The impact of commodity prices and capital flow variations on exchange rate policy
| Project/Area Number |
24530250
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | Kobe University |
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Principal Investigator |
KINKYO Takuji 神戸大学, 経済学研究科(研究院), 教授 (50527637)
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| Project Period (FY) |
2012-04-01 – 2015-03-31
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| Project Status |
Completed (Fiscal Year 2014)
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| Budget Amount *help |
¥5,070,000 (Direct Cost: ¥3,900,000、Indirect Cost: ¥1,170,000)
Fiscal Year 2014: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2013: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2012: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Keywords | 資源価格 / 資本移動 / マクロ経済安定政策 / アジア金融協力 / 為替レート / 資本流入 / 資源国 / 金融協力 / 資源価格変動 / 金融ショック波及 / 金融制度改革 / 為替レート政策 / 資本流入管理 |
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| Outline of Final Research Achievements |
Some of the major finding of the study can be summarized as follows. First, the financial linkages and business cycle synchronization has become stronger in the Asian-Pacific region. Second, the flexibility of exchange rate regimes has increased and equity markets have become more globally and regionally integrated in East Asia. Third, a financial shock is a key determinant of international oil prices and its macroeconomic impact is as important as the impact of other underlying shocks, such as the demand shock. Fourth, although there has been a remarkable progress in East Asia’s regional financial cooperation, its key role as a complementary system for the existing international financial systems should be maintained.
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Report
(4 results)
Research Products
(19 results)
