2004 Fiscal Year Final Research Report Summary
The Comparative Study between Japanese Financial System and Asian Financial System Transformed by the Impact of Globalization
| Project/Area Number |
14530064
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
経済政策(含経済事情)
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| Research Institution | Meiji Gakuin University (2003-2004)
Osaka City University (2002) |
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Principal Investigator |
NAKAO Shigeo Meijigakuin University, Economics, Professor, 経済学部, 教授 (70164126)
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| Project Period (FY) |
2002 – 2004
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| Keywords | Asia / Capital Markets / Bad Loan Business / Chinese Development / Japanese Money / Non Asia Directed / East Asian Community / American Model |
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| Research Abstract |
This research assessed the validity of the American model, the so called US New Economy, which emerged in the 1990s. Its seeming success, as can be seen in the IT industry and NASDAQ in the role of a capital market leader, proves to be misleading when looking at many social contradictions that exist in the US, such as the stark contrast between the prosperity of IT venture business and investors enjoying high prices of stock market and a sharp increase in a number of low-wage workers working at the fast food restaurants and supermarket industries.
Traditional Asian values and capitalism based on Confucianism prevailed in Asia until the Asian financial crisis in 1997. Since then, Asia as a whole has welcomed a more market oriented economy, which symbolized the revival of the US economy in 1990s. Meanwhile, Chinese has leveraged its export competitiveness and huge population to exercise over Asian countries since the 1980s. Through these trends, the East Asian community has entering into a new dynamic phase. This research addresses how Japan should take initiative in the new economic situation surrounding Asia in the era of globalization, because Japan faces a big turning point in terms of how to look at Asia in the world.
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Research Products
(14 results)
