1987 Fiscal Year Final Research Report Summary
Economic Mechanisms and Economic Policies in the Information-oriented Society
| Project/Area Number |
61410016
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| Research Category |
Grant-in-Aid for General Scientific Research (A)
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| Allocation Type | Single-year Grants |
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| Research Field |
経済事情及び政策学
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
SHIONOYA Yuuichi Professor, Department of Economics, Hitotsubashi University, 経済学部, 教授 (50017521)
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| Co-Investigator(Kenkyū-buntansha) |
FUJINO Shozaburo Professor, Institute of Economic Research, Hitotsubashi University, 経済研究所, 教授 (10017650)
TAKEKUMA Shin-ichi Associate Professor, Department of Economics, Hitotsubashi University, 経済学部, 助教授 (10134876)
ONO Akira Professor, Department of Economics, Hitotsubashi University, 経済学部, 教授 (60054318)
MIYAZAWA Ken-ichi Professor, Department of Economics, Hitotsubashi University, 経済学部, 教授 (30017511)
ARA Kenjiro Professor, Department of Economics, Hitotsubashi University, 経済学部, 教授 (70017515)
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| Project Period (FY) |
1986 – 1987
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| Keywords | information / informational orientation / micro-electronization / information-oriented society / economic system / economic policy / competitiveness of market / announcement effect |
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| Research Abstract |
In the process of our joint researches, focussing on the various changes in several fields of the information-oriented society, we analised the effects of informational orientation on economic mechanisms and investigated their implications in economic policies. Informational orientation as a form of technological innovation has contributed much to our national welfare, but new types of economic polices have been required to cope with new changes in the society. In what follows, several important points in our researches will be summarized.
(1) Informational orientation does not necessarily expidite the competitions in markets. If informations are distribute unevenly and favorably to producers,protections for consumers will be needed. Enlargement of informational equipments might cause weeding out and systematization of small-to-medium-sized enterprises.
(2) Informational orientation and micro-electronization have reduced costs of financial transactions and induced changes in financial sy
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stems and patterns of financial intermediation. On the other hand, they have casued the instability of the money demand function, the disuse of money as a means of settlement, and thus the invalidation of monetary policies.
(3) International finacial markets have been tightly linkes by infromational orientation, and international capital movements have been activated. However, as a result, monetary sectors have been separated from real sectors, and polices of industrial structure adjustment have become less effective in every conutries.
(4) Informational networks enlarge the data bases of local governments and make them possible to give good services to the public. However, by virtue of announcement effects, people are inadequately guided, and it might be possible that a variety of cultures and ideas of people will be destroyed.
(5) By considering the significance of informational orientation in different economic systems, a very interesting result has been established. For example, Chinese economy is much less information-oriented, a sufficient amount of informations are not available in economic plannings. To compensate the lack of informations, it is necessary to introduce market mechanisms to economic reformation. Less
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