| 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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| 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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