Policy Research Institute

 

PRI Toics

(Provisional Translation)

Major activities in March

March 7: Held a Lecture titled “Demographic Challenges to Japan’s Fiscal Policy” (in Jakarta)

MATSUOKA Hiroyuki, Director-General of the Research and Administration Department, and MITSUMOTO Akiyo, Chief Economist of PRI, attended the ADBI-Indonesian Ministry of Finance Joint Workshop: "Effectiveness of Government Social Security Programs in Developing Asia." Director-General Matsuoka gave a lecture titled “Demographic Challenges to Japan’s Fiscal Policy“ as a speaker of Session 2: Fiscal Policy, Forecasting the Cost of Social Protection and Developing a Funding Strategy. Chief Economist Mitsumoto moderated Session 3: Country Presentations.

At this opportunity they met Mr. Rofyanto Kurniawan, Director of the Center of Budget Policy, Ministry of Finance Indonesia, shared information, and exchanged opinions with him.

 Group photo
March 8 to 10: Attended a conference of the Indian Council for Research on International Economic Relations (ICRIER)

PRI has been advancing research exchange with Indian research institutes. We visited Delhi, India, from March 8 (Wed) to 10 (Fri).

On the 8th (Wed) we attended an international conference named “Advancing India-Japan Economic Engagement” jointly hosted with the Indian Council for Research on International Economic Relations (ICRIER), which has exchanged a memorandum with PRI. From Japan, President Kim of Nomura Research Institute India, Mr. Sakamoto, Chief Representative of JICA India Office, and Professor Urata of Waseda University attended. The lectures attracted a lot of questions and a lively discussion.

At this opportunity, PRI exchanged opinions on future research exchange with the following major research institutes in Delhi.

  • National Council of Applied Economic Research (NCAER)
  • JICA India
  • Sumitomo Corporation India
  • Hitachi India
  • Yakult India
 President Kim of Nomura Research Institute serving as a speaker

[President Kim of Nomura Research Institute serving as a speaker]
March 12 to 18: Executive Vice President Saito visited Uzbekistan Meeting Officials of the government of Uzbekistan
and supporting Banking and Finance Academy (BFA)

Policy Research Institute (PRI) has been providing a variety of support to the Banking and Finance Academy (BFA), which is a training institution for young candidate-executives of the Uzbekistan Ministry of Finance and others as part of intelligent support for economies in transition.

Recently, Executive Vice President Saito visited Uzbekistan, met Deputy Prime-Minister Azimov and other officials of the government of Uzbekistan, Acting Rector Bekmuradov of BFA, and other people to exchange opinions on the collaborative relationship between Japan and Uzbekistan, the achievements of PRI’s support for BFA, future issues and other topics.

PRI Senior Research Fellow MUNENAGA Kensaku, who is the First Vice Rector of BFA, accompanied them and held selection interviews for BFA students hoping to attend the Seminar for Central Asian and Caucasian Countries scheduled to be held in Tokyo this summer, and gave a special lecture for BFA students.

 Chairman Abdullaev of the Uzbekistan Banking Association (left) and PRI Executive Vice President Saito at the UBA

[Chairman Abdullaev of the Uzbekistan Banking Association (left) and PRI Executive Vice President Saito at the UBA]

 Special lecture given by Senior Research Fellow Munenaga for BFA students

[Special lecture given by Senior Research Fellow Munenaga for BFA students]
March 15: meeting to read research papers written by visiting scholars

Ms. Suteera Sitong, who had been invited from the Ministry of Finance of Thailand and had been a visiting scholar of PRI, presented a paper on "Impact of the ASEAN Economic Community (AEC) on Foreign Direct Investment" on March 15.

 The meeting

[The meeting]
March 18: Implemented a lecture, “Current Status and Issues of ASEAN Economy
– Idea of Creating an International Organization –” (in Kyoto)

President NEMOTO Yoichi of PRI attended the third session of “Symposium Series 2: Towards Realization of an Evidence-based Society to Create Wealth” held by the Institute of Economic Research, Kyoto University, titled “Japan in Asia – On the Cutting Edge of Asian Economy and Finance” and gave a speech titled “Current Status and Issues of ASEAN Economy – Story of Creating an International Organization –.”

 The lecture1 The lecture2
March 22: Holding a Japan-China Finance and Economy Think Tank Forum

PRI and major Chinese research institutes have been engaging in research exchange in the field of economy and finance. On March 22, PRI held a Japan-China Finance and Economy Think Tank Forum jointly with the International Cooperation Center of the National Development and Reform Commission (ICC-NDRC) and the China Institute of Strategy & Management (CISM), which are major think tanks of China.

In the two sessions of this forum, speakers made presentations on issues surrounding international financing and management of the economy in an aging society with fewer children. Commentators provided comments on each presentation, which were followed by a discussion.

(Details of the forum will be posted on the website of PRI at a later date.)

