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How to Control Global Imbalance

Research Project

Project/Area Number 23330106
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Public finance/Monetary economics
Research InstitutionKobe University

Principal Investigator

FUJITA Seiichi  神戸大学, 経済学研究科(研究院), 教授 (40135778)

Co-Investigator(Kenkyū-buntansha) MATSUBAYASHI Yoichi  神戸大学, 大学院・経済学研究科, 教授 (90239062)
KITANO Shigeto  神戸大学, 経済経営研究所, 准教授 (00362260)
INOGUCHI Masahiro  京都産業大学, 経営学部, 准教授 (60387991)
IOKIBE Shingo  同志社大学, 商学部, 准教授 (30411060)
FUKUMOTO Yukio  大阪経済大学, 経済学部, 准教授 (60411386)
HOSHIWAKA Takeshi  近畿大学, 経済学部, 准教授 (20467674)
SHIBAMOTO Masahiko  神戸大学, 経済経営研究所, 講師 (80457118)
YAMAMOTO Shugo  山口大学, 経済学部, 講師 (70593599)
Project Period (FY) 2011-11-18 – 2014-03-31
Project Status Completed (Fiscal Year 2013)
Budget Amount *help
¥11,180,000 (Direct Cost: ¥8,600,000、Indirect Cost: ¥2,580,000)
Fiscal Year 2013: ¥5,850,000 (Direct Cost: ¥4,500,000、Indirect Cost: ¥1,350,000)
Fiscal Year 2012: ¥5,330,000 (Direct Cost: ¥4,100,000、Indirect Cost: ¥1,230,000)
Keywordsグローバル・インバランス / 国際資金フロー / リージョナル・インバランス / 世界金融危機 / 欧州金融機関 / ユーロ危機 / 国際資本フロー / 貯蓄・投資バランス / 国際通貨システム / 為替相場政策 / ドル不足
Research Abstract

In this project, we tried to examine the feasibility of the global imbalance adjustment both theoretically and empirically. The emergence of huge external imbalances in the world economy had been a peculiar phenomenon in 2000s. Consequently, the research fields include not only the change of current account but also the movements of flow of funds from net and gloss sides and transmission mechanism of macroeconomic policy in the advanced economy. Our research member held a research meeting on a regular basis and made progress in our studies.
This project was finally succeeded as a publication of the academic book titled The empirical study of Global money flow: the new challenging subject after financial crisis. In this book we gained success to investigate empirically the possibility and feasibility of the global imbalance from various perspectives and it has draws many academicians'attention.

Report

(4 results)
  • 2013 Annual Research Report   Final Research Report ( PDF )
  • 2012 Annual Research Report
  • 2011 Annual Research Report
  • Research Products

    (42 results)

All 2014 2013 2012 2011 Other

All Journal Article (22 results) (of which Peer Reviewed: 16 results) Presentation (16 results) (of which Invited: 1 results) Book (4 results)

  • [Journal Article] グローバル金融危機とドル流動性2014

    • Author(s)
      松林洋一
    • Journal Title

      国民経済雑誌

      Pages: 49-65

    • Related Report
      2013 Final Research Report
  • [Journal Article] Transmission of US Financial and Trade Shocks to Asian Economies2014

    • Author(s)
      YAMAMOTO Shugo
    • Journal Title

      The North American Journal of Economics and Finance

      Pages: 88-103

    • Related Report
      2013 Final Research Report
    • Peer Reviewed
  • [Journal Article] Transmission of US Financial and Trade Shocks to Asian Economies2014

    • Author(s)
      Shugo YAMAMOTO
    • Journal Title

      The Nrth Jpurnal of Economics and Finance

      Volume: 27 Pages: 88-103

    • Related Report
      2013 Annual Research Report
    • Peer Reviewed
  • [Journal Article] A note on the yen/dollar rate without foreign exchange intervention2013

    • Author(s)
      HOSHIKAWA Takeshi and YAMAGUCHI Keiko
    • Journal Title

      Applied Economic Letters

      Pages: 238-243

    • Related Report
      2013 Final Research Report
    • Peer Reviewed
  • [Journal Article] 日本におけるバラッサ, サミュエルソン効果の構造変化2013

    • Author(s)
      山本周吾
    • Journal Title

      金融経済研究

      Volume: 35号 Pages: 1-15

    • NAID

      120005351887

    • Related Report
      2013 Final Research Report
    • Peer Reviewed
  • [Journal Article] Sudden Stop and Trade Balance Reversal after Asian Crisis2013

    • Author(s)
      YAMAMOTO Shugo
    • Journal Title

      Journal of Policy Modeling

      Pages: 750-765

    • Related Report
      2013 Final Research Report
    • Peer Reviewed
  • [Journal Article] Structual Change in the External Balance Response to Macroeconomic Policies2013

    • Author(s)
      YAMAMOTO Shugo
    • Journal Title

      Review of International Economics

      Pages: 1021-1031

    • Related Report
      2013 Final Research Report
    • Peer Reviewed
  • [Journal Article] 日本におけるバラッサ・サミュエルソン効果の構造変化2013

