1990 Fiscal Year Final Research Report Summary
International Comparative Study on the Effects of Mutual Advance of Financial Institutions on Financial Markets in Pacific Basin Countries
| Project/Area Number |
01530054
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| Research Category |
Grant-in-Aid for General Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Kobe University |
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Principal Investigator |
ISHIGAKI Kenichi Kobe University, Research Institute for Economics and Business Administration, Professor, 経済経営研究所, 教授 (40047486)
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| Co-Investigator(Kenkyū-buntansha) |
JINUSHI Toshiki Kobe University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (60171089)
IZAWA Hideki Kobe University, Research Institute for Economics and Business Administration, A, 経済経営研究所, 助教授 (80159657)
MIKITANI Ryoichi Kobe University, Faculty of Economics, Professor, 経済学部, 教授 (30030670)
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| Project Period (FY) |
1989 – 1990
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| Keywords | Pacific Basin Area / liberalization of finance / foreign banks in Japan / Japanese banks in foreign countries / globalization of finance / financial innovation / financial friction / financial system |
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| Research Abstract |
The purposed of our research are ; (1) to clarify the actual state of the mutual advance of financial institutions which constitutes an important part of the globalization of finance among the four Pacific Basin countries (Japan, the United States, Canada, and Australia), (2) to anlyze empirically the effects of mutual advance of financial institutions on both financial markets and financial systems including barriers between financial business conditions, and (3) to compare them internationally and propose some policy implications on how mutual advance of financial institutions and financial systems should be in common to every country. We could achieve the following results. Ishigaki's paper (1989) clarifies similarities and differences between foreign banks in Japan and Japanese banks in the U. S. and U. K., and reasons of financial friction from the aspects of system and bank behavioor. And Ishigaki's Paper (1990) deals with issues on monetary policy including stability of the financial system resulting from liberalization of finance in Australia. In Mikitani's paper (1989), financial innovation and deregulation as preconditions of mutual advance of banks are compared between Japan and U. S.. In Jinushi's paper (1991) the recent change in the financial system in Canada is described. Finally, in Izawa's paper (1991), considering economic and monetary unification in the EC, insight is given on its relation to the financial institutions and system in Japan. Through these researches, we conclude that the trend of financial globalization is inevitable and integration of financial markets will progress.
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