Contents
Messages from the Chairman
and the President
01
Overview of Fiscal 2014
Activities
02
Research Activities/
Research Programs
List of Research Projects
Discussion Papers &
Policy Discussion Papers
07
08
About RIETI
45
Public Relations Activities 53
Publications
54
Website
57
Publicity Materials
58
Symposiums
59
Workshops & Seminars
63
BBL Seminars
71
List of Fellows
74
Organization & Others
81
The Research Institute of Economy, Trade and Industry (RIETI), an
incorporated administrative agency, was established on April 1, 2001
to conduct extensive policy research and formulate policy
recommendations. Levering its location in Kasumigaseki, RIETI
takes full advantage of the synergy among policymakers,
researchers, industry leaders, and other stakeholders. RIETI has
developed an excellent reputation both in Japan and abroad for its
evidence-based theoretical and empirical research, working in
synergy with policy authorities.
RIETI has set up an overall framework of research themes to respond
to policymaking needs. Within this overall framework, fellows
undertake their own research in a free atmosphere, building organic
linkages with other current research. Furthermore, RIETI
incorporates the knowledge and insights of outside experts into its
research through symposiums and other forums. RIETI thus
contributes to policy debates and formulation through the built-in
Abbreviations
synergy in its research and its proactive dissemination of its research,
RIETI：Research Institute of Economy, Trade and Industry, IAA
leading to policy recommendations. For the realization of a flexible
METI：Ministry of Economy, Trade and Industry
and interdisciplinary research environment, a diverse group of
CRO：Chief Research Officer
SRA：Senior Research Advisor
fellows are engaged in research at RIETI. In addition to full-time
fellows, RIETI also appoints part-time fellows consisting of Faculty
Fellows who concurrently hold positions at universities and
PD：Program Director
Consulting Fellows who concurrently hold positions at METI, other
SF：Senior Fellow
ministries, government agencies and organizations.
F：Fellow
FF：Faculty Fellow
The world is changing at a blistering pace. To deal with these
CF：Consulting Fellow
changes and build a Japanese society that is mature as well as
VF：Visiting Fellow
VS：Visiting Scholar
energetic, Japan needs to craft policy backed by research that breaks
out of conventional frameworks. RIETI will continue to provide
theoretical backing and knowledge networks efficiently and
RC：Research Coordinator
effectively to authorities in their work to formulate policy. We will
RAs：Research Associate
continue to work toward our mission of strengthening and improving
the quality of policymaking capacities and helping to invigorate
policy discussions.
Messages from the Chairman and the President
The Japanese economy in fiscal 2014 started on a sluggish tone following the consumption tax rate hike in
April, but the decline subsequently began showing signs of bottoming out as a weak yen and low crude oil
prices helped boost corporate earnings. In fiscal 2015, the upward wage trend is continuing, and the economy is
on a solid recovery path.
However, despite the upturn in economic performance, the Japanese economy remains fraught with many
challenges. Weighted by mounting deficits, Japan’s fiscal health is in a serious condition. Many structural
problems, including demographic challenges of low fertility and an aging population, remain largely
unaddressed. The vitality of businesses has improved in tandem with the economic recovery. However, in
order to further invigorate the business sector, the government needs to lift unnecessary restrictions to reduce
constraints on business activities. It is also crucial for companies to pursue organizational reform and address
other management issues.
In fiscal 2014, we continued to conduct research in a wide range of policy areas including the economy and
finance, social security, human capital, energy and the environment, and international trade, which resulted in a
large number of research papers. Also, as part of our efforts to disseminate our research findings, we hosted or
co-hosted symposiums and seminars on topical economic subjects as well as other themes such as productivity,
human capital, and energy.
We are also placing a significant emphasis on our collaboration with overseas research institutes as well as on
the development of databases for areas relevant to our research such as the economy, industry, and livelihood,
and those databases are made available to researchers including those outside RIETI. In fiscal 2014, we
updated and expanded the existing databases. We also hosted an international symposium that presented
research findings based on data collected in the Japanese Study of Aging and Retirement (JSTAR) survey, a
large-scale panel survey of Japanese elderly people, which has been carried out four times so far.
In fiscal 2015, we continue to focus on key economic issues both within and outside Japan, conducting research
that contributes to economic and industrial policy making — the very mission of RIETI — and delivering
research findings in a timely manner.
Lastly, on behalf of RIETI, I would like to thank all who have supported us and ask for your continued support
and encouragement.
May 2015
NAKAJIMA Atsushi
Chairman
Under the third medium-term plan covering the five-year period starting in April 2011, RIETI has established
its mission to undertake theoretical and empirical research to create a grand design of putting the Japanese
economy on a growth path and solidifying sustainable growth in the future. In fiscal 2015, which is the end
of the five-year period, we will conduct research activities by invariably keeping in mind our three Priority
Viewpoints: (1) incorporating the growth of the world economy, (2) developing new growth areas, and (3)
responding to changes in society and creating new economic and social systems for sustainable growth.
The first viewpoint reflects the importance of incorporating the growth of the world economy—particularly
emerging Asia that has achieved remarkable development in recent years—to promote trade, investment,
and business activities by leveraging Japan's scientific and technological capabilities. The second viewpoint
represents the importance of theoretically and empirically analyzing research and development (R&D) policy
and productivity improvement as a way to help develop new growth industries, particularly in areas related to
green innovation and life innovation, by taking advantage of Japan's strength and social conditions. Finally,
the third viewpoint exhibits the importance of overcoming a range of constraints we face today, such as low
birthrate and an aging population, deteriorating fiscal health, the need to protect the environment, as well as
building sound economic and social systems able to meet the changing needs of society in an effort to support
the sustainable growth of our country.
Cognizant of these three Priority Viewpoints, we have been comprehensively conducting research that is
conducive to ensuring our country's sustainable growth this century in close collaboration with researchers
from outside RIETI, policymakers in Japan, as well as with overseas researchers including those from other
Asian countries, the United States, and Europe.
Amid the rapid development of globalization and technological innovation, RIETI will dedicate itself to
advancing research from the mid- and long-term points of view on the grounds that Japan will be able to strive
for a new goal of economic development accompanied by recovery from damage due to the Great East Japan
Earthquake.
May 2015
FUJITA Masahisa
President
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
01
Overview of
Fiscal 2014 Activities
The five years from fiscal 2011 to fiscal 2015
constitute the period of RIETI's 3rd medium-term
plan, in which RIETI's primary mission is to provide
theoretical support for a grand design to put the
Japanese economy firmly on a growth track. To
Three Priority Viewpoints on economic and industrial
policies to be kept in mind when carrying out research
activities:
(1) Incorporating growth of the world economy;
(2) Developing new growth areas; and
(3) Responding to changes in society and creating new
economic and social systems for sustainable growth
Research Programs
in Fiscal 2014
Program Director
No. of Research Projects
under the Program
WAKASUGI Ryuhei, FF
8
II
International Trade and
investment
International
Macroeconomics
ITO Takatoshi, FF
5
under each of which multiple research projects are
III
Regional Economies
HAMAGUCHI Nobuaki, FF
5
conducted.
IV
Technology and Innovation
NAGAOKA Sadao, FF
7
V
Raising Industrial and
Firm Productivity
FUKAO Kyoji, FF
7
VI
New Industrial Policy
OHASHI Hiroshi, FF
7
VII
Human Capital
TSURU Kotaro, FF
7
VIII
FUKAO Mitsuhiro, FF
7
TAKEDA Haruhito, FF
3
accomplish this mission, RIETI has established a
I
research framework of nine research programs,
In fiscal 2014, the fourth year of the 3rd medium-term
plan, RIETI’s previously commenced research went
even deeper. Additionally, while keeping an eye on
actively conducted research and disseminated
IX
Social Security, Taxation,
and Public Finance
Policy History and
Policy Assessment
inding concerning a wide
id range of policy
research findings
SP
Special Projects
developments in the economy in Japan and abroad, we
2014
6
Total number of
Research Projects
trad policy,
y, financing,
finan
fields, including trade
corporate
62
p
uctivity, energy, human
h man capital,
capita and social
productivity,
s
rity.
security.
h and publicc relations
The following are the rresearch
vities RIETI introduced
introd
n fiscal
fisc 2014
014
activities
in
(titles and affiliations are as of the day of the events).
(tit
1.
Research Activities
1.1 Deepening of the research framework
In the 3rd medium-term plan, RIETI put in place nine research
programs covering a broad range of policy areas, including trade
policy, industrial policy, and economic policy, bearing in mind at
all times of the three priority viewpoints on the economic and
industrial policies indicated below that the government has
recommended to be reflected in research. Leading experts in
respective research fields serve as program directors and
supervise multiple research projects conducted by fellows under
the program. They also take steps through opportunities such as a
brainstorming workshop at the launch of each project and interim
report meetings to ensure that the plans and contents of research
projects are mutually and organically interacted. Fifteen new
projects were launched in fiscal 2014, adding to the 47 projects
carried forward from fiscal 2013 (see “Research Activities” on
p.7).
02
1.2 Research papers
A total of 163 research papers (discussion papers [DP] and policy
discussion papers [PDP]) were published.
DPs are compilations of theoretical, analytical, and empirical
research findings written in the form of academic journals. More
DPs were written in English than in Japanese (93 in English
versus 48 in Japanese), reflecting our intention to disseminate
them globally. On the other hand, there were more PDPs written
in Japanese than in English (two in English versus 20 in
Japanese), as they are designed to contribute to policy discussions
in a timely manner. These papers go through an internal review
process before being released in principle.