 The Forum Greeting by President Nemoto
[The Forum]
[Greeting by President Nemoto]
 Commemorative photo with the International Cooperation Center of the National Development and Reform Commission and the China Institute of Strategy & Management
[Commemorative photo with the International Cooperation Center of the National Development and Reform Commission and the China Institute of Strategy & Management]

Workshops and other events in March

March 27: the Fourth China Research Conference in FY2016

At the fourth meeting, Ms. AOYAMA Rumi (Professor, Faculty of Education and Integrated Arts and Sciences, Waseda University) and Mr. KOKUBUN Ryosei (Chair of the Conference and President of the National Defense Academy of Japan) made presentations titled “Diplomatic Strategy of China” and “Recent Situation in China (March 2017)” respectively. The presentations were followed by a question and answer session and free discussion on the subject.

 The conference
[The conference]
March 28: the third meeting of "Workshop on Aging Population in Asian Countries and Its impact on
Fiscal Sustainability" (held jointly with the Asian Development Bank)

At the third meeting, reports were made by Dr. KONISHI Hideki (Professor, Faculty of Political Science and Economics, Waseda University) on “Redistribution in an Aging Society”, by Dr. Vu Quoc Huy (Head of Department, Viet Nam Academy of Social Sciences) on “Aging Population and Social Insurance Schemes in Viet Nam” and Ms. HAYASHI Reiko (Director, Department of International Research and Cooperation, National Institute of Population and Social Security Research) on “Demographic change and social security policy responses – the case of Japan–”. The reports were followed by a Q&A session on the subjects.

 The meeting
PRI published the full text of a report on “Workshop on investment strategies of enterprises – toward innovation.”

PRI held the “Workshop on investment strategies of enterprises – toward innovation” (chaired by Professor YANAGAWA Noriyuki of the Faculty of Economics, The University of Tokyo) from August to November of 2016 and compiled a report consisting of papers based on the discussions during the workshop.

The workshop analyzed the background of enterprises’ reluctance to invest, looked at the trend of recent innovations and expected future changes in the industrial structure associated with them, and discussed measures to promote active and strategic investments for further growth of Japanese enterprises.

During the workshop, suggestions were made on the increased importance of the investment in human and intangible assets as a result of the development of artificial intelligence and information technologies as well as the importance of an expanded network formation for corporate growth.

 From left: Workshop members Kim, Okamuro and Tanaka, Chairman Yanagawa, and members Miyazaki, Todo and Matsuo
(From left: Workshop members Kim, Okamuro and Tanaka, Chairman Yanagawa, and members Miyazaki, Todo and Matsuo)

 

Lunch Meeting

We invite people with diverse knowledge in and outside the organization to hear a broad range of leading-edge information so that we can obtain useful information across a broad spectrum contributing to the ministry's policy planning.

The following meetings were held in March.

 

March 14 (Tue)   Photo of Mr. NISHIKAWA Toru (President & CEO, Preferred Networks, Inc.)
Title:
 
Lecturer:
 
Deep Learning
The Driving Engine for The Internet of Things
Mr. NISHIKAWA Toru (President & CEO, Preferred Networks, Inc.)
 
March 29 (Wed)  Photo of Mike Kayamori (Co-Founder & CEO, QUOINE Corporation)
Title:
 
Lecturer:
 
Future of Finance - How Blockchain / Cryptocurrency shapes the Financial Industry
Mike Kayamori (Co-Founder & CEO, QUOINE Corporation)
 

 

PRI Workshop

Before publishing a discussion paper, PRI holds a PRI Workshop to discuss its content in the institute.

The following meetings were held in March.

March 24 (Fri)
Title:Introduction of papers written by trainees of the financial economics program, which are scheduled for publishing as DP
Presenter:ORIHARA Masanori (PRI Economist)
 
Title:Impact of Tax System on Foreign Investment
- Impact of Corporate Income and Withdrawing Tax Rates in Japan in Transition to an International Taxation System -
Presenter:TANAKA Takuma, Chief of the Planning section, International Organizations Division, the International Bureau
 
Title:Investment and Financing of Japanese Firms
Presenter:FUKUMOTO Wataru (Researcher, PRI), TAKAHASHI Hideyuki (Researcher, PRI)

 

Discussion Paper in March

Title
Author
J-liquidity Measure: the Term Structure of the Liquidity Premium and the Decomposition of the Municipal Bond Spread (PDF:1096KB)PDFHATTORI Takahiro, Researcher, Research and Administration Department, PRI
The Socialist Banking System: Its Past, Present and Constraints(PDF:1504KB)PDF (Japanese only)HONMA Masaru, Senior Visiting Researcher, PRI
Corporate income tax rate and foreign direct investment: Evidence from a comparison of international tax systems(PDF:1068KB)PDF (Japanese only)ADACHI Naoya, Minister’s Secretariat, Ministry of Finance
Does swap-covered interest parity hold in long-term capital markets after the financial crisis?(PDF:1220KB)PDFHATTORI Takahiro, Researcher, Research and Administration Department, PRI

 

Publication in March

 

PRI TOPICS (monthly)