| Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Outline of Final Research Achievements |
My research analyzed how uncoordinated macroeconomic policies and financial supervision within Europe impacted financial stability in that region and discussed the extent to which the global financial crisis and euro crisis led to improvement of European coordination in financial stability policies. In particular, my research focused on variegated integration patterns in financial and currencies policies in Europe. My research findings include that in the 1980s and 90s before the recent crises, a type of integration of creating new institutions at the regional level to correct market failures was delayed compared to a type of integration of removing national barriers to create more trade and investment, thus resulting in negative impact on financial stability. Moreover, this project examined post-crisis reforms, which intended to address such problems, and discussed the extent to which newly-created institutions could be effectively utilized to enhance financial stability.
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