All DPs are accompanied by non-technical summaries that briefly
encapsulate the policy implications derived from analysis. For
some DPs, a “Research Digest” is prepared utilizing interviews
with the authors to condense in a readily comprehensible manner
the perspectives adopted in undertaking the research, the key
points of the research, and the policy implications. An article of
Research Digest is used as a vehicle for disseminating highquality research results in academic fields.
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
1.3 Research cooperation
RIETI has been an active participant in research exchanges since
2007, a prime example of which is its organization of
international workshops with the Centre for Economic Policy
Research (CEPR), a leading European research network. Since
2012, articles by researchers from the two organizations have
been published on a reciprocal basis on RIETI’s website and
CEPR’s policy portal VoxEU.org, and a total of 21 articles were
shared in fiscal 2014. Furthermore, in fiscal 2014, RIETI and
CEPR exchanged memorandums of understanding on research
cooperation.
Visiting scholars from the United States’ Council on Foreign
Relations (CFR) were hosted by RIETI under a memorandum of
understanding on cooperation between the two organizations. An
intern from Harvard University also was hosted.
Joint research with China’s Development Research Center (DRC)
has continued. As well as this, RIETI held workshops with a
variety of other research institutes as part of its research
collaboration activities.
January 16, 2015
CEPR-RIETI Workshop
Labour Market Policy for Economic Growth
2.
Public Relations Activities
2.1 Symposiums, workshops, and seminars
RIETI held 30 symposiums, workshops, and seminars in fiscal
2014 (excluding BBL seminars). These provided excellent
opportunities for reporting research findings and policy
recommendations and generally sharing ideas and other
information. They were led by notable researchers and leading
figures in a variety of fields, including Professor James J.
HECKMAN of the University of Chicago, a Nobel laureate in
economics. The events hosted by RIETI include Third World
KLEMS Conference / RIETI World KLEMS Symposium, which
was held on May 19-20, 2014. A number of topics were
addressed at those events, including productivity, social security,
strategies for economic growth, corporate governance,
innovation, international trade, and energy. In addition, 64
lunchtime BBL seminars were held, providing a vehicle for active
discussion transcending the boundaries between business,
academia, and government. Highlights of these events are
described below (Also see “Symposiums, Workshops, and
Seminars” on p. 59).
James J. HECKMAN (Henry Schultz Distinguished Service Professor of Economics, The
University of Chicago) delivers a lecture at the seminar.
October 8, 2014
RIETI Special Seminar
"Creating Capabilities" by Nobel Prize-winning economist Professor James J. HECKMAN
RIETI-JSTAR Symposium
Japan's Future as a Super Aging Society: International
comparison of JSTAR datasets (December 12, 2014)
A column written by KAWASE Tsuyoshi, FF on VoxEU.org
RIETI has been conducting a comprehensive survey of elderly
people based on an international standard—the Japanese Study of
Aging and Retirement (JSTAR)—since 2007. This panel data
survey is designed to ensure comparability with preceding
large-scale panel data surveys conducted in the United States and
Europe. It is also part of an international project continuously
researching the diverse information available on the economic,
health, family, and social conditions of Japanese elderly from an
interdisciplinary perspective.
This policy symposium brought together RIETI’s JSTAR
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
03
research team as well as researchers from around the world who
have led companion studies in various countries, including the
United States, United Kingdom, continental Europe, and China.
These experts presented the status of the elderly in each country,
as based on their data, along with presentations of research
findings. Moreover, speakers introduced the kinds of policies that
are being written, according to their findings. Participants
discussed the true picture of the elderly in Japan as revealed by
earlier JSTAR studies and the resulting implications for social
security reform in Japan in the future.
http://www.rieti.go.jp/en/events/14121201/info.html
Highlight Seminars
The Highlight Seminars series was started in fiscal 2012 to
disseminate timely research results on policy issues of great
public interest and discuss them in great detail. RIETI held four
such seminars in fiscal 2014, and Chairman NAKAJIMA Atsushi
took charge as the moderator in all seminars.
The 11th Highlight Seminar, January 30, 2015
“What is the New Direction of the Japanese Economy and Industry?”
From left to right, OHASHI Hiroshi (PD and FF), KOBAYASHI Keiichiro (FF)
The 10th Highlight Seminar, November 10, 2014
“Japan-China Economic Relations: Challenges and future directions”
From left to right, KAWAI Masahiro (SRA), WAKASUGI Ryuhei (SRA, PD and FF)
RIETI World KLEMS Symposium
Growth Strategy after the World Financial Crisis
(May 20, 2014)
In this symposium, discussions on the theme of a growth strategy
after the world financial crisis were made from a broad
perspective. In the first session, Professor Dale W. JORGENSON
of Harvard University discussed the World KLEMS Initiative,
and RIETI President FUJITA Masahisa addressed the evolving
spatial economy of the Asia-Pacific and the growth strategy. The
second half of the program was a panel discussion, in which
leading economists from Japan, Asia, Europe, and the United
States exchanged their views and ideas on topics such as
sustainable productivity, structural change to enhance growth,
and risk factors for sustainable growth.
http://www.rieti.go.jp/en/events/14052001/info.html
The 9th Highlight Seminar, September 5, 2014
“New Growth Strategy: Rural economy vitalization
and aggressive agriculture”
From left to right, HAMAGUCHI Nobuaki (PD and FF), YAMASHITA Kazuhito (SF)
The 8th Highlight Seminar, July 2, 2014
“Prices and Economic Performance in Japan
after the Consumption Tax Hike”
From left to right, FUKAO Mitsuhiro (PD and FF),
WATANABE Tsutomu (Professor, Graduate School of Economics,
Faculty of Economics, The University of Tokyo)
From left to right, Dale W. JORGENSON (Samuel W. Morris University Professor, Harvard
University), FUJITA Masahisa (President and CRO, RIETI / Professor, Konan University /
Adjunct Professor, Institute of Economic Research, Kyoto University)
04
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Brown Bag Lunch Seminars (BBL Seminars)
2.2 Publications
RIETI invited intellectuals from Japan and overseas to serve as
lecturers during these lunchtime seminars that offer a venue for
discussions with policy officials, academics, journalists,
diplomats, and others on various policy issues. BBL seminars
covered a wide range of subjects such as small and medium
enterprises (SMEs) and ventures, international trade policies,
industrial policies, the Chinese economy, international
development and investments, innovation, intellectual properties
and patents, the global economy, finance, energy and
environment, and so forth (see “BBL Seminars” on p.71).
Four books compiling RIETI's research results were published in
fiscal 2014 (see the list of publications on p. 54)
.
Intangibles, Market Failure
and Innovation Performance
Edited by Ahmed BOUNFOUR,
MIYAGAWA Tsutomu（FF）
December 19, 2014
KONISHI Yoko (SF, RIETI)
“Overview of Measuring Productivity:
Accurate evaluation of technology”
Macro-performance of
Small and Medium Enterprises
July 2, 2014
TAMAKI Rintaro (Deputy Secretary-General and Chief Economist, OECD)
Written by GOTO Yasuo (SF)
“Shifting Gear: Policy challenges for the next 50 years”
June 19, 2014
International Economics of
Outsourcing: Changing global
trade patterns and a microdata
analysis of Japanese firms
SEKIYAMA Kazuhide (Director and Representative Executive Officer, Spiber Inc.)
“Creation of Innovation through University Ventures”
Written by TOMIURA Eiichi（FF）
April 4, 2014
Elhanan HELPMAN (Galen L. Stone Professor of International Trade, Harvard University)
“Globalization and Inequality”
Economic Analysis of
Working Hours: Prospects
for a working style
in a super-aging society
Written by YAMAMOTO Isamu (FF),
KURODA Sachiko
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
05
2.3 RIETI Highlight PR magazine
2.4. Website
RIETI Highlight, a PR magazine introducing RIETI’s major
activities, is published on a quarterly basis, together with a
special English-language edition. Each issue presents topics of a
timely nature in a “special feature,” and the topics covered in the
fiscal 2014 quarterly editions included corporate governance,
creating and displaying capabilities, raising productivity, and
economics under globalization. The special edition gave Englishlanguage descriptions of RIETI’s activities in fiscal 2014,
especially on its key projects and research results, and
symposiums and seminars in which eminent researchers
participated. Although RIETI conducts academically advanced
research projects, RIETI Highlight publishes articles on the
projects and their research findings in a manner that is easily
understood even without expert knowledge. The magazine also
adopts an editorial design that is easy to view in order to draw the
readers’ attention. (see “Publicity Materials” on p. 58).
The RIETI website is operated in three languages: Japanese,
English and Chinese. It offers a steady stream of the latest
information on RIETI activities—notices of symposiums and
seminars, newly released research papers and non-technical
summaries, columns by fellows, columns by renowned
researchers worldwide entitled “Perspectives from Around the
World,” etc.—and it is seeing an increasing number of visitors.
Among the topics that particularly interested site visitors in fiscal
2014 were the Chinese economy, women’s participation in the
workforce, low birthrate and depopulation, and issues in
Abenomics. We are also taking advantage of the growing variety
of tools to publicize our research findings. For example, we post
contents on our Facebook page, and in July 2014, we began
posting videos of RIETI events on our channel “rietichannel” on
YouTube (See “Website” on p. 57).
