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Financial Development Model for the Greater Mekong Subregion (GMS): what can the GMS countries learn from more advanced countries?

Research Project

Project/Area Number 18K01685
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07060:Money and finance-related
Research InstitutionKobe University

Principal Investigator

TONGURAI JITTIMA  神戸大学, 経営学研究科, 教授 (80740084)

Project Period (FY) 2018-04-01 – 2023-03-31
Project Status Completed (Fiscal Year 2022)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2020: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2019: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2018: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
KeywordsFinancial development / Banking sector / Debt market / Stock market / Financial openness / Financial liberalization / Economic development / Greater Mekong Subregion / Banking sector stability / Financial markets / emerging markets / Less developed countries
Outline of Final Research Achievements

4 research articles and 1 book chapter were published with key findings.

(1) The financial services business in the GMS market, especially in Thailand and Vietnam, has great potential and good prospects for growth. (2) Financial openness is positively associated with financial development, particularly the banking sector and stock market development. (3) Each aspect (i.e., depth, access, and efficiency) of financial institution and financial market development is conditional upon the level of a country's economic development. (4) Financial development in terms of efficiency is more important to banking sector stability while developing countries can benefit more from financial deepening. (5) By studying the case of Japan, bank regulation plays a significant role in determining bank risk-taking and it has a spillover effect on how banks respond to changes in bank competition. The research results were disseminated to scholars and students through course and conference presentations.

Academic Significance and Societal Importance of the Research Achievements

本研究は、金融および経済分野の文献と知識に貢献しています。更に、研究結果はGMS諸国の政策立案者が金融開発政策を策定する際に役立つ重要な政策的含意を持っています。本研究の成果は、日本とタイの学者や学生に共有されました。

Report

(6 results)
  • 2022 Annual Research Report   Final Research Report ( PDF )
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • 2018 Research-status Report
  • Research Products

    (16 results)

All 2023 2022 2021 2020 2019 2018 Other

All Int'l Joint Research (5 results) Journal Article (5 results) (of which Int'l Joint Research: 4 results,  Peer Reviewed: 2 results) Presentation (6 results) (of which Int'l Joint Research: 3 results,  Invited: 3 results)

  • [Int'l Joint Research] Sunway University(マレーシア)

    • Related Report
      2022 Annual Research Report
  • [Int'l Joint Research] Thammasat Business School/Chulalongkorn University/Prince of Songkla University(タイ)

    • Related Report
      2021 Research-status Report
  • [Int'l Joint Research] Sunway University Business School(マレーシア)

    • Related Report
      2021 Research-status Report
  • [Int'l Joint Research] Chulalongkorn University/Mahidol University(タイ)

    • Related Report
      2020 Research-status Report
  • [Int'l Joint Research] Sunway University(マレーシア)

    • Related Report
      2020 Research-status Report
  • [Journal Article] Financial openness and financial market development2023

    • Author(s)
      Tongurai, J., & Vithessonthi, C.
    • Journal Title

      Journal of Multinational Financial Management

      Volume: 67 Pages: 100782-100782

    • DOI

      10.1016/j.mulfin.2023.100782

    • Related Report
      2022 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Financial development and banking sector stability2020

    • Author(s)
      Tongurai, J., Lertwachara, K., and Boonchoo, P.
    • Journal Title

      国民経済雑誌

      Volume: 222(3) Pages: 33-49

    • NAID

      120007153049

    • Related Report
      2020 Research-status Report
    • Int'l Joint Research
  • [Journal Article] Bank regulations, bank competition and bank risk-taking: evidence from Japan2020

    • Author(s)
      Tongurai, J., and Vithessonthi, C.
    • Journal Title

      Journal of Multinational Financial Management

      Volume: 56 Pages: 100638-100638

    • DOI

      10.1016/j.mulfin.2020.100638

    • Related Report
      2020 Research-status Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Financial Development: Disaggregate Analysis of Financial Depth, Financial Access and Financial Efficiency2018

    • Author(s)
      Tongurai, J., Lertwachara, K., & Suwanragsa
    • Journal Title

      国民経済雑誌

      Volume: 218-5 Pages: 49-64

    • NAID

      120006770381

    • Related Report
      2018 Research-status Report
    • Int'l Joint Research
  • [Journal Article] Financial services business in Thailand and the CLMV market2018

    • Author(s)
      Tongurai, J
    • Journal Title

      Fujioka, T. eds., 新興国市場と日本企業, 同友館

      Volume: - Pages: 29-59

    • Related Report
      2018 Research-status Report
  • [Presentation] Firm internationalization: Japanese multinational corporations in the GMS (Greater Mekong Subregion) market2022

    • Author(s)
      Tongurai, J.
    • Organizer
      Cross-cultural organizational behavior course, 学習院大学
    • Related Report
      2022 Annual Research Report
    • Invited
  • [Presentation] Business Disruption and Transformation: Financial Services Sector and FinTech in Japan2022

    • Author(s)
      Tongurai, J.
    • Organizer
      Course on Economic of Business Disruptive and Transformations, Faculty of Economics, Chulalongkorn University
    • Related Report
      2021 Research-status Report
    • Invited
  • [Presentation] Firm Internationalization: Japanese Multinational Corporations in the GMS Market2021

    • Author(s)
      Tongurai, J.
    • Organizer
      Course on China and ASEAN Business Practices, Panyapiwat Institute of Management
    • Related Report
      2021 Research-status Report
    • Invited
  • [Presentation] Discussant, A paper on “Media, Partisan Ideology, and Corporate Social Responsibility"2021

    • Author(s)
      Tongurai, J.
    • Organizer
      The Fourth Conference on CSR, the Economy and Financial Markets organized by Global Finance Journal, Development Bank of Japan and Japan Economic Research Institute
    • Related Report
      2021 Research-status Report
    • Int'l Joint Research
  • [Presentation] Bank Regulations, Bank Competition and Bank Risk-Taking: Evidence from Japan2020

    • Author(s)
      Tongurai, J., & Vithessonthi, C.
    • Organizer
      Academy of Finance 2020 Conference, Chicago, USA, (the conference was cancelled because of the coronavirus pandemic.)
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research
  • [Presentation] Financial Development and Banking Sector Stability2019

    • Author(s)
      Tongurai, J., Lertwachara, K., & Boonchoo, P
    • Organizer
      WEAI(Western Economic Association International)'s 15th International Conference
    • Related Report
      2018 Research-status Report
    • Int'l Joint Research

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

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