| Project/Area Number |
16203023
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| Research Category |
Grant-in-Aid for Scientific Research (A)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Kobe University |
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Principal Investigator |
FUJITA Seiichi Kobe University, Graduate School of Economics, Professor (40135778)
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| Co-Investigator(Kenkyū-buntansha) |
KUBO Hiromasa Kobe University, Graduate School of Economis, Professor (80314459)
OGAWA Eiji Hitotsubashi Univ, Graduate School of Business, Professor (80185503)
YOSHII Masahiko Kobe University, Graduate School of Economics, Professor (80191542)
KRAWCZYK Mariusz Ryukoku Univ, Faculty of Economics, Professor (70299535)
白井 早由里 慶應義塾大学, 総合政策学部, 教授 (80306886)
河合 正弘 東京大学, 社会学研究所, 教授 (30186051)
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| Project Period (FY) |
2004 – 2007
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| Project Status |
Completed (Fiscal Year 2007)
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| Budget Amount *help |
¥27,560,000 (Direct Cost: ¥21,200,000、Indirect Cost: ¥6,360,000)
Fiscal Year 2007: ¥5,460,000 (Direct Cost: ¥4,200,000、Indirect Cost: ¥1,260,000)
Fiscal Year 2006: ¥5,980,000 (Direct Cost: ¥4,600,000、Indirect Cost: ¥1,380,000)
Fiscal Year 2005: ¥6,890,000 (Direct Cost: ¥5,300,000、Indirect Cost: ¥1,590,000)
Fiscal Year 2004: ¥9,230,000 (Direct Cost: ¥7,100,000、Indirect Cost: ¥2,130,000)
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| Keywords | EU Enlargement / euro / optimum currency area / New-member countries / ERM-II / currency crisis / Balassa- Samuelson effect / Asian monetary system / 欧州中央銀行 / バラッサ・サミュエルソン / マーストリヒト条約 / ERM2 |
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| Research Abstract |
Following is the research findings.
1. Possibility of currency crisis
The possibility of currency crises is relatively low compared with EMS crisis in 92-93, because the new-member countries are forced to satisfy all convergence criteria of Maastricht Treaty, and also the ERM-II is flexible in the determination of the band. Balassa- While Samuelson effect is very strong in new-member countries, these institutional framework can save them from currency crisis.
2. EU enlargement and its impacts on real economy
EU enlargement has had the strong effects of large volume of FDI from original members to new members and had synchronized the business cycle of EU members. (endogeneity of optimum currency area).
3. The international roles of the euro
The international roles of the euro has been developed since introduction of the euro in the fields of both public and private use in global dimension. But the euro has a paradox that the more the number of countries in Euro Area, the less is the international roles of the euro. In considering the future roles of the euro the most important point of view is foreign exchange rate systems of Asian countries.
4. The conference and publication
We have organized a research member including scholars in Euro Area and new member countries and had held many conferences and seminars in Japan. We are preparing the Book titled Europe at 28: the Enlargement of the Eurozone and its impacts on real economy.
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