Website (http://www.rieti.go.jp/en/)
Quarterly issue
Facebook (https://www.facebook.com/en.RIETI)
Special issue
06
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Research Activities
Programs
I
International Trade and investment
II
International Macroeconomics
III
Regional Economies
IV
Technology and Innovation
V
Raising Industrial and Firm Productivity
VI
New Industrial Policy
VII
Human Capital
VIII
Social Security, Taxation, and Public Finance
IX
Policy History and Policy Assessment
SP
Special Projects
独立行政法人　経済産業研究所　年次報告書 2013/4–2014/3
07
List of Research Projects
I　International Trade and Investment
Program
Project Title
Project Leader
I-1
Global Markets and Japan's Industrial Growth
WAKASUGI Ryuhei FF
I-2
Empirical Analysis of Trade Policy Preferences at the Individual Level in Japan
TOMIURA Eiichi FF
I-3
Trade and Industrial Policies in a Complex World Economy
ISHIKAWA Jota FF
I-4
Empirical Analysis on Determinants and Impacts of the Formation of Firm Networks
TODO Yasuyuki FF
I-5
Economic Impacts of Free Trade Agreements: The case of Japan
URATA Shujiro FF
I-6
Comprehensive Research on the Current International Trade/Investment System (pt.II)
KAWASE Tsuyoshi FF
I-7
A Study on Trade/FDI and the Environment/Energy
JINJI Naoto FF
I-8
The Structural Analysis of Global Governance over International Economic Law: Study on correlative MAMIYA Isamu FF /
KOMETANI Kazumochi CF
relationship in conflicts between policies, soft laws, and non-governmental entities
V
Page
10
10
11
11
12
12
13
13
Program　II　International Macroeconomics
Project Title
Project Leader
II-1
Research on Exchange Rate Pass-Through
ITO Takatoshi FF
II-2
Exports and the Japanese Economy: Experiences in the 2000s and the lessons for the future
IWAISAKO Tokuo FF
II-3
Research on Currency Baskets
OGAWA Eiji FF
II-4
Macroeconomic Analysis on the Public Debt, Deflation, and Other Related Issues
KOBAYASHI Keiichiro FF
II-5
East Asian Production Networks, Trade, Exchange Rates, and Global Imbalances
Willem THORBECKE SF
Page
14
14
15
15
16
Program　III　Regional Economies
Project Title
Project Leader
III-1 Restoration from Earthquake Damage and Growth Strategies of the Japanese Regional Economy
HAMAGUCHI Nobuaki FF
III-2 Spatial Economic Analysis on Regional Growth
TABUCHI Takatoshi FF
III-3 Seeking Sustainable Regional Economies in the Economic Globalization Age
NAKAMURA Ryohei FF
III-4 Formation of Economic Regions and its Mechanism: Theory and evidence
MORI Tomoya FF
III-5 Geospatial Networks and Spillover Effects in Inter-organizational Economic Activities
SAITO Yukiko SF
Page
17
17
18
18
18
V
Program　IV　Technology and Innovation
Project Title
Project Leader
Page
IV-1 Research on Innovation Process and its Institutional Infrastructure
NAGAOKA Sadao FF
IV-2 Empirical Studies on "Japanese-style" Open Innovation
MOTOHASHI Kazuyuki FF
IV-3 The Role of Public Research Institutions in the Japanese National Innovation System
GOTO Akira FF
IV-4 Innovation, Incentives, and Organizations
ITOH Hideshi FF
IV-5 Standards and Intellectual Property
AOKI Reiko FF
IV-6 Health Policy and Innovation
IIZUKA Toshiaki FF
20
20
21
21
21
22
Study on Technology Know-how and its Protection via Questionnaire Survey on the Japanese
IV-7 Manufacturing Industry
WATANABE Toshiya FF
22
Program　V　Raising Industrial and Firm Productivity
Project Title
08
Project Leader
V-1
East Asian Industrial Productivity
FUKAO Kyoji FF
V-2
Study on Intangible Assets in Japan
MIYAGAWA Tsutomu FF
V-3
Regional-Level Japan Industrial Productivity Database: Database Refinement and Its Analysis
TOKUI Joji FF
V-4
Analysis on Service Industries: Productivity, Economic Welfare, and Policy Evaluation
KWON Hyeog Ug FF /
INUI Tomohiko FF
V-5
Competitiveness of Japanese Firms: Causes and Effects of the Productivity Dynamics
KIYOTA Kozo FF
V-6
Decomposition of Economic Fluctuations for Supply and Demand Shocks
KONISHI Yoko SF
V-7
Evaluating International Competitiveness
NOMURA Koji FF
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Page
23
24
24
25
25
26
26
Program　VI　New Industrial Policy
Project Title
Project Leader
Page
VI-1 Basic Research for a New Industrial Policy
OHASHI Hiroshi FF
27
Issues Faced by Japan's Economy and Economic Policy Part III:
VI-2 Heterogeneity among economic agents
YOSHIKAWA Hiroshi FF
27
VI-3 Study on Corporate Finance and Firm Dynamics
UESUGI Iichiro FF
VI-4 Energy and Industrial Structural Change after the Fukushima Nuclear Accident
MANAGI Shunsuke FF
28
28
VI-5 Globalization, Innovation, and Competition Policy
KAWAHAMA Noboru FF /
OHASHI Hiroshi FF
29
VI-6 Population
YAMASHITA Kazuhito SF
29
VI-7 Price Network and Dynamics of Small and Medium Enterprises
AOYAMA Hideaki FF
29
Agricultural Policy Reform Aimed at Competitive Agriculture in the Age of Globalization and Decreasing
V
Program　VII　Human Capital
Project Title
Project Leader
VII-1 Reform of Labor Market Institutions
TSURU Kotaro FF
Economic Analysis of Human Resource Allocation Mechanisms within the Firm: Insider econometrics
OWAN Hideo FF
VII-2 using HR data
VII-3 Fundamental Research for the Revival of a Vibrant Economy and Society in Japan
NISHIMURA Kazuo FF
VII-4 The Changing Japanese Labor Market: A perspective and desirable policy responses
KAWAGUCHI Daiji FF
VII-5 Research Project on Mental Health from the Perspective of Human Capital 2
SEKIZAWA Yoichi SF
VII-6 Labor Market Analysis Using Matched Employer-Employee Panel Data
YAMAMOTO Isamu FF
VII-7 The Effect of Diversity on Economic Growth and Business Competitiveness
HIGUCHI Yoshio FF /
KODAMA Naomi CF
Page
30
30
31
31
31
31
32
Program　VIII　Social Security, Taxation, and Public Finance
Project Title
Project Leader
Page
VIII-1 A Cost-Benefit Analysis of Fiscal Consolidation Measures
FUKAO Mitsuhiro FF
33
VIII-2 Toward a Comprehensive Resolution of the Social Security Problem: A new economics of aging
ICHIMURA Hidehiko FF /
SHIMIZUTANI Satoshi CF
33
VIII-3 Optimal Immigration Policy for Japan
NAKAJIMA Takanobu FF
VIII-4 Social Security System to Revive Economic Vitality and Improve the Quality of Life
NAKATA Daigo SF
VIII-5 Theoretical and Empirical Analyses on Incidences of Corporate Income Taxation
DOI Takero FF
VIII-6 On Monetary and Fiscal Policy under Structural Changes and Societal Aging
FUJIWARA Ippei FF
A Socioeconomic Analysis of Households in Environments Characterized by Aging Population and Low
YIN Ting F
VIII-7 Birth Rates
34
34
34
35
35
Program　IX　Policy History and Policy Assessment
Project Title
IX-1
Project Leader
Historical Study on Japan's Trade and Industrial Policy: From an international perspective
TAKEDA Haruhito FF
IX-2 History of the Policies of the Nuclear and Industrial Safety Agency
KIKKAWA Takeo FF
IX-3 Historical Evaluation of Industrial Policies
OKAZAKI Tetsuji FF
Page
36
36
36
Special Projects　SP　Special Projects
Project Title
Project Leader
Page
38
39
SP-1
Frontiers of Analysis on Corporate Governance: Growth, value creation and corporate governance
MIYAJIMA Hideaki FF
SP-2
RIETI Data Management Project
ODA Keiichiro SF
SP-3
Research on the Liberalist Reforms of the Public-Private Relationship and the Establishment of the
USHIRO Fusao FF
Third Sector in Japan
40
SP-4
Survey of International Trends and Discussions in Greenhouse Gas Emission Reduction Projects
KAINOU Kazunari F
under the UN Framework Convention on Climate Change
40
SP-5
Economic Analysis of Entrepreneurship
SP-6
An Empirical Study on Economic Resilience and Maintenance of Economic Strength Against Disasters SAWADA Yasuyuki FF
MATSUDA Naoko F
41
41
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
09
Program
：I
I
International Trade and Investment
International
Trade and
Investment
Program Director
WAKASUGI Ryuhei
The growth of Japan's economy is inseparable from
changes in the global economy. This program,
focusing on the relationship between the globalization
of firms (i.e., exports and overseas production) and
growth of the Japanese economy, will study R&D and
innovation of globalizing firms, international
technology transfer, employment, and industrial
clusters from theoretical and empirical perspectives,
investment (FDI) influence domestic employment, innovation, and
industrial growth still remain as research subjects, while studies on
the stylized facts of the internationalization of Japanese firms (i.e.
export, outward FDI, and offshore outsourcing) and the factors to
accelerate it have been aggregated so far. In addition, there are few
studies that investigate the effect of the entry of foreign firms into the
Japanese market through the transaction of goods, services, and
technology and the effect of inward FDI on Japanese industries. This
project focuses on the following subjects: (1) the entry of foreign
firms, the Japanese market environment, and industrial growth in
Japan; (2) the effects of firms' networks and offshoring, tax systems,
and research and development (R&D) on the internationalization and
growth of Japanese firms; and (3) the effect of the growing
production level of Japanese firms in China on economic growth in
both China and Japan. The research results in this project are
expected to contribute insightful knowledge for industrial
policymaking.
together with studying international trade and
investment rules (i.e., the WTO and regional trade
Major Research Results
agreements) empirically and from both legal and
institutional perspectives. Furthermore, it also will
study the impacts on firms and industries of the
external shock resulting from the Great East Japan
Earthquake, changes in production networks and the
Discussion Papers
▶ Impact of Extensive and Intensive Margins of FDI on
Corporate Domestic Performance: Evidence from Japanese
automobile parts suppliers (MATSUURA Toshiyuki) (DP
15-E-032)
▶ Impacts
of the World Trade Organization on Chinese
Exports (WAKASUGI Ryuhei and ZHANG Hongyong) (DP
15-E-021)
structure of trade following recovery, and the effects
of restrictive energy and material supply on structural
I
changes in the Japanese economy.
