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Political affinity of China's One Belt One Road Initiative and the Asian Bond Market Initiative : International public goods and network theory

Research Project

Project/Area Number 18H00851
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Review Section Basic Section 07040:Economic policy-related
Research InstitutionAoyama Gakuin University

Principal Investigator

Shimada Junji  青山学院大学, 経営学部, 教授 (40383492)

Co-Investigator(Kenkyū-buntansha) 佃 良彦  東北大学, 経済学研究科, 名誉教授 (10091836)
宮越 龍義  法政大学, 理工学部, 教授 (60166139)
趙 来勲  神戸大学, 経済経営研究所, 教授 (70261394)
日置 史郎  東北大学, 経済学研究科, 教授 (80312528)
Project Period (FY) 2018-04-01 – 2022-03-31
Project Status Completed (Fiscal Year 2022)
Budget Amount *help
¥17,030,000 (Direct Cost: ¥13,100,000、Indirect Cost: ¥3,930,000)
Fiscal Year 2021: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2020: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2019: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2018: ¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Keywordsアジア金融市場 / ネットワーク理論 / 国際公共財 / 一帯一路政策 / 一路一帯政策 / アジア債券市場
Outline of Final Research Achievements

This study examines China's One Belt One Road Initiative and the Asian Bond Market Initiative from the perspectives of International public goods and network theory in financing. Research activities were conducted by the following four groups: the Status Quo Group, the Public Goods Theory Group, the Network Theory Group, and the Empirical and Policy Group. We also organized an international symposium on Asian economics and finance to build a research network.
Some of the results include the development of an international public goods model and a financial network model. We construct a two-public good model and simulate it using mixed integer programming and find that players offering two public goods at the same time are more likely to emerge. We also developed a financial network model and applied it to Asian countries for empirical analysis, which revealed that Singapore is an Asian financial center country.

Academic Significance and Societal Importance of the Research Achievements

国際的な経済・金融ネットワークの構築は多国間に便益を及ぼす国際公共財の提供であるが、そこには資金提供国、公共財の提供国とフリーライダー国、便益の受益国といった利害対立が存在しており、それが統一経済圏の確立を困難にしている。統一経済圏確立の試みが成功するかどうかの鍵はその利害関係の理論的・実証的解明にある。本研究の成果である2公共財モデルを用いた分析と金融ネットワーク分析はアジアにおける経済と金融ネットワークの構築において新たな知見を与えるものである。

Report

(5 results)
  • 2022 Final Research Report ( PDF )
  • 2021 Annual Research Report
  • 2020 Annual Research Report
  • 2019 Annual Research Report
  • 2018 Annual Research Report
  • Research Products

    (36 results)

All 2023 2022 2021 2020 2019 2018

All Journal Article (15 results) (of which Int'l Joint Research: 5 results,  Peer Reviewed: 13 results,  Open Access: 1 results) Presentation (17 results) (of which Int'l Joint Research: 6 results) Funded Workshop (4 results)

  • [Journal Article] Zero population growth rate and eldercare hours: Are both optimal for some European Union countries?2023

    • Author(s)
      Miyakoshi Tatsuyoshi
    • Journal Title

      Pacific Economic Review

      Volume: 29 Issue: 1 Pages: 1-23

    • DOI

      10.1111/1468-0106.12418

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed
  • [Journal Article] A Network Analysis on Country and Financial Center Attractiveness: Evidence from Asian Economies, 2001-20182023

    • Author(s)
      Tatsuyoshi Miyakoshi, Junji Shimada, Kui-Wai Li
    • Journal Title

      International Review of Economics and Finance

      Volume: (accepted)

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Network analysis of local currency Asian government bond markets: Assessments of the ABFI and the ABMI2022

    • Author(s)
      Miyakoshi Tatsuyoshi、Shimada Junji
    • Journal Title

      The North American Journal of Economics and Finance

      Volume: 62 Pages: 1-21

    • DOI

      10.1016/j.najef.2022.101729

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Export capacity constraints and distortions2022

    • Author(s)
      Feng Xiao、Wang Yongjin、Zhao Laixun
    • Journal Title

      Journal of Development Economics

      Volume: 157 Pages: 102889-102889

    • DOI

      10.1016/j.jdeveco.2022.102889

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Existence, Uniqueness, and Comparative Statics of Nash Equilibrium in a Game of Voluntary Public Good Provision with Two Public Goods2022

    • Author(s)
      Suzuki,K, Miyakoshi,T, Itaya,J and Yamanashi,A.
    • Journal Title