    • Author(s)
      山本周吾
    • Journal Title

      金融経済研究

      Volume: 35 Pages: 1-15

    • NAID

      120005351887

    • Related Report
      2013 Annual Research Report
    • Peer Reviewed
  • [Journal Article] An Optimum Government Spending Reversal Rule in a Small Open Economy2013

    • Author(s)
      Shigeto KITANO and Kenya TAKAKU
    • Journal Title

      International Review of Economics and Finance

      Volume: 27 Pages: 374-382

    • Related Report
      2013 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Structural Change in the External Balances Response to Macroeconomic Policies2013

    • Author(s)
      Shugo YAMAMOTO
    • Journal Title

      Review of International Economics

      Volume: 21 Pages: 1021-1031

    • Related Report
      2013 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Sudden Stop and Tradfe Balance Reversal after Asian Crisis2013

    • Author(s)
      Shugo YAMAMOTO
    • Journal Title

      Journal of Policy Modelling

      Volume: 35 Pages: 750-765

    • Related Report
      2013 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Do Faster Growing Economies Run Current Account Deficits?2013

    • Author(s)
      Shingo IOKIBE
    • Journal Title

      同志社商学

      Volume: 64-5 Pages: 476-496

    • Related Report
      2012 Annual Research Report
  • [Journal Article] Reexamining thr Relationship between Net Foreign Assets and Current Account2013

    • Author(s)
      Shingo IOKIBE
    • Journal Title

      同志社商学

      Volume: 64-6 Pages: 476-492

    • Related Report
      2012 Annual Research Report
  • [Journal Article] ユーロ圏危機と域内不均衡 : ユーロ圏の構造問題2012

    • Author(s)
      藤田誠一
    • Journal Title

      経済

      Pages: 137-148

    • Related Report
      2013 Final Research Report
  • [Journal Article] 対外不均衡と国際資金フロー : グローバル, インバランス論を超えて2012

    • Author(s)
      松林洋一
    • Journal Title

      貝塚啓明+財務省財務総合研究所『国際的なマネーフロー研究』(中央経済社)

      Pages: 97-125

    • Related Report
      2013 Final Research Report
  • [Journal Article] Structural Change in Current Account and Real Exchange Rate Dynamics2012

    • Author(s)
      KITANO Shigeto and SHIBAMOTO Masahiko
    • Journal Title

      Pacific Economic Review

      Pages: 619-634

    • Related Report
      2013 Final Research Report
    • Peer Reviewed
  • [Journal Article] ユーロ危機と域内不均衡:ユーロ圏の構造問題2012

    • Author(s)
      藤田誠一
    • Journal Title

      経済

      Volume: 202 Pages: 137-148

    • Related Report
      2012 Annual Research Report
  • [Journal Article] Nonperforming Loans and Public Asset Management Companies in Malaysia and Thailand2012

    • Author(s)
      Masahiro INOGUCHI
    • Journal Title

      asia Pacific Economic Papers

      Volume: 398 Pages: 1-30

    • Related Report
      2012 Annual Research Report
    • Peer Reviewed
  • [Journal Article] The International Transmission of Price Levels during the Classical Gold Standard Period2012

    • Author(s)
      Yukio FUKUMOTO and Tomoko KINUGASA
    • Journal Title

      EconModels

      Volume: no number Pages: 1-21

    • Related Report
      2012 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Structural Change in the External Response to Macroeconomic Policies2012

    • Author(s)
      Shugo YAMAMOTO
    • Journal Title

      Review of International Economics

      Volume: (掲載決定)

    • Related Report
      2011 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Exchange Rate,Expected Profit and Capital Stock Adjustment : Japanes Experience2011

    • Author(s)
      Yoichi MATSUBAYASHI
    • Journal Title

      Japanese Economic Review

      Volume: 62 Pages: 215-247

    • Related Report
      2011 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Capital Control and Welfare2011

    • Author(s)
      Shigeto KITANO
    • Journal Title

      Journal of Macroeconomics

      Volume: 33 Pages: 77-85

    • NAID

      120005464741

    • Related Report
      2011 Annual Research Report
    • Peer Reviewed
  • [Presentation] Spillover of the US Financial Crisis on Asian Economies : Financial Linkages versus Trade Linkages2013

    • Author(s)
      山本周吾
    • Organizer
      日本国際経済学会全国大会
    • Place of Presentation
      横浜国立大学
    • Year and Date
      2013-10-13
    • Related Report
      2013 Final Research Report
  • [Presentation] 国際資金フロー, 欧州金融機関, グローバル金融危機2013

    • Author(s)
      松林洋一
    • Organizer
      日本金融学会秋季大会, 国際金融パネル『国際資金フローとグローバル金融危機』
    • Place of Presentation
      名古屋大学
    • Year and Date
      2013-09-21
    • Related Report
      2013 Final Research Report
  • [Presentation] The Impact of Monetary Policy Decisions and Communication on Financial Markets2013

