーシャル  ペンシルバニア大学, ウォートンスクール, 教授
TATEIWA Toshikazu  Tokyo University of Agriculture, Associate Professor, 農学部, 助教授 (10192634)
秋山 義則  滋賀大学, 経済学部, 助教授 (70212454)
SHIBUYA Hiroshi  University of Tokyo, Professor, 商学部, 助教授 (00250530)
HOJO Hiroo  Japan Securities Research Institute, Senior Economist, 主任研究員
SUTO Megumi  Chuo University, Professor, 経済学部, 教授 (10206568)
渋谷 博史  東京大学, 社会科学研究所, 教授 (00226193)
IMURA Shinya  Chuo University, Professor, 経済学部, 教授 (50176509)
D'ARISTA Jane W  Boston University, Lecturer
LIEBMAN Lance  Columbia University, Professor
BLUME Marshall E  University of Pennsylvania, Professor
AKIYAMA Yoshinori  Shiga University, Associate Professor
ダリスタ ジェーン.W.  ボストン大学, 法学部, 教授
ブルーム マーシャル・E  ペンシルバニア大学, ウォートンスクール, 教授
中浜 隆  小樽商科大学, 商学部, 助教授 (10217812)
リーブーマン ランス  コロンビア大学, ロースクール, 教授
ブルーム マーシャル.E  ペンシルバニア大学, ウォートルスクール, 教授
Project Period (FY) 1994 – 1996
Project Status Completed (Fiscal Year 1996)
Budget Amount *help
¥15,600,000 (Direct Cost: ¥15,600,000)
Fiscal Year 1996: ¥4,900,000 (Direct Cost: ¥4,900,000)
Fiscal Year 1995: ¥5,500,000 (Direct Cost: ¥5,500,000)
Fiscal Year 1994: ¥5,200,000 (Direct Cost: ¥5,200,000)
Keywordscrisis management / financial regulation / welfare state / financial and capital market / policy finance / comparison between Japan and the United States / deposit insurance / pension and health care / 金融・証券規制 / 資本形成 / アフォーダブル・ハウジング / 年金 / 医療保険 / 農業 / 証券規制 / 金融危機管理
Research Abstract

This project have been carrying on the comparison of financial and capital markets and their influences on the welfare state system in Japan and the United States. Our standpoints are based on the following understanding about the recent trends of welfare state system and its circumstance in both countries. Those are ; (1) since 1980s, financial liberalization, securitization, and globalization in financial markets has produced the new developments of the market economy accompanied with problems such as the increasing risks in the financial markets and the lack or contortion of capital formation. (2) these trends have also been accompanied with the problems include the structural changes of the welfare state systems which include the permeation of market mechanism not only in the traditional fields of income redistribution systems such as pension and the health insurance systems, but also the filed of housing, community development, agriculture, and the financial crisis management syst … More ems.
Mainly through two international conferences held in 1994 and 1996, and through the books and discussion papers series of Otaru University, with cooperation of many scholars and researchers in Japan and the United States, our project have gotten the following common knowledge ; (1) the welfare state system should include the broader fields such as housing, community development, agriculture, and other areas related to social capital formation, as well as the traditional welfare system such as pension and health care systems, because some income-and resource reallocation by the public sectors could be recognized, (2) and in the period of apparent low growth and increasing fiscal deficit since 1980s, on one side, the traditional welfare state system accounted by special funds of public sectors where relatively apparent relations between cost-bearer and benefit-receiver exists has been forced to be restraint, but on the other side, in the broader welfare state system, however there have been existing the apparent evolution of the public sectors' intervention from the direct forms (direct subsidies, and direct loans) to indirect forms (financial guarantees, shift of responsibility of the policy from the central government to local governments, and even to private non-profit organizations, and privatization of government agencies, we saw also some adverse trends such as radical expansion of indirect public sectors' activities, and sudden fiscal burdens as the result of economic and financial risks. So we should conclude that at least at this time, welfare state system exists between the reverse pressures of easing fiscal burdens and avoiding the competitions with private entities, and growing needs of expanding the public sectors roles. Less

Report

(4 results)
  • 1996 Annual Research Report   Final Research Report Summary
  • 1995 Annual Research Report
  • 1994 Annual Research Report
  • Research Products

    (46 results)

All Other

All Publications (46 results)

  • [Publications] Hiroshi Shibuya: ""Small Government" in the 21st Century" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 26. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Lance Liebman: "The Aging United States Society and the Problems of Pension Law" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. (近刊).