▶ Industrial Agglomeration
and Dispersion in China: Spatial
reformation of the "workshop of the world" (ITO Asei) (DP
14-E-068)
▶ What
Types of Science and Technology Policies Stimulate
Innovation? Evidence from Chinese firm-level data (ITO
Asei, Zhuoran LI and Min WANG) (DP 14-E-056)
▶ How
Does Agglomeration Promote the Product Innovation of
Chinese Firms? (ZHANG Hongyong) (DP 14-E-022)
▶ The
Effect of Moving to a Territorial Tax System on Profit
Repatriations: Evidence from Japan (HASEGAWA Makoto
and KIYOTA Kozo) (DP 15-J-008)
Introduction of Research Projects
I-1
Global Markets and Japan's Industrial Growth
Project Leader: WAKASUGI Ryuhei FF
Empirical Analysis of Trade Policy Preferences at
the Individual Level in Japan
Project Leader: TOMIURA Eiichi FF
＜Overview＞
The integration of the Japanese economy with global markets is the
most important aspect for industrial growth in Japan where potential
domestic demand is not expanding. The issues on how the
internationalization of Japanese firms via exports and foreign direct
10
I-2
＜ Overview ＞
Trade policy becomes increasingly critical for Japan in the
interdependent world with uncertainty in global trade liberalization.
In spite of the gains from trade supported unanimously by
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Discussion Papers
▶ Trade Policy Preferences and Cross-Regional Differences:
Evidence from individual-level data of Japan (ITO Banri,
MUKUNOKI Hiroshi, TOMIURA Eiichi and WAKASUGI
Ryuhei) (DP 15-E-003)
▶ Reciprocal
Versus Unilateral Trade Liberalization:
Comparing individual characteristics of supporters
(TOMIURA Eiichi, ITO Banri, MUKUNOKI Hiroshi and
WAKASUGI Ryuhei) (DP 14-E-067)
▶ Trade
Policy Preferences and Cross-Regional Differences:
Evidence from individual-level data of Japan (ITO Banri,
MUKUNOKI Hiroshi, TOMIURA Eiichi and WAKASUGI
Ryuhei) (DP 14-J-052)
I-3
Trade and Industrial Policies in a Complex World
Quality of Distance: Quality sorting, Alchian-Allen effect,
and geography (TAKECHI Kazutaka) (DP 15-E-018)
International
Trade and
Investment
Major Research Results
▶ The
：I
economists, opinions on trade policy widely vary among individuals,
depending on income, skill, industry, and many other background
factors. This research project empirically explores how various
individual characteristics are related with trade policy preferences.
Findings from our survey on 10,000 individuals will reveal
regularities that will be informative for policy planners not only in
Japan but also in many other developed economies.
▶ The
Price of Distance: Pricing to market, producer
heterogeneity, and geographic barriers (KANO Kazuko,
KANO Takashi and TAKECHI Kazutaka) (DP 15-E-017)
▶ Trade
Liberalization and Aftermarket Services for Imports
(ISHIKAWA Jota, MORITA Hodaka and MUKUNOKI Hiroshi)
(DP 14-E-065)
Workshop
“One-day Trade Workshop” (December 23, 2014)
I-4
Empirical Analysis on Determinants and Impacts of
the Formation of Firm Networks
Project Leader: TODO Yasuyuki FF
＜ Overview ＞
This project empirically examines how the networks of firms, such as
supply chain networks and industrial-academic-government
collaboration, are formulated and how they affect the economy, using
firm-level data, such as that for firms affected by the Great East
Japan Earthquake and the 2011 Thailand floods and for small and
micro enterprises in less developed countries. From these analyses,
this project aims at providing new academic findings on firm
networks that can promote economic growth and improve social
welfare as well as policy implications based on these findings.
Economy
Project Leader: ISHIKAWA Jota FF
Major Research Results
＜ Overview ＞
As globalization proceeds, the world economy is becoming more
complex. While multilateral negotiations under the World Trade
Organization (WTO) are stagnating, bilateral negotiations such as
regional trade agreements and bilateral investment treaties remain
dominant. Although tariffs were reduced, other trade costs have not
necessarily fallen. Trade liberalization in services is slow relative to
that in goods. Firms now engage in various cross-border transactions.
In particular, we see various hybrid forms of organization and
competition in which domestic and foreign firms cooperate in some
phases of production and then compete in product markets. The
objective of this research project is to explore trade and industrial
policies in this complex world economy and obtain useful
implications for economic growth.
Discussion Papers
▶ The Strength of Long Ties and the Weakness of Strong
Ties: Knowledge diffusion through supply chain networks
(TODO Yasuyuki, Petr MATOUS and INOUE Hiroyasu) (DP
15-E-034)
▶The
Effects of Endogenous Interdependencies on Trade
Network Formation across Space among Major Japanese
Firms (Petr MATOUS and TODO Yasuyuki ) (DP 14-E-020)
主な研究成果
Major Research Results
Discussion Papers
▶ Aid for Trade and Global Growth (NAITO Takumi) (DP
15-E-025)
▶ Comparative Advantage,
Monopolistic Competition, and
Heterogeneous Firms in a Ricardian Model with a
Continuum of Sectors (ARA Tomohiro) (DP 15-E-023)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
11
：I
I-5
International
Trade and
Investment
I-6
The case of Japan
Comprehensive Research on the Current
International Trade/Investment System (pt.II)
Project Leader: URATA Shujiro FF
Project Leader: KAWASE Tsuyoshi FF
＜ Overview ＞
The objective of this research is to investigate the impacts of Japan's
free trade agreements (FTAs) on the Japanese economy, in order to
provide the Japanese government with useful information in
formulating trade policy. The analyses will take ex-ante and ex-post
forms. The ex-ante analysis is to examine the possible impacts of
FTAs, which are still in negotiation or under study, by conducting
simulation analyses using the computable general equilibrium
models. Specifically, we intend to analyze the impacts of various
FTAs including the Trans-Pacific Strategic Economic Partnership
Agreement (TPP) and the Regional Comprehensive Economic
Partnership (RCEP).
＜ Overview ＞
The main subject of this research project for this period is
international economic law on state capitalism. Due to the recent rise
of state-owned enterprises (SOE) and sovereign wealth funds (SWF)
mainly by emerging economies, a new set of international regulatory
frameworks that differs from the conventional one for a market
economy is urgently in need. Currently, however, the World Trade
Organization (WTO) Agreement, economic partnership agreements
(EPAs), and investment treaties do not provide effective trade,
investment, and competition rules on this new phenomena, and
philosophical discrepancies between developed countries and
emerging economies render this issue as one of the least possible to
reach a conclusion for in the ongoing Trans-Pacific Strategic
Economic Partnership Agreement (TPP) negotiations. This project
aims first to survey the status quo of laws on state capitalism, bearing
in mind the precedent achievements in the International Monetary
Fund (IMF) and the Organisation for Economic Co-operation and
Development (OECD) and recent debates in the TPP or the
Transatlantic Trade and Investment Partnership (TTIP) negotiations,
and to propose possible regulatory frameworks or interpretation and
application of relevant domestic/international law in force in order
for optimal regulation.
Economic Impacts of Free Trade Agreements:
The ex-post analysis is conducted by using the observed data after the
FTAs are enacted. This analysis is implemented in two steps. First,
we investigate the impacts of FTAs on the level of liberalization in
goods and service trade. Second, we examine the impacts of the
change in the level of trade liberalization—the result of the first
stage—on trade flows in goods and services.
Major Research Results
Discussion Papers
▶Trade in Services and Japan's Bilateral FTAs: Empirics on
their impacts (ISHIDO Hikari) (DP 15-E-012)
This project also covers the studies on WTO case law and the legal
and economic analysis of international trade in cultural media
products and relevant cross-border investment activities, both of
which are continuing from the preceding period (2011-13).
▶ Do
People Support Compensation for Trade Liberalization?
Evidence from a survey experiment in Japan (KUNO Arata)
(DP 15-J-002)
ADBI & RIETI Special Seminar
“Asia and Japan: Trading into the future” (2014/4/18)
Major Research Results
Discussion Paper
▶ Clarification of Evolution of the Principle of NonDiscrimination under the WTO Agreement: Recent
developments in case law and their implications for
Members' policy space (KAWASE Tsuyoshi) (DP 15-J-004)
Policy Discussion Paper
▶ [WTO Case Review Series No. 9] United States—Certain
Country of Origin Labelling Requirements (DS384, 386): The
impacts of country of origin labelling on international trade
(NAIKI Yoshiko) (PDP 14-P-022)
From left to right, URATA Shujiro FF, NAKATOMI Michitaka CF
12
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
：I
I-7
Project Leader: JINJI Naoto FF
＜Overview＞
This project mainly conducts empirical analyses on the relationship
between international trade/foreign direct investment (FDI) and the
environment/energy at the firm-level and product-level. It is
motivated by the fact that Japanese firms have a competitive
advantage in energy-saving technologies and environmentally
friendly products whereas constraints from domestic energy supply
and environmental regulations could affect their location choice and
globalization strategy. The main issues in this project include: (1)
globalization of firms and their energy efficiency/emissions; (2) the
environmental impact of Japanese FDI and the environmental
spillovers to local firms in the host countries; (3) international
comparison of the environmental and energy consciousness of
consumers and the analysis of standards and labeling, and; (4) the
environmental effects of durable goods with addressing the issue of
trade in second-hand goods.
