| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2010: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2009: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2008: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Research Abstract |
The purpose of this research has been to analyze the Chinese system entitled'socialist market economy', taking into consideration the'Chinese bubble'and the'function of Chinese futures market', focusing upon which we follow the occurrence and details of the phenomena and characteristic features of Chinese system. What we could recognize through this research are (1) the actual situation of Chinese challenges towards establishing the'modern state' and (2) the necessity to understand the details, current situations and prospects of Chinese transition and development model, from the (more concrete) theoretical framework of the'endogenous development model'. As is clarified with concentration on the'Shanghai bubble' (as a concrete example), the bases of it were (1) first, internally, existence of the competitive relations between central and local governments, and the distortion of valuation basis among them, and (2) second, externally, existence of disequilibrium of trade balance (particularly with the United States) and of (including cultural and political) frictions of China with advanced industrialized countries. The bubble phenomena of contemporary China which has been clear under such situations mentioned above seem to be rather difficult to be dealt effectively by the Chinese futures market, which has never been enough developed. It seems for us to be possible to be coped appropriately by the Chinese futures market to the'Chinese bubble', with satisfaction of such conditions as (1) Chinese appropriate policy on the capital markets, (2) Chinese development towards the'modern state', and (3) Chinese successful political and economic mechanism with the'endogenous development model', which means both (A) intensive growth model and (B) shared growth model are realized, and (4) Chinese practical use of Japanese lessons on'friction' and'bubble'.
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