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Tokyo Fiscal Forum
“Fiscal Policy for Long-Term Growth and Sustainability in Aging Societies”

Policy Research Institute (PRI), IMF (Fiscal Affairs Department), and Asian Development Bank Institute (ADBI) had Tokyo Fiscal Forum “Fiscal Policy for Long-Term Growth and Sustainability in Aging Societies” on June 10-11, 2015, Tokyo, Japan.

 

Date : June 10   10:00-17:45

          June 11   10:00-17:00

Venue : Mita Conference Hall (Auditorium)

Agenda : English(PDF:213KB) • Japanese(PDF:196KB) 

DAY1 – WEDNESDAY, JUNE 10

10:00-10:40

Opening Session

Opening Statement

Ichiro Miyashita (State Minister of Finance, Japan)(PDF:53KB) 

Keynote Addresses

1. Keimei Kaizuka (Honorary President, Policy Research Institute, Ministry of Finance, Japan)(PDF:24KB) 

2. Mitsuhiro Furusawa (Deputy Managing Director, IMF)(PDF:193KB) 

3. Naoyuki Yoshino (Dean, Asian Development Bank Institute)

11:00-13:00

Session 1: Long-Term Growth and Fiscal Sustainability in Asia: Challenges and Long-Term Prospects
・Moderator

Sharmini Coorey (Director, Institute for Capacity Development, IMF)

・Presenters - Overview

1. Masahiro Kawai (Senior Research Fellow, Policy Research Institute, Ministry of Finance, Japan / Project Professor, The University of Tokyo (Ex-Dean of Asian Development Bank Institute))

“Long-Term Fiscal Sustainability in Emerging Asia: Challenges and Strategies”(PDF:1773KB) 

2. Sanjeev Gupta (Deputy Director, Fiscal Affairs Department, IMF)

“Fiscal Policy and Long-Term Growth”(PDF:425KB) 

・Presenters – Country/Policy

1. Rapeesupa Wangcharoenrung (Assistant Director, The Fiscal Policy Research Institute, Ministry of Finance, Thailand)

“Long-Term Projections of Public Finance in Thailand”(PDF:1152KB) 

2. Mitsuteru Nakayama (Director for Fiscal Affairs, Budget Bureau, Ministry of Finance, Japan)

“Fiscal Policy in Japan - Issues and Future Directions -”(PDF:1058KB) 

3. Per Eckefeldt (Deputy Head of Unit, Sustainability of Public Finances, Directorate General for Economic and Financial Affairs, European Commission)

“Long-Term Projections of Public Finance in European Countries”(PDF:846KB) 

・Discussants

1. Mitsuhiro Fukao (Professor, Keio University)

2. Rofyanto Kurniawan (Director, Fiscal Policy Agency, Ministry of Finance, Indonesia)(PDF:433KB) 

(Q&A)
  

14:30-16:00

Session 2: Challenges in Expenditure: Social Spending in Aging Societies
・Moderator

José Luis Escrivá (President, Independent Authority for Fiscal Responsibility, Spain)

・Presenters - Overview

1. Sanjeev Gupta (Deputy Director, Fiscal Affairs Department, IMF)

“Macro-Fiscal Implications of Aging”(PDF:716KB) 

2. Donghyun Park (Principal Economist, Economics Research and Regional Cooperation Department, Asian Development Bank)

“Fiscal Policy for Inclusive Growth in Asia”(PDF:261KB) 

・Presenters – Country/Policy

1. Xuejin Zuo (Research Professor, Institute of Economics, Shanghai Academy of Social Sciences)

“Pension Reform in China”(PDF:231KB) 

2. Chaw Min Chen (Deputy Secretary General(Finance), Ministry of Health, Malaysia)

“Health Spending: The Malaysian Experience”(PDF:2037KB) 

3. Hisakazu Kato (Chair of Long-Term Care System Workshop, Policy Research Institute, Ministry of Finance, Japan / Professor, Meiji University)

“Sustainability of Long-Term Care System in Japan”(PDF:1154KB) 

・Discussants

1. Masako Ii (Professor, Hitotsubashi University)(PDF:104KB) 

2. Michael Stolpe (Senior Economist, Globalization and the Welfare State, Kiel Institute for The World Economy)(PDF:882KB) 

(Q&A)
  

16:15-17:45

Session 3: Revenue Challenges in Aging Societies
・Moderator

Govinda Rao (Emeritus Professor, National Institute of Public Finance and Policy, India)

・Presenters - Overview

1. Alan Auerbach (Professor, University of California at Berkeley)

“Tax Policy Options for Aging Societies”(PDF:46KB) 

2. Junji Ueda (Advisor, Fiscal Affairs Department, IMF)

“Tax Policy Options for Aging Societies”(PDF:447KB) 