      Metroeconomica

      Volume: 73 Issue: 2 Pages: 567-582

    • DOI

      10.1111/meca.12375

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Search for a unique Nash equilibrium in two public goods games: mixed integer programming technique2022

    • Author(s)
      Suzuki Kenichi、Miyakoshi Tatsuyoshi、Itaya Jun-ichi、Yamanashi Akitomo
    • Journal Title

      Applied Economics Letters

      Volume: 29 Issue: 12 Pages: 1-5

    • DOI

      10.1080/13504851.2022.2075822

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed
  • [Journal Article] A simple model of the <i>Hukou</i> system and Chinese exports2021

    • Author(s)
      Zhao Laixun
    • Journal Title

      Review of International Economics

      Volume: 30 Issue: 2 Pages: 549-565

    • DOI

      10.1111/roie.12575

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Who is the Center of Local Currency Asian Government Bond Markets?2021

    • Author(s)
      Junji Shimada, Yoshihiko Tsukuda, Tatsuyoshi Miyakoshi
    • Journal Title

      Japan and the World Economy

      Volume: 59 Pages: 101075-101075

    • DOI

      10.1016/j.japwor.2021.101075

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed
  • [Journal Article] The Impact of Quantitative Easing and Carry Trade on the Real Estate Market in Hong Kong2020

    • Author(s)
      Tatsuyoshi Miyakoshi, Kui-Wai Li, Junji Shimada, Yoshihiko Tsukuda
    • Journal Title

      International Review of Economics and Finance

      Volume: 69 Pages: 958-976

    • DOI

      10.1016/j.iref.2020.05.006

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] How do business startup modes affect economic growth?2019

    • Author(s)
      Davis Colin、Zhao Laixun
    • Journal Title

      Canadian Journal of Economics/Revue canadienne d'?conomique

      Volume: 52 Issue: 4 Pages: 1755-1781

    • DOI

      10.1111/caje.12417

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Cultural Factors and Study Destinations of International Students2019

    • Author(s)
      Wei Hao、Yuan Ran、Zhao Laixun
    • Journal Title

      China & World Economy

      Volume: 27 Issue: 6 Pages: 26-49

    • DOI

      10.1111/cwe.12291

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Through Trade Wars, East Asians Finally Learning to Cooperate with Each Other?2019

    • Author(s)
      趙来勲
    • Journal Title

      China Economic Journal

      Volume: 印刷中

    • Related Report
      2018 Annual Research Report
    • Peer Reviewed
  • [Journal Article] “The Multivariate GARCH Model and Its Application to East Asian Financial Market Integration”2019

    • Author(s)
      Yoshihiko Tsukuda, Junji Shimada and Tatsuyoshi Miyakoshi
    • Journal Title

      Cheng Few Lee and John C Lee (eds.) “Handbook of Financial Econometrics, Mathematics, Statistics, and Machine Learning, Vol.4 (World Scientific)”

      Volume: 4

    • Related Report
      2018 Annual Research Report
  • [Journal Article] Platforms, Innovation and Capability Development in the Chinese Domestic Market2018

    • Author(s)
      John Humphrey, Ke Ding, Mai Fujita, Shiro Hioki, Koichiro Kimura
    • Journal Title

      The European Journal of Development Research

      Volume: 30 Pages: 408-423

    • Related Report
      2018 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] 雑貨と携帯電話における新興国市場の開拓と専業市場2018

    • Author(s)
      丁可, 日置史郎
    • Journal Title

      『中国・新興国ネクサス 新たな世界経済循環(末廣昭・田島俊雄・丸川知雄編著, 東京大学出版会)』9章所収

      Volume: - Pages: 325-344

    • Related Report
      2018 Annual Research Report
  • [Presentation] Risk quarantine policy in the international financial network system : a theoretical investigation2023

    • Author(s)
      Yoshihiko Tsukuda, Junji Shimada, Tatsuyoshi Miyakoshi
    • Organizer
      アジア経済シンポジウム
    • Related Report
      2021 Annual Research Report
  • [Presentation] Network analysis on trade globalization during the past 50 years2023

    • Author(s)
      Tatsuyoshi Miyakoshi, Junji Shimada, Yoshihiko Tsukuda
    • Organizer
      International Symposiumon Trade, Development and the Global Value Chain
    • Related Report
      2021 Annual Research Report
  • [Presentation] Climate Shocks and Exports: Evidence from China2023