    • Author(s)
      SHIBAMOTO Masahiko
    • Organizer
      Asia-Pacific Economic Association 9th Annual Conference
    • Place of Presentation
      Osaka University
    • Year and Date
      2013-07-28
    • Related Report
      2013 Final Research Report
  • [Presentation] The Potential Welfare Benefit ofCapital Controls2013

    • Author(s)
      KITANO Shigeto
    • Organizer
      The Korea Money & Finance Association
    • Place of Presentation
      Sungkyunkwan University
    • Year and Date
      2013-06-15
    • Related Report
      2013 Final Research Report
  • [Presentation] ビッグマック価格は国際的な価値尺度になりえるか2013

    • Author(s)
      福本幸男
    • Organizer
      日本金融学会春季大会
    • Place of Presentation
      一橋大学
    • Year and Date
      2013-05-26
    • Related Report
      2013 Final Research Report
  • [Presentation] ビッグマック価格は国際的な価格尺度になりえるか2013

    • Author(s)
      福本幸男
    • Organizer
      日本金融学会春季大会
    • Place of Presentation
      一橋大学
    • Related Report
      2012 Annual Research Report
  • [Presentation] ユーロ危機とアジア : その影響と教訓2012

    • Author(s)
      藤田誠一
    • Organizer
      アジア政経学会
    • Place of Presentation
      広島県立大学
    • Year and Date
      2012-06-09
    • Related Report
      2013 Final Research Report
  • [Presentation] 景気動向と個人デフォルトの関係について階層ベイズマネルプロビットモデルによる検証2012

    • Author(s)
      松林洋一
    • Organizer
      日本金融学会秋季大会
    • Place of Presentation
      北九州市立大学
    • Related Report
      2012 Annual Research Report
  • [Presentation] アジア通貨危機と貿易収支の逆転2011

    • Author(s)
      山本周吾
    • Organizer
      日本金融学会春季大会
    • Place of Presentation
      明治大学
    • Year and Date
      2011-05-28
    • Related Report
      2011 Annual Research Report
  • [Presentation] 国際資金フロー・欧州金融機関・金融危機

    • Author(s)
      松林洋一・藤田誠一・北野重人
    • Organizer
      日本金融学会秋季大会
    • Place of Presentation
      名古屋大学
    • Related Report
      2013 Annual Research Report
  • [Presentation] Spillover od US Financial Crisis on Asian Economies

    • Author(s)
      山本周吾
    • Organizer
      日本国際経済学会全国大会
    • Place of Presentation
      横浜国立大学
    • Related Report
      2013 Annual Research Report
  • [Presentation] The Potential welfare Benefit of Capital Controls

    • Author(s)
      北野重人
    • Organizer
      The Korea Money and Finance Association
    • Place of Presentation
      Sungkyunkwan University(韓国)
    • Related Report
      2013 Annual Research Report
  • [Presentation] Impacts of Monetary policy Decisions and Cpmmunication on Financial Markets in a Low Interest Rate Environment

    • Author(s)
      柴本昌彦
    • Organizer
      Asia-Pacific Economic Association 7th Annual Meeting
    • Place of Presentation
      大阪大学
    • Related Report
      2013 Annual Research Report
  • [Presentation] ユーロ危機とアジア:その原因と影響

    • Author(s)
      藤田誠一
    • Organizer
      アジア政経学会西日本部会(共通論題)
    • Place of Presentation
      広島市立大学
    • Related Report
      2012 Annual Research Report
  • [Presentation] Transmission Phenomenon of the Global Financial Crisis in Asian Countries

    • Author(s)
      Masahiro INOGUCHI
    • Organizer
      日本金融学会国際金融部会
    • Place of Presentation
      神戸大学梅田オフィス
    • Related Report
      2012 Annual Research Report
  • [Presentation] 国際的な相互依存の進化と東アジア経済Global VARによる検証

    • Author(s)
      松林洋一
    • Organizer
      内閣府日中韓協同シンポジウム『世界経済の構造転換が東アジア経済に与える影響』
    • Place of Presentation
      内閣府
    • Related Report
      2012 Annual Research Report
    • Invited
  • [Book] グローバル, マネーフローの実証分析2014

    • Author(s)
      藤田誠一, 松林洋一, 北野重人
    • Total Pages
      217
    • Publisher
      ミネルヴァ書房
    • Related Report
      2013 Final Research Report
  • [Book] グローバル・マネーフローの実証分析2014

    • Author(s)
      藤田誠一・松林洋一・北野重人
    • Total Pages
      221
    • Publisher
      ミネルヴァ書房
    • Related Report
      2013 Annual Research Report
  • [Book] 現代国際金融論(第4版)2012

    • Author(s)
      上川孝夫, 藤田誠一
    • Total Pages
      451
    • Publisher
      有斐閣
    • Related Report
      2013 Final Research Report
  • [Book] Global Linkages and Economic Rebalancing in East Asia2012

    • Author(s)
      Yoichi MATSUBAYASHI, Takuji KINKYO, Shigeyuki HAMORI
    • Total Pages
      213
    • Publisher
      World Scientific
    • Related Report
      2012 Annual Research Report

URL: 

Published: 2013-05-15   Modified: 2019-07-29  

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