・Presenters – Country/Policy

1. Joosung Jun (Professor, Ehwa Womans University)

“Tax Reform for Aging Societies in Korea”(PDF:729KB) 

2. Hiroshi Yoshikawa (Senior Research Fellow, Policy Research Institute, Ministry of Finance, Japan / Professor, The University of Tokyo)

“Revenue Challenges in Aging Societies”(PDF:848KB) 

・Discussants

1. Shigeki Kunieda (Senior Research Fellow, Policy Research Institute, Ministry of Finance, Japan / Associate Professor, Hitotsubashi University)(PDF:264KB) 

2. Ekniti Nitithanprapas (Deputy Director-General Acting International Economic Policy Advisor, Fiscal Policy Office, Ministry of Finance, Thailand)

(Q&A)
  

DAY2 – THURSDAY, JUNE 11

10:00-12:00

Session 4: Challenges in Expenditure: Sustainability in Public Investment Spending
・Moderator

Vissoth Vongsey (Secretary of State, Ministry of Economy and Finance, Cambodia)

・Presenters - Overview

1. Gerd Schwartz (Deputy Director, Institute for Capacity Development, IMF)

“Toward More Efficient Public Investment”(PDF:363KB) 

2. Naoyuki Yoshino (Dean, Asian Development Bank Institute)

Victor Pontines (Research Fellow, Research Department, Asian Development Bank Institute)

“Micro-Impact Evaluation of Infrastructure Projects: Case Study of the STAR tollway in the Philippines”(PDF:2714KB) 

・Presenters – Country/Policy

1. Rathin Roy (Director, National Institute of Public Finance and Policy, India)

“Challenges in Expenditure: Sustainability in Public Investment Spending – Indian Experience”(PDF:413KB) 

2. Kangsoo Kim (Exective Director, Public and Private Infrastructure Investment Management Center, Korea Development Institute)

“Policies for Managing Public Investment Spending in Korea”(PDF:1280KB) 

3. Rosario G. Manasan (Research Fellow, Philippine Institute for Development Studies)

“Sustainability and Efficiency of Public Investment Spending in the Philippines: Challenges and Opportunities”(PDF:310KB) 

・Discussants

1. Anand Rajaram (Governance Practice Leader, World Bank)(PDF:136KB) 

2. Hee Kong Yong (Senior Fellow, Institute of Strategic and International Studies, Malaysia)(PDF:270KB) 

(Q&A)
  

13:30-15:10

Session 5: Anchoring Fiscal Policies and Managing Fiscal Risks at National and Subnational Government Levels
・Moderator

Masahiro Kawai (Senior Research Fellow, Policy Research Institute, Ministry of Finance, Japan / Project Professor, The University of Tokyo (Ex-Dean of Asian Development Bank Institute))

・Presenters - Overview

1. Naoyuki Yoshino (Dean, Asian Development Bank Institute)

Farhad Taghizadeh-Hesary (Assistant Professor, Keio University)

Testsuro Mizoguchi (Associate Professor, Reitaku University)

“Fiscal Stability Condition Faced with Population Aging”(PDF:2108KB) 

2. Gerd Schwartz (Deputy Director, Institute for Capacity Development, IMF)

“Managing Fiscal Risk”(PDF:392KB) 

・Presenters – Country/Policy

1. Nobuyuki Uda (Director-General of Research and Co-ordination Department, Policy Research Institute, Ministry of Finance, Japan)

“Japan: Fiscal Discipline of Local Governments”(PDF:1964KB) 

2. Ning Zhu (Deputy Dean, Shanghai Advanced Institute of Finance / Professor, Shanghai Jiaotong University / Faculty Fellow, Yale University ICF / Special Term Professor, Peking University / Special Term Professor of Finance, UC Davis)

“China’s Fiscal Sustainability: Problems around the Corner?”(PDF:114KB) 

・Discussants

1. José Luis Escrivá (President, Independent Authority for Fiscal Responsibility, Spain)(PDF:598KB) 

2. Govinda Rao (Emeritus Professor, National Institute of Public Finance and Policy, India)(PDF:209KB) 

3. Motohiro Sato (Professor, Hitotsubashi University)(PDF:333KB) 

(Q&A)
  

15:30-17:00

Round Table Discussion: General Lessons Learned
・Moderator

Sanjeev Gupta (Deputy Director, Fiscal Affairs Department, IMF)

・Participants

1. Jaewan Bahk (Former Ministry of Strategy and Finance / Professor, Sungkyunkwan University)

2. Ma.Teresa Habitan (Assistant Secretary, Department of Finance, Corporate Affairs Group, Philippines)

3. Mastura Abdul Karim (Deputy Undersecretary, Fiscal and Economic Division, Ministry of Finance, Malaysia)

4. Rathin Roy (Director, National Institute of Public Finance and Policy, India)

5. Daikichi Momma (President, Policy Research Institute, Ministry of Finance, Japan)