    • Author(s)
      趙来勲
    • Organizer
      アジア経済シンポジウム
    • Related Report
      2021 Annual Research Report
  • [Presentation] Network analysis on trade globalization during the past 50 years2023

    • Author(s)
      Tatsuyoshi Miyakoshi, Junji Shimada, Yoshihiko Tsukuda
    • Organizer
      アジア経済シンポジウム
    • Related Report
      2021 Annual Research Report
  • [Presentation] 国際価値連鎖、イノベーションシステム、イノベーション成果:中国携帯電話産業の事例から2021

    • Author(s)
      日置史郎
    • Organizer
      アジア政経学会春季大会
    • Related Report
      2020 Annual Research Report
  • [Presentation] The Attractive Asian Country and Financial Center for Foreign Investment -Using a Network Analysis-2020

    • Author(s)
      Tatsuyoshi Miyakoshi, Junji Shimada
    • Organizer
      Western Economic Association International Conference
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] The Bystander Effect and Private Provision of Public Goods2020

    • Author(s)
      宮越龍義
    • Organizer
      Workshop on: Public Policies and Time Zones, 2020/2/26, Kobe University, Japan.
    • Related Report
      2019 Annual Research Report
  • [Presentation] Infrastructure bottlenecks and export mode2019

    • Author(s)
      趙来勲
    • Organizer
      the 7th conference on trade and development, 2019/6/1-2, Nankai University, China.
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Who is the Center of Local Currency Asian Government Bond Markets?2019

    • Author(s)
      佃良彦
    • Organizer
      SINGAPORE ECONOMIC REVIEW CONFERENCE 2019, 2019/8/5-7, The Mandarin Orchard Singapore, Singapore.
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] A Simple Model of the Hukou System and Chinese Exports2019

    • Author(s)
      趙来勲
    • Organizer
      Workshop on : Migration, Employment & Finance, 2019/10/7, Kobe University, Japan.
    • Related Report
      2019 Annual Research Report
  • [Presentation] Who is the Center of Local Currency Asian Government Bond Markets?2019

    • Author(s)
      佃良彦
    • Organizer
      Workshop on : Migration, Employment & Finance, 2019/10/7, Kobe University, Japan.
    • Related Report
      2019 Annual Research Report
  • [Presentation] Who is the Center of Local Currency Asian Government Bond Markets?2019

    • Author(s)
      佃良彦
    • Organizer
      2019 Asian Meeting of the Econometric Society, 2019/6/14-16, Xiamen University, Xiamen, China
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] The impact of political conflicts on regional agreements and trade2019

    • Author(s)
      趙来勲
    • Organizer
      International Workshop on "One Belt & One Road"(2019, 3, 25, 青山学院大学)
    • Related Report
      2018 Annual Research Report
  • [Presentation] Quantitative Easing and REIT Markets: Post-Crisis Development in Hong Kong’s Real Estate Price2019

    • Author(s)
      宮越龍義
    • Organizer
      The 16th East Asian Economic Association International Convention, was held on 27-28 October 2018, at the National Taiwan University in Taipei
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Who is a Center of LCY Asian Government Bond Markets?2019

    • Author(s)
      佃良彦
    • Organizer
      The 26th Conference on the Theories and Practices of Securities and Financial Markets at National Sun Yat-sen University, Taiwan, December 7-8, 2018
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Who is a Center of LCY Asian Government Bond Markets?2019

    • Author(s)
      宮越龍義
    • Organizer
      アジア経済シンポジウム(2018, 6, 2, 青山学院大学)
    • Related Report
      2018 Annual Research Report
  • [Presentation] Assessments of LCY Asian Government Bond Market: Network Analysis2019

    • Author(s)
      宮越龍義
    • Organizer
      International Workshop on "One Belt & One Road"(2019, 3, 25, 青山学院大学)
    • Related Report
      2018 Annual Research Report
  • [Funded Workshop] International Symposium on Trade and Green Environment2023

    • Related Report
      2021 Annual Research Report
  • [Funded Workshop] International Symposiumon Trade, Development and the Global Value Chain2023

    • Related Report
      2021 Annual Research Report
  • [Funded Workshop] Workshop on : Migration, Employment & Finance, 2019/10/7, Kobe University, Japan.2019

    • Related Report
      2019 Annual Research Report
  • [Funded Workshop] International Workshop on "One Belt & One Road"2019

    • Related Report
      2018 Annual Research Report

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Published: 2018-04-23   Modified: 2024-01-30  

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