2017 Fiscal Year Final Research Report
The New Financial Landscape in the post-AEC: Financial strategies to support production network of Japanese MNEs in the Mekong region
| Project/Area Number |
15K03565
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Money/ Finance
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| Research Institution | Kobe University |
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Principal Investigator |
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| Project Period (FY) |
2015-04-01 – 2018-03-31
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| Keywords | Financial Development / Production Network / Mekong region / Japanese MNEs / AEC |
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| Outline of Final Research Achievements |
Key findings include (1) The level of financial development in Myanmar, Laos and Cambodia is underdeveloped with banking sector being the backbone of financial system. (2) Financial markets in the Mekong region have been bank-dominated with banks playing key role in fund mobility and credit allocation. (3) Japanese bank presence is quite prominent in Thailand and Vietnam. (4) Japanese firms depend largely on services of their home country banks to support their production networks in the Mekong region. Financial sectors of less developed Mekong countries need more development to facilitate the integration of these economies into ASEAN production network. (5) Using a panel data of all countries in the world during 1960-2016, we find that banking sector development has differential effects on economic structure and growth. The positive effect of stock market development on economic growth is observed in Americas and Europe but not in Asia.
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| Free Research Field |
finance
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