Research on the Statistical Compilation and Application of Global Flow of Funds

2019 Fiscal Year Final Research Report

• Project/Area Number: 16KT0185
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 特設分野
• Research Field: Global Studies
• Research Institution: Hiroshima Shudo University
• Principal Investigator: Zhang Nan 広島修道大学, 経済科学部, 教授 (20279061)
• Project Period (FY): 2016-07-19 – 2020-03-31
• Keywords: 国際資金循環 / 金融統計 / データベース / 統計マトリックス / Who-to Whom 行列 / 金融ネットワーク

Outline of Final Research Achievements

This research presents a new statistical approach to measure global flow of funds (GFF) and also establishes a new statistical model based on the economic theory of the GFF. This model depicts the structure and influence and sensitivity of the GFF at stock and flow levels. The approach is elaborated as are the requisite data sources; the structure and equilibrium relation of GFF matrix of 11 countries are subsequently detailed to provide a meaningful case study using a GFF matrix among three countries. GFF model, which builds on prior theoretical constructs in the research stage, is an innovation via its provision of an operational statistical system framework, is the core of the paper. That is, the data contained in GFF statistics make GFF a reality, enabling useful metrics contained in the statistical matrix of GGF; the External Asset and Liabilities Matrix for 2016. Clearly other financial instrument matrices can be constructed to meet the needs of policy-making authorities.

Free Research Field

金融統計

Academic Significance and Societal Importance of the Research Achievements

国際的な金融統計整備の動きに対応し、国際資金循環統計の試作に関する国際学会での研究報告に対して討論者（欧州中央銀行）からこの研究分野でのMilestoneと評価された。国際資金循環統計作成の理論的な枠組みと作成方法を開発したことによって、日米中を含むG20を対象とする「国家×国家」形式のGFFMに組み替え、新しい分析手法で国際資金循環の構造変化を体系的に計測し、GFF分析の視野を広げる。GFFの視座から独創的な分析手法で日米中三カ国のGFFMを作成し、理論の研究のみならず、実際の金融危機対策のために大きく貢献するものと思われる。