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Takashi Nakahama: "Characteristics and Reforms of Public Health Insurance System in Japan" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 27. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Shinya Imura: "Financial Liberalization and Securitization in Housing Finance and the Changing Roles of the Government" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 33. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Yoshinori Akiyama: "The Role of Local Governments in Urban Development Policy" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 28. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Toshikazu Tateiwa: "Comparison of Agricultural Policy in the U.S.and Japan" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 30. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Jane W.D'Arista: "International Capital Flows and National Macroeconomic Policies" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 32. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Hiroshi Shibuya: "Government Expenditure and the Balance of Payments : Budget Deficit,Financial Integration,and Economic Diplomacy" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 35. (1996)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] 渋谷博史・井村進哉・中浜 隆(編): "日米の福祉国家システム" 日本経済評論社, 300 (1997)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Hiroshi Shibuya: ""Small Government" in the 21st Century" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 26. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Lance Liebman: "The Aging United States Society and the Problems of Pension Law" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. Forthcoming.

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Takashi Nakahama: "Characteristics and Reforms of Public Health Insurance System in Japan" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 27. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Shinya Imura: "Financial Liberalization and Securitization in Housing Finance and the Changing Roles of the Government" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 33. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Yoshinori Akiyama: "The Role of Local Governments in Urban Development Policy" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 28. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Toshikazu Tateiwa: "Comparison of Agricultural Policy in the U.S.and Japan" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 30. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Jane W.D'Arista: "International Capital Flows and National Macroeconomic Policies" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 32. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Hiroshi Shibuya: "Government Expenditure and the Balance of Payments : Budget Deficit, Financial Integration, and Economic Diplomacy" Discussion Paper Series, Institute of Economic Research, Otaru University of Commerce. 35. (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Hiroshi Shibuya, Shinya Imura and Takashi Nakahama (eds.): Nihon Keizai Hyoron, Inc.Welfare State System in Japan and the U.S., 1-300 (1997)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Hiroshi Shibuya: ""Small Governemt"in the 21st Century" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 26. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] Lance Liebman: "The Aging United States Society and the Problems of Pension Law" Discussion Paper Series,Institute of Economic Research,Otaru University of Commere. (近刊).

    • Related Report
      1996 Annual Research Report
  • [Publications] Takashi Nakahama: "Characteristics and Reforms of Public Health Insurance System in Japan" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 27. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] Shinya Imura: "Financial Liberalization and Securitization in Housing Finance and the Changing Roles of the Government" Discussion Paper Series,Institute of Economic Research,Otaru University of Commere. 33. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] Yoshinori Akiyama: "The Role of Local Governments in Urban Development Policy" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 28. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] Toshikazu Tateiwa: "Comparison of Agricultural Policy in the U.S.and Japan" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 30. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] Jane W.D'Arista: "International Capital Flows and National Macroeconomic Policies" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 32. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] Hiroshi Shibuya: "Government Expenditure and the Balance of Payments : Budget Deficit,Financial Integration,and Economic Diplomacy" Discussion Paper Series,Institute of Economic Research,Otaru University of Commerce. 35. (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] 渋谷博史・井村進哉・中浜隆(編): "日米の福祉国家システム" 日本経済評論社, 300 (1997)