I-8
The Structural Analysis of Global Governance over
International Economic Law: Study on correlative
relationship in conflicts between policies, soft laws,
and non-governmental entities
Project Leader: MAMIYA Isamu FF
Sub-Leader: KOMETANI Kazumochi CF
＜ Overview ＞
International rules, which have been developed in policy areas
including international trade and investment protection, have
recently set limitations on government measures in different
policy areas, including environmental and consumer protection,
and consequently, concern has arisen over norms between
international and domestic laws, or among international laws,
conflicting with each other. Also, further diversification has
been witnessed in subject matters, participating entities, binding
authorities, and implementation measures. On the basis of
progress in these international laws, we intend to conduct
research on individual policy fields with an aim to analyze the
whole picture of international laws and global governance. It
is expected that such analysis not only offers a perspective for
capturing the whole structure of international laws, but also
provides a solid basis for analyzing previous cases. Examples of
those include the background of the long-stalled negotiations in
the Doha Development Agenda (DDA) and post Kyoto Protocol
as well as World Trade Organization (WTO) and investment
agreements.
International
Trade and
Investment
A Study on Trade/FDI and the Environment/Energy
Other research results in Program I
＜ Research results independent from any research
project ＞
RIETI Seminar on International Economy
“Portrait of Factory Asia: Production Network in Asia and its
implication for growth - the smile curve” (December 11, 2014)
From left to right, TOMIURA Eiichi FF, WAKASUGI Ryuhei SRA/PD/FF, Professor
Richard E. BALDWIN
＜ Research results belonging to research projects
prior to Fiscal 2013 ＞
Project: Economic Analysis on Trade Agreements
Project Leader: SATO Hitoshi CF
Discussion Paper
▶ How the Movement of Natural Persons Agreement Could
Fuel FTAs (KOMORIYA Yoshimasa) (DP 14-E-041)
Project: Pressing Problems of International Investment
Law
Project Leader: KOTERA Akira FF
Policy Discussion Paper
▶ Services Negotiation and Plurilateral Agreements: TISA and
sectoral approach (NAKATOMI Michitaka) (PDP 14-P-023)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
13
Program
II
International Macroeconomics
Program Director
ITO Takatoshi
：
II
Amid rapidly advancing globalization, there is a need
International
Macroeconomics
to consider how the Japanese economy should take on
risk employed by multinational firms, the objective of this project is
to elucidate the following: (i) clarify the impacts of commodity-level
and corporate-level factors on pass-through on a macroeconomic
level, and (ii) reassess the effects of deregulation of Japanese capital
control in the 1990s on yen-denominated transactions and forecast
the effects of easing capital control in emerging countries on the
international currency system.
growth in emerging markets and realize balanced,
sustainable growth within Asia. In addition to
Major Research Results
studying institutional infrastructures such as the role
of a currency basket in the Asia region, this program
also will analyze various issues related to exchangerate pass-through and the choice of invoice currencies
from both macroeconomic and corporate-level
perspectives. Furthermore, it also will advance
research spanning fields such as international trade
Discussion Papers
▶ Automobile Exports: Export price and retail price (YOSHIDA
Yushi and SASAKI Yuri) (DP 15-E-024)
▶ Abenomics,
Yen Depreciation, Trade Deficit, and Export
Competitiveness (SHIMIZU Junko and SATO Kiyotaka) (DP
15-E-020)
▶ Abenomics,
Yen Depreciation, Trade Deficit and Export
Competitiveness (SHIMIZU Junko and SATO Kiyotaka) (DP
14-J-022)
and macroeconomics, international finance, macro
finance, corporate foreign-exchange risk
II-2
management, and corporate finance. We will
Exports and the Japanese Economy: Experiences in
endeavor to propose ideal macroeconomic policies for
the 2000s and the lessons for the future
fiscal reconstruction, particularly their influence on
Project Leader: IWAISAKO Tokuo FF
exchange rates, as well as analyze the long-term
II
deflationary mechanism and explore ways of
overcoming it.
Introduction of Research Projects
＜ Overview ＞
Following the Lehman Brothers collapse in fall 2008, the world
economy fell into a severe recession along with a large contraction in
international trade, known as the Great Trade Collapse. Although the
Japanese economy was relatively unharmed from the global financial
crisis, it subsequently experienced a large drop in output prompted by
a decline in the exports demand from late 2008 to 2009. Our project
investigates the propagation mechanism of the negative demand
shock and the adjustment process of Japanese firms/industries during
this period, utilizing detailed micro data. We also analyze why the
Japanese economy's dependence on its exports largely increased
during the period of mild recovery preceding the Lehman Brothers
collapse, paying particular attention to the structural change of the
Japanese industries and the effects of sharp appreciation of energy
prices in the 2000s.
II-1
Research on Exchange Rate Pass-Through
Major Research Results
Project Leader: ITO Takatoshi FF
＜ Overview ＞
Through theoretical and empirical analysis of the microeconomic
(corporate) behaviors that determine pass-through (i.e., export/import
pricing, choice of invoice currency, and foreign exchange risk
management) under the existence of a rational strategy on currency
14
Discussion Papers
▶ Impact of Exchange Rate Shocks on Japanese Exports:
Quantitative assessment using a structural VAR model
(IWAISAKO Tokuo and NAKATA Hayato) (DP 15-E-029)
▶ Oil
Price, Exchange Rate Shock, and the Japanese
Economy (IWAISAKO Tokuo and NAKATA Hayato) (DP
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
15-E-028)
RIETI-IWEP-CESSA Joint Workshop
▶ Financial
Shocks and Japan's Export Collapse during the
Global Financial Crisis: Evidence from bank-firm matched
data (UCHINO Taisuke) (DP 14-J-053)
▶ Impact
International
Macroeconomics
▶ Oil
Related URLs
▶ Asian Monetary Unit (AMU) and AMU Deviation Indicators
http://www.rieti.go.jp/users/amu/en/index.html
：
II
of Exchange Rate Shocks on Japanese Exports:
Quantitative assessment using the structural VAR model
(IWAISAKO Tokuo and NAKATA Hayato) (DP 14-J-051)
“Industry-specific REER and Pass-Through Effect in Economic
Integration between China and Japan” (December 13-14,
2014)
Price, Exchange Rate Shock, and the Japanese
Economy (IWAISAKO Tokuo and NAKATA Hayato) (DP 14-J050)
II-3
Research on Currency Baskets
Project Leader: OGAWA Eiji FF
＜ Overview ＞
Multiple currency swap agreements (CMIM) were created in Asia,
and a surveillance unit (ASEAN Macro-Economic Research Office:
AMRO) has started in Singapore. Under these circumstances, the
Asian Monetary Unit (AMU), proposed by RIETI, will be expected
to play an important role as a surveillance unit in the near future. The
first purpose of this project is to hold meetings to discuss and bring a
concrete proposal on regional monetary cooperation with researchers
from Japan, China, and Korea. In addition, a database containing the
industry-specific nominal effective exchange rates and the industryspecific real effective exchange rates of Japan, China, and Korea has
been published consistently since May 2011, and it has recently
attracted increasing attention from policymakers.
▶ Industry-Specific
Nominal and Real Effective Exchange
Rates in Asia
http://www.rieti.go.jp/users/eeri/en/index.html
The purpose of the research is not only to create a new standard on
exchange rates in order to propose it as either an economic
surveillance indicator or a policy indicator, but also to bring policy
implications to future currency regimes in Asia by applying these
indicators on macroeconomic analyses.
Industry-Specific Real Effective Exchange Rate
Major Research Results
Discussion Papers
▶ Assessing Asian Equilibrium Exchange Rates as Policy
Instruments (MASUJIMA Yuki) (DP 15-E-038)
▶ Effects
of a Quantitative Easing Monetary Policy Exit
Strategy on East Asian Currencies (OGAWA Eiji and WANG
Zhiqian) (DP 15-E-037)
▶ Industry-specific
Real Effective Exchange Rates in Asia
(SATO Kiyotaka, SHIMIZU Junko, Nagendra SHRESTHA
and Shajuan ZHANG) (DP 15-E-036)
FY 2014 The Third Hitotsubashi University Policy
Forum
“Trends in Trade and Current Account, and the Future of the
Japanese Economy” (March 5, 2015)
II-4
Macroeconomic Analysis on the Public Debt,
Deflation, and Other Related Issues
Project Leader: KOBAYASHI Keiichiro FF
＜ Overview ＞
As stock prices are booming and the yen is depreciating due to the
monetary easing in the Abenomics policy, interest in the mechanism
of persistent deflation is now renewed. On the other hand, fiscal
expansion is now further accelerating the accumulation of public
debt. Economic and policy analysis on public debt accumulation and
persistent deflation in Japan in the long-run are very challenging
topics as they are not easily accounted for by the existing economic
theory. We first analyze the relation between the expansion of public
debt and the decrease in economic growth. Analysis is done using
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
15
political economic models in the form of Acemoglu et al. and
macroeconomic models with credit constraint, in which the Ricardian
equivalence is violated and capital accumulation is affected by the
public debt. Based on these theoretical analyses, we argue for the
interaction of public debt, economic growth, and deflation, and
derive some policy implications.
Exports (THORBECKE, Willem) (DP 14-E-049)
▶ China-U.S.
