| Budget Amount *help |
¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2014: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Outline of Final Research Achievements |
This study evaluates the effects of capital account liberalization (capital controls) and exchange rate regimes on economic performances using microeconometric policy evaluation methods. Especially, I investigate the effect of capital account liberalization on economic growth using a difference-in-differences (DID) approach (DID with inverse-probability weighted regression-adjustment estimator). Moreover, I examine the causal effect of pegged regimes on fiscal discipline using a synthetic control method. From the results, I find that capital account liberalization significantly increases economic growth when the world economy is booming. While I find heterogeneous treatment effects of pegged regimes on fiscal discipline, pegged regimes (currency unions), on average, enhance fiscal discipline.
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