    • Related Report
      1996 Annual Research Report
  • [Publications] 井村進哉: "金融システムの産業組織的特性とバブル・リスク-金融規制の日米比較-" 日米金融規制の再検討. 31-69 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] 渋谷博史: "アメリカの金融規制再編の歴史的分析" 日米金融規制の再検討. 1-30 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] 北條裕雄: "日本における金融システム再編と株式持合-金融規制の日米比較への合意-" 日米金融規制の再検討. 191-231 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] 渋谷 浩: "Implications of Balance Sheet Restructuring for the U. S. Business Cycle" 商学討究. 44. 231-256 (1994)

    • Related Report
      1995 Annual Research Report
  • [Publications] 中浜 隆: "アメリカにおける健康保険と保険会社の健康保険業務" 文研論集. 110. 79-129 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] マーシャル・E・ブルーム: "アメリカにおける株式保有-資本蓄積と規制-" 日米金融規制の再検討. 232-243 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] 井村進哉: "アメリカの貯蓄金融機関-コミュニティー・バンキングの再編と公的支援・規制を中心に-" 相沢幸悦・平川本雄 編『世界の貯蓄金融機関』(日本評論社). 129-158 (1996)

    • Related Report
      1995 Annual Research Report
  • [Publications] ジェーン・ダリスタ: "The Evolution of U. S. Finance Vol. I: Federal Reserve Monetary Policy" M. E. Sharp, 251 (1994)

    • Related Report
      1995 Annual Research Report
  • [Publications] ジェーン・ダリスタ: "The Evolution of U. S. Finance Vol. II: Restructuring Institutions and Markets" M. E. Sharp, 504 (1994)

    • Related Report
      1995 Annual Research Report
  • [Publications] 渋谷博史 北條裕雄 井村進哉 編著: "日米金融規制の再検討" 日本経済評論社, 270 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] 渋谷博史: "現代アメリカ連邦税制史" 丸善, 270 (1995)

    • Related Report
      1995 Annual Research Report
  • [Publications] Shinya Imura (井村信哉): ""A Comparison of Financial and Regulatory Structures in Japan and theU.S."" Draft at the Conference of Otaru University of Commerce. 25 (1994)

    • Related Report
      1994 Annual Research Report
  • [Publications] 井村進哉: "「銀行持株会社制度の導入について-金融システムの日米比較の視点から-」" 行財政総合研究所『行財政研究』. No.23. 34-41 (1995)

    • Related Report
      1994 Annual Research Report
  • [Publications] Hiroo Hojo (北条裕雄): ""The Legacy of the Bubble Economy: Decling Cross Shareholdings and Capital Formation"" Draft at the Conference of the Otaru University of Commerce. 40 (1994)

    • Related Report
      1994 Annual Research Report
  • [Publications] Hiroshi Shibuya (澁谷 浩): ""Implications of Balance Sheet Restructuring for the U.S. Business Cycle"" 小樽商科大学『商学討究』. 第44巻第4号. 231-256 (1994)

    • Related Report
      1994 Annual Research Report
  • [Publications] Marshall E.Blume: ""Stockownership in the U.S.:Capital Formation and Regulation"" Draft at the Conference of the Otaru University of Commerce. 13 (1994)

    • Related Report
      1994 Annual Research Report
  • [Publications] 井村進哉: "「アメリカの公信用と連邦信用計画」 龍昇吉編『現代の財政金融』第8章所収" 日本経済評論社, 20 (1995)

    • Related Report
      1994 Annual Research Report
  • [Publications] 井村進哉: "「金融システムの産業組織的特性とバブル・リスク…金融規制の日米比較…」 渋谷博史・北条裕雄・井村進哉編『日米金融規制緩和の再評価(仮題)』28HD02:1995" 日本経済評論社, 40

    • Related Report
      1994 Annual Research Report
  • [Publications] 渋谷博史: "「アメリカの金融規制再編の歴史的分析」 渋谷・北條・井村編『前掲書(仮題)』" 日本経済評論社, 27 (1995)

    • Related Report
      1994 Annual Research Report

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Published: 1994-04-01   Modified: 2016-04-21  

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