Trade: A global outlier (THORBECKE, Willem)
(DP 14-E-039)
▶ Export
：
II
Sophistication and Exchange Rate Elasticities: The
Case of Switzerland (THORBECKE, Willem and KATO
Atsuyuki) (DP 14-E-031)
International
Macroeconomics
Major Research Results
Discussion Papers
▶ Public Debt Overhang in the Heterogeneous Agent Model
(KOBAYASHI Keiichiro) (DP 14-E-044)
▶ There
is No Natural Debt Limit with Consumption Tax
(KOBAYASHI Keiichiro) (DP 14-E-043)
II-5
East Asian Production Networks, Trade, Exchange
Rates, and Global Imbalances
Project Leader: Willem THORBECKE, SF
＜ Overview ＞
East Asia is characterized by intricate production and distribution
networks. Skilled workers in Japan, Taiwan, South Korea, and other
places produce sophisticated, technology-intensive parts and
components, ship them to China and countries in the Association of
Southeast Asian Nations (ASEAN) for assembly by lower wage
workers, and then re-export them largely outside of Asia. Exports
from East Asia have been accompanied by large imbalances with the
West. This project investigates how exchange rates affect trading
patterns in East Asia and elsewhere, and how exports and production
networks in the region are evolving. Exchange rates throughout the
supply chain, in principle, should affect exports. This project thus
examines how exchange rates in China, South Korea, Taiwan, Japan,
and ASEAN member states affect East Asian exports. It also
investigates how the appreciating yen between 2007 and 2012 and the
weakening yen after November 2012 affected Japanese exports and
imports and the profitability of Japanese firms. In addition, it culls
lessons from the exchange rate policies of other countries such as
Switzerland. The research further examines the product
sophistication of East Asian exports. Is Japan close to the
technological frontier? How far away are South Korea and Taiwan
from Japan? How are ASEAN countries progressing at moving up the
ladder of comparative advantage? To what extent are Asian
economies comrades, and to what extent are they competitors, in their
exports to the world? Finally, the project draws policy implications.
Major Research Results
Discussion Papers
▶ Enjoying
the Fruits of their Labor: Redirecting exports to
Asian consumers (THORBECKE, Willem) (DP 15-E-016)
▶ Measuring
16
the Competitiveness of China's Processed
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Program
III
Regional Economies
Program Director
HAMAGUCHI Nobuaki
This program will study urban, rural, and industrial
growth viewing the regions of Japan in the context of
the global economy, and using this to develop policy
recommendations and other outputs. Specifically, it
international regional systems through market
mechanisms, the mechanisms of enterprise clustering,
Regional
Economies
matters such as formation of domestic and
：
III
will analyze, both theoretically and empirically,
study: (1) whether the "group subsidy," introduced to assist the
restoration of damaged productive assets by the Great East Japan
Earthquake (2011), has been able to choose beneficiaries
appropriately through targeting and (2) the impact of a large natural
disaster on the exit and entry of firms, which eventually transformed
industrial agglomeration and the local economy in general in the
affected area from the experience of the Great Hanshin-Awaji
Earthquake (1995). As for the regional growth strategy, we
investigate: (3) the recent correlation between increasing
demographic concentration and declining patent application and
explore the viability of the growth strategy through a geographic
dispersion of research and development, and (4) the transformation of
supply chains and production distribution between overseas and
within the country, with the latter being further divided between
metropolitan and peripheral areas, and discuss what policy measures
should be taken in each area.
and the relationship between economic growth and
Major Research Results
urbanization. It will also consider regional policies
that would be desirable from the perspectives of
national economic growth and maximizing policy
effects, and also research the optimal sizes of regional
blocs and communities. Additional study will look at
Discussion Papers
▶ Natural Disasters, Industrial Clusters and Manufacturing
Plant Survival (Matthew A. COLE, Robert J R ELLIOTT,
OKUBO Toshihiro and Eric STROBL) (DP 15-E-008)
▶ Supply
Chain Internationalization in East Asia: Inclusiveness
and risks (FUJITA Masahisa and HAMAGUCHI Nobuaki) (DP
14-E-066)
the ideal forms of the supply chains of Japanese firms
and the recovery of areas affected by the Great East
Japan Earthquake. Furthermore, the ideal
III
Spatial Economic Analysis on Regional Growth
medium-sized enterprises utilizing regional resources
Project Leader: TABUCHI Takatoshi FF
and other advantages will be studied as well.
Introduction of Research Projects
III-1
Restoration from Earthquake Damage and Growth
Strategies of the Japanese Regional Economy
Project Leader: HAMAGUCHI Nobuaki FF
III-2
management strategies for outstanding small and
＜Overview＞
This research aims at presenting evidence for policy discussions
regarding two important issues for the current Japanese regional
economy. Related to the restoration from earthquake damage, we
＜Overview＞
While the world economy is rapidly globalizing and the service
sector is steadily growing, the population in Japan has been declining
due to aging demographics combined with a low birthrate. The
purpose of this project is to clarify the driving forces of economic
development in cities and regions under these economic
environments. Because the systems of cities and regions are closely
linked, we approach the urban economy from the perspective of
globalization. Based upon new economic geography, search theory,
dynamic general equilibrium, tax competition, and spatial
competition, we analyze spatial economy both theoretically and
empirically, and propose socially desirable spatial policies.
Major Research Results
Discussion Papers
▶ Endogenous Labor Supply and International Trade (AGO
Takanori, MORITA Tadashi, TABUCHI Takatoshi and
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
17
III-5
YAMAMOTO Kazuhiro) (DP 14-E-062)
▶ Competitive
Search with Moving Costs (KAWATA Keisuke,
NAKAJIMA Kentaro and SATO Yasuhiro) (DP 14-E-052)
▶ Economic
Geography, Endogenous Fertility, and
Agglomeration (MORITA Tadashi and YAMAMOTO Kazuhiro)
(DP 14-E-045)
III-3
Seeking Sustainable Regional Economies in the
：
III
Economic Globalization Age
Regional
Economies
Project Leader: NAKAMURA Ryohei FF
＜Overview＞
In the midst of economic globalization, international, inter-industry
transactions as well as intra-country, inter-regional transactions and
resulting location behaviors are gradually having important meanings
for regional economies. Individual regional economies have their
own roles according to their economic size and locational properties.
We investigate the successful inter-industrial relationships within a
region to attain sustainable regional economies by applying the urban
hierarchical model.
Based on regional properties, we conduct input-output/social
accounting matrix (IO/SAM) analysis, computable general
equilibrium (CGE) modeling, the new economic geography (NEG)
approach, and the multiple equilibrium approach while trying new
developments in methodology. Finally, we look for regional policies
using several simulations of changing regional economic structures.
III-4
Geospatial Networks and Spillover Effects in Interorganizational Economic Activities
Project Leader: SAITO Yukiko SF
＜Overview＞
After the experiences of the collapse of Lehman Brothers and natural
mega-disasters, it is recognized that regional idiosyncratic shocks can
be propagated to the whole economy and cause macro-economic
fluctuations. This means that economic activities of organizations are
strongly interconnected in a geospatially spread network. Strong
connections between organizations are realized in the propagation of
negative shocks on the one hand while causing competitiveness on
the other. Policy makers have pointed out the application of the
"power of connections."
In this project, we focus on inter-organizational connections such as
inter-firm transactions and knowledge spillovers. We will empirically
analyze network dynamics and spillovers in order to clarify the
mechanism of propagation of negative shocks and the causes of
competitiveness.
Other research results in Program III
＜ Research results belonging to research projects
prior to Fiscal 2013 ＞
Project: Studies on the Structure of Japanese
Economic Space and Japanese Supply Chains
Sustaining Growth Under Globalization and Disaster
Risks
Project Leader: HAMAGUCHI Nobuaki FF
Formation of Economic Regions and its Mechanism:
Theory and evidence
Project Leader: MORI Tomoya FF
＜Overview＞
In this project, using data from Europe, the United States, and Asia,
we will show that city systems are characterized by a spatial fractal
structure in terms of city size distributions, industrial location
patterns, as well as the transport network structure. In particular,
among the hierarchical economic regions to be identified by the
commodity flow surveys, we will show that city size distributions
exhibit the common power law. These empirically identified
endogenous regularities in turn are reproduced theoretically by
spatial economic models. Finally, policy simulations will be
conducted to investigate how these regularities restrict the regional
industrial and transport policies.
Discussion Papers
▶ Industrial Agglomeration in China: Case studies of the
Chinese Silicon Valley and the coastal SEZ (KURITA
Kyosuke) (DP 14-J-035)
▶ Enhancing
Enterprise Power through Exporting: Verification
of the learning effect by exporting (KURITA Kyosuke) (DP
14-J-034)
Project: Inter-organizational and Inter-inventors
Geographical Proximity and Networks
Project Leader: SAITO Yukiko SF
Discussion Papers
▶ Roles of Wholesalers in Transaction Networks (OKUBO
Toshihiro, ONO Yukako and SAITO Yukiko) (DP 14-E-059)
▶ Localization
of Knowledge-creating Establishments (INOUE
Hiroyasu, NAKAJIMA Kentaro and SAITO Yukiko) (DP
14-E-053)
18
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
▶ Supply
Chain Disruptions: Evidence from the Great East
Japan Earthquake (Vasco M. CARVALHO, NIREI Makoto
and SAITO Yukiko) (DP 14-E-035)
▶ Geography
and Firm Performance in the Japanese
Production Network (Andrew B. BERNARD, Andreas
MOXNES and SAITO Yukiko) (DP 14-E-034)
：
III
Regional
Economies
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
19
Program
IV
Technology and Innovation
Program Director
NAGAOKA Sadao
The sources of innovation are the creation of new
knowledge and its exploitation to solve real-world
problems. This program will develop original data on
innovation processes with a view toward improving
our understanding of such processes, including
surveys of inventors in Japan, North America, and
analysis serving evidence-based innovation policy making, exploiting
the two rounds of large scale surveys of inventors as well as
complementary statistics. The study focuses on the design of the
intellectual property system for innovation (institutional sources of
the variation of patent values in the United States and Japan,
employee inventor rights, disclosure as knowledge source, and the
patent system as seen by startups and foreign firms), research and
development (R&D) productivity (inventor life-cycle productivity,
patents as a cluster, standard-based innovation), and universityindustry collaborations (effects of the acquisition of legal person
status by national universities, matching between industrial
innovation and higher education). The project pursues international
research collaborations with leading scholars abroad.
