2020 Fiscal Year Research-status Report
The Law, Politics and Economics of Financial Benchmarks
| Project/Area Number |
20K13438
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| Research Institution | Waseda University |
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Principal Investigator |
Seddon Jack 早稲田大学, 政治経済学術院, 准教授(任期付) (00865800)
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| Project Period (FY) |
2020-04-01 – 2024-03-31
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| Keywords | Benchmarks / Oil and energy / Financial markets / Institutional change / Price reporting agencies / Comparative analysis |
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| Outline of Annual Research Achievements |
This year has involved preparation of background materials for the project. I have conducted several interviews with market participants (around ten in total). These have been representatives from price reporting agencies (PRAs) and also commodity market exchanges that establish benchmark prices. I am in the process of hiring a new research assistant to look into the role of PRAs in China and also Japan. Here I have identified an interesting set of institutional differences between financial benchmarks in Asia and Europe that I believe will become a central focus for my work going forward. I intend to focus on this point of difference within the context of benchmarks in oil and energy markets in particular.
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| Current Status of Research Progress |
Current Status of Research Progress
2: Research has progressed on the whole more than it was originally planned.
Reason
The research has progressed in the last year broadly as planned. I had planned for more international travel than has been possible. However I have managed to substitute for this in most cases with virtual conferences and meetings. The project will now enter a more intensive phase as I have managed to identify my most important research questions and a more precise orientation for the project.
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| Strategy for Future Research Activity |
This year I intend to move into the second phase of the project. This will involve doing intenstive comparative historical and institutional research on the role of PRAs in various countries. I intend to hire a research assistant to help support this work. They will focus on collecting data on China and Japan.
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| Causes of Carryover |
I was able to do less travel than planned so I used a little less than was first intended. I am now planning to hire a research assistant to take forward the second phase of my research.
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