Europe. Furthermore, it will conduct analysis from a
Major Research Results
global perspective so as to contribute to evidence：
IV
Technology and
Innovation
based policy formation conducive to technology
program will analyze a broad range of issues,
Discussion Papers
▶ Incentive Design for Inventors: Theory and empirical
evidence (NAGAOKA Sadao, OWAN Hideo and ONISHI
Koichiro) (DP 14-J-044)
including an assessment of intellectual property
▶ Scientific
development and innovation. Specifically, the
Sources of Corporate Inventions in Japan:
Evidence from an inventor survey (KINUKAWA Shinya) (DP
14-J-038)
systems such as patent systems, knowledge transfer
and mobility of people across organizations,
university-industry cooperation, technical standards
for innovation, collaboration in innovation, corporate
organization and industrial organization to promote
IV
innovation, and international comparison of
entrepreneurship.
Introduction of Research Projects
IV-1
Research on Innovation Process and its Institutional
Infrastructure
Project Leader: NAGAOKA Sadao FF
＜Overview＞
This project aims at deepening our understanding of the innovation
process in Japan from an international perspective and at providing
20
IV-2
Empirical Studies on "Japanese-style" Open Innovation
Project Leader: MOTOHASHI Kazuyuki FF
＜Overview＞
Although the innovation system in Japan has been said to be
characterized by the "not invented here" (NIH) attitude primarily
taken by large companies, a shift to open innovation involving
external collaboration is becoming increasingly important given
technological progress and more intense global competition.
According to RIETI's new product development process survey,
active research and development (R&D) collaborations with business
partners, such as suppliers and customers, are found for Japanese
firms. This pattern might be different from the concept of open
innovation by Henry Chesbrough, which refers to technology
transactions taking place in the open market. In this project, we
conduct empirical research on "Japanese-style open innovation," and
draw some policy implications for science, technology and
innovation policy in Japan.
Major Research Results
Discussion Paper
▶ Open Innovation Effects of Patent Applications: An empirical
study of inkjet technology patents (KINUKAWA Shinya) (DP
14-J-039)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
METI-RIETI Symposium
“A New Paradigm of Manufacturing Evolving from 3D Printing
Technology” (April 21, 2014)
IV-4
Innovation, Incentives, and Organizations
Project Leader: ITOH Hideshi FF
＜Overview＞
The main purpose of this project is to understand how parties'
incentives to engage in innovation activities are affected by various
institutional features. We apply theories of incentives under
asymmetric information and imperfect enforcement to incentive
problems characterized by risk taking, limited performance
measurement and verifiability, dynamic learning, trade-off between
exploration and exploitation, and the importance of information
generation and communication. We then examine implications and
applications for legal rules, institutions, social norms, regulations,
corporate governance, organizational structures, and compensation
systems in Japan.
：
IV
The Role of Public Research Institutions in the
Japanese National Innovation System
Technology and
Innovation
IV-3
IV-5
Standards and Intellectual Property
Project Leader: AOKI Reiko FF
Project Leader: GOTO Akira FF
＜Overview＞
The aim of this project is to investigate the role of public research
institutions (PRI) within Japan's national innovation system (NIS) in
an era after that of the catch-up development model. There are many
interesting studies on the role of universities in NIS, but those on
PRIs are rather limited.
The research intends to use three approaches: first, statistical analysis
to understand the role of PRIs using patent and bibliometric data;
second, a questionnaire survey of PRIs and researchers thereof; and
third, an international comparison on the role of PRIs in a national
innovation system.
Major Research Results
Discussion Paper
▶ Innovation and Public Research Institutes: Cases of AIST,
RIKEN, and JAXA (SUZUKI Jun, TSUKADA Naotoshi and
GOTO Akira) (DP 14-E-021)
＜Overview＞
We study the role of standards and intellectual property as part of
global innovation and marketing strategies using a law and
economics framework. The project includes case studies of product
and technology standardization strategies, including platforms, and
essential and patent litigation, from both economic and legal
perspectives. In addition, we conduct empirical analysis of patent and
standard document data and theoretical analysis to derive a general
framework. Through our study of past and present strategies, the
framework will allow us to derive policy implication covering both
existing and new technologies and products.
Major Research Results
Policy Discussion Paper
▶ Age of De Jure Standard and its Determinants: Dataset
linking standard technology areas to economic survey data
(TAMURA Suguru) (PDP 14-P-020)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
21
IV-6
Health Policy and Innovation
Project Leader: IIZUKA Toshiaki FF
＜Overview＞
In recent years, healthcare markets such as pharmaceuticals, medical
devices, and regenerative medicines have experienced various
technological breakthroughs, and these innovations are expected to
establish a new market in the near future. In these markets,
government regulations, research and development (R&D)
incentives, and price regulations play a major role in promoting
innovations. The objective of this project is to understand the impact
of health-related policies on innovations. For example, we study
pharmaceutical R&D on rare diseases in Japan by empirically
examining the impact of health policies on innovation activities. A
comparison to similar policies in foreign countries will also be made.
：
IV
Technology and
Innovation
IV-7
Study on Technology Know-how and its Protection via
Questionnaire Survey on the Japanese Manufacturing
Industry
Project Leader: WATANABE Toshiya FF
＜Overview＞
The purpose of this study is a quantitative evaluation on technology
know-how based on research and development by the Japanese
manufacturing industry. Via a questionnaire survey, the economic
magnitude and variation of the technology know-how in each
industrial field is studied. Based on this study, we quantitatively
estimate unintended technology know-how leakage. Furthermore, the
effective management to protect technology know-how leakage is
shown by clarifying the effect of the level of trade secret protection
and detailed management methods conducted by industry on the
technology know-how leakage.
Other research results in Program IV
＜ Research results independent from any research
project ＞
Innovation Seminar
“Conflict Resolution, Public Goods and Patent Thickets”
(November 5, 2014)
22
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Program
V
Raising Industrial and Firm Productivity
Program Director
FUKAO Kyoji
The aim of this program is to measure industry- and
firm-level productivity and its determinants for Japan
and various East Asian countries and to conduct
research on policies aimed at raising productivity. At
the industry level, in addition to updating and
expanding the Japan Industrial Productivity (JIP) and
China Industrial Productivity (CIP) databases in
collaboration with Hitotsubashi University, the
Project "Research Unit for Statistical and Empirical Analysis in
Social Sciences" (G-COE Hi-Stat), seeks to update annually the
Japan Industrial Productivity (JIP) Database and conduct analyses of
Japan's industrial structure and productivity trends. Moreover, it aims
to update and revise the China Industrial Productivity (CIP) Database
for analyses of the Chinese economy, for which—even though it is a
driving force of global economic growth—sufficient official statistics
are unavailable. Furthermore, by continuing the Asia KLEMS project
with the Asian Development Bank Institute (ADBI), Bank of Korea,
etc. and linking up with Harvard University's World KLEMS project,
the East Asian Industrial Productivity Project will make it possible to
conduct comparisons of productivity trends for countries around the
world, including Japan and China.
program will construct an industrial productivity
database by prefecture for Japan and examine the
impact of the recent earthquake on regional economies
Major Research Results
government statistics and corporate financial data in
Discussion Papers
▶ Globalization and Domestic Operations: Applying the JC/JD
method to Japanese manufacturing firms (ANDO Mitsuyo
and KIMURA Fukunari) (DP 15-E-010)
Japan and abroad, the program will research the
▶ Constructing
and policies for reconstruction. At the firm or
establishment level, employing micro-data from
corporate performance, policies for raising
productivity in the service sector, and productivity
dynamics from an international perspective—including
productivity differentials between Japanese, Chinese,
Raising Industrial
and Firm
Productivity
impact of globalization, how changes in demand affect
China's Net Capital and Measuring Capital
Services in China, 1980-2010 (Harry X. WU) (DP 15-E-006)
：
V
following: productivity differentials between firms, the
▶ Constructing Annual
Employment and Compensation
Matrices and Measuring Labor Input in China (Harry X. WU,
Ximing YUE and George G. ZHANG) (DP 15-E-005)
▶ Reconstructing
China's Supply-Use and Input-Output Tables
in Time Series (Harry X. WU and ITO Keiko) (DP 15-E-004)
and Korean firms—as well as other related issues.
V
At the industry and firm level, the program will
measure investment in intangible assets such as
research and development, software, in-house
training, and organizational structure—all of which
are important sources of innovation and productivity
Workshop
“The 2nd Asia KLEMS Database Management Workshop”
(October 17, 2014)
RIETI World KLEMS Symposium
“Growth Strategy after the World Financial Crisis” (May 20,
2014)
growth—and will examine the economic effects of
Third World KLEMS Conference
(May 19-20, 2014)
such investments.
Introduction of Research Projects
V-1
East Asian Industrial Productivity
Project Leader: FUKAO Kyoji FF
＜Overview＞
Increases in productivity provide a key source of economic growth,
especially for countries like Japan, where the labor force is shrinking.
The East Asian Industrial Productivity Project, in cooperation with
Hitotsubashi University's Global Centers of Excellence (COE)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
23
V-3
Related URLs
▶ Japan Industrial Productivity Database 2014 (JIP 2014)
http://www.rieti.go.jp/en/database/JIP2014/index.html
Regional-Level Japan Industrial Productivity
▶ China
Project Leader: TOKUI Joji FF
Industrial Productivity Database 2011 (CIP 2011)
http://www.rieti.go.jp/en/database/CIP2011/index.html
V-2
Study on Intangible Assets in Japan
Project Leader: MIYAGAWA Tsutomu FF
：
V
＜Overview＞
Since 2007, we have measured intangible investment in Japan at the
aggregate and firm levels. In 2012, we released our estimates of
intangible investment by industry on the RIETI website. Other
research projects on intangibles such as INTAN-Invest and
Conference Board link to this website. In fiscal 2013 and fiscal 2014
using our data on intangibles, we will focus on the following three
issues: (1) international comparison of the economic effects of
intangibles; (2) effects of each intangible component on productivity
growth; and (3) economic effects of intangible investment in the
public sector.
Raising Industrial
and Firm
Productivity
Major Research Results
Discussion Papers
▶ Intangible Investments and their Consequences: New
evidence from unlisted Japanese companies (HARADA
Nobuyuki) (DP 14-E-058)
▶ How
Does the Market Value Organizational Management
Practices of Japanese Firms? Using interview survey data
(KAWAKAMI Atsushi and ASABA Shigeru) (DP 14-E-050)
Database: Database Refinement and Its Analysis
＜Overview＞
The purpose of this research project is to update and refine our newly
compiled Regional-Level Japan Industrial Productivity Database
(R-JIP) and to carry out some analyses using this database. One
refinement is to estimate the regional price level differences and
reflect them in our output estimation. This is especially important for
our productivity analysis of the service industries. The other
refinement is to extend our database retroactively to the period before
1970. This period includes Japan's high economic growth era when
its economy experienced dynamic structural change. We can analyze
the regional economic convergence based on the longer period
covering this interesting period. Other research being planned are
analyses of the regional propagation of the severe economic decline
after the collapse of Lehman Brothers in 2008, regional income
differences taking into account regional income transfers, transitions
of the regional industrial structure, reconstruction process following
the 2011 Great East Japan Earthquake, and micro data analysis of
regional productivity differences.
Major Research Results
Discussion Papers
▶ Aging, Interregional Income Inequality, and Industrial
Structure: An empirical analysis based on the R-JIP
Database and the R-LTES Database (FUKAO Kyoji and
MAKINO Tatsuji) (DP 15-E-022)
Related URLs
▶ Regional-Level Japan Industrial Productivity (R-JIP)
Database 2012
http://www.rieti.go.jp/jp/database/R-JIP2012/index.html
(in Japanese)
▶ Is
Productivity Growth Correlated with Improvements in
Management Quality? An empirical study using interview
surveys in Korea and Japan (MIYAGAWA Tsutomu, Keun
LEE, EDAMURA Kazuma, YoungGak KIM and Hosung
JUNG) (DP 14-E-048)
Publication
Intangibles, Market Failure
and Innovation Performance
Edited by
Ahmed BOUNFOUR,
MIYAGAWA Tsutomu
Springer, December 2014
24
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
V-4
Analysis on Service Industries: Productivity,
Economic Welfare, and Policy Evaluation
Through these studies, we expect that this project will provide us
with new findings to help gain a deeper understanding of the
competitiveness of Japanese firms and to provide policy implications
to enhance the competitiveness of Japanese firms.
Project Leader: KWON Hyeog Ug FF
Sub-Leader: INUI Tomohiko FF
Major Research Results
＜Overview＞
Productivity in the Japanese service industry has been stagnating for
over 40 years since the 1970s. The share of the service industry's
value added in the total Japanese economy has reached around 70%
in recent years, and the recovery of productivity growth in this
industry is the key to sustaining higher economic growth and higher
productivity improvement.
▶ The
Impact of Foreign Firms on Industrial Productivity: A
Bayesian-model averaging approach (TANAKA Kiyoyasu)
(DP 15-E-009)
▶ The
Impact of Globalization on Establishment-Level
Employment Dynamics in Japan (KODAMA Naomi and INUI
Tomohiko) (DP 15-E-002)
▶ Disemployment
Caused by Foreign Direct Investment?
Multinationals and Japanese employment (KIYOTA Kozo and
KAMBAYASHI Ryo) (DP 14-E-051)
▶ Price,
Quality, and Productivity: Reconsidering the
determinants of exporting behavior (MATSUURA Toshiyuki)
(DP 15-J-010)
：
V
Raising Industrial
and Firm
Productivity
In order to shape the policy agenda toward the recovery of
productivity growth in the service industry in Japan, we will conduct
a study on the determinants of productivity growth and
competitiveness in both the education and healthcare industries,
which have not been covered much in previous literature. In addition,
we will also analyze the effects of investments in information and
communications technology (ICT) and human capital on productivity
growth in the Japanese service industry, and examine the effects of
deregulation which leads to more efficient resource allocation and
higher productivity growth in the service industry.
Discussion Papers
▶ Misallocation and Establishment Dynamics (HOSONO Kaoru
and TAKIZAWA Miho) (DP 15-E-011)
Policy Discussion Papers
▶ Trends and Characteristics of Foreign Direct Investment in
Japan (TANAKA Kiyoyasu) (PDP 14-P-021)
Major Research Results
Discussion Paper
▶ Fertility and Maternal Labor Supply in Japan: Conflicting
policy goals? (Andrew S. GRIFFEN, NAKAMURO Makiko
and INUI Tomohiko) (DP 14-E-016)
▶ Foreign
Direct Investment in Japan: A review of the empirical
literature (KIYOTA Kozo) (PDP 14-P-007)
METI-RIETI Symposium
“Impact of Inward FDI and its Promotion for Japan's Economic
Growth” (March 10, 2015)
V-5
Competitiveness of Japanese Firms: Causes and
Effects of the Productivity Dynamics
Project Leader: KIYOTA Kozo FF
＜Overview＞
With the growth of firms in emerging economies, how to enhance the
competitiveness of firms is becoming one of the most important
concerns for policy makers and business leaders in Japan. This
project attempts to address this issue, using large-scale firm- and
plant-level data in Japan. The project consists of the following three
main studies:
1) Study on the resource misallocation and productivity distribution
of Japanese firms;
2) Study on the production and cost structure of Japanese firms;
3) Study on the relationship between productivity and firms' entry
into the export market.
RIETI-KEO Workshop
“Productivity of Japanese Firms: Current status and
challenges” (October 3, 2014)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
25
V-6
Decomposition of Economic Fluctuations for Supply
and Demand Shocks
Project Leader: KONISHI Yoko SF
：
V
＜Overview＞
Since the burst of the bubble economy in the early 1990s, the growth
rate of the Japanese economy has remained stagnant, and
productivity is continuing to decline. A number of researchers
recently investigated what occurred during the period. The
government is also attempting to answer the question in the quest for
an effective policy to increase gross domestic product (GDP) growth.
In empirical works, total factor productivity (TFP) is commonly used
as a measure of productivity. Specifically, we apply the CobbDouglas/Translog production function and the ordinary least squares
(OLS) method. However, some researchers have pointed out that
endogeneity problems can only exist in OLS and have also estimated
that TFP includes the demand shock through the price of products.
These problems may lead to incorrect implications when attempting
to find the reason(s) for fluctuations in the economy using the
estimated TFP. In this project, we look to decompose the effects of
productivity and demand shock on economic growth. We proposed a
method to decompose TFP-type quantity into demand, supply, and
other shocks in our previous project. In the project this time, we will
focus on measuring the productivity of the service industries.
Raising Industrial
and Firm
Productivity
V-7
Evaluating International Competitiveness
Project Leader: NOMURA Koji FF
＜ Overview ＞
The goal of this project is to provide new benchmark estimates of
industry-level price differentials between Japan and the United
States. These will be based on the U.S.-Japan bilateral input-output
table to be published in 2013 by METI and will make it possible to
measure industry-level productivity gaps and price competitiveness
between the U.S. and Japan. The system of purchasing power parities
to be constructed in this project will cover not only the products for
final demands, but also the products for intermediate demands, using
a detailed classification of 170 products. The study will also include
capital service by type of asset, including land, and labor services by
type of worker. In considering policy challenges Japan confronts at
present, our measurement will focus, in particular, on the wholesale
and retail trade sectors and the reconstruction of the energy supply
structure after the Fukushima Daiichi nuclear disaster. These are key
opportunities for closing the productivity gap between Japan and the
U.S.
26
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Program
VI
New Industrial Policy
Program Director
OHASHI Hiroshi
Leading nations appear to have ventured into the
formulation of strategies and policies that promote
both their own domestic industries and companies in
the global markets. This program will conduct
research on formulating industrial policies in the
aftermath of the Great East Japan Earthquake with a
view toward resolving issues being faced by the
Japanese economy. It will take into consideration the
roles played by product innovations while also looking
into the perspectives of, for example, environmental,
overseas rivals. Forthcoming changes in the nation's energy policy
and other challenges will bring about a harsher business environment
going forward. Against this backdrop, concerns have been raised over
the acceleration in offshoring of operations from Japan to lower cost
economies, particularly among manufacturers. As the Japanese
economy undergoes structural changes, shifting weight from the
manufacturing sector to the service sector, it is necessary to create
new industrial sectors to generate jobs. In this project, we will
conduct basic research to explore new industrial policy by taking
theoretical and empirical approaches based on the observations
described above.
VI-2
Issues Faced by Japan's Economy and Economic
Policy Part III: Heterogeneity among economic
agents
Project Leader: YOSHIKAWA Hiroshi FF
energy, and resource policies, competition policy, as
New Industrial
Policy
VI
：
VI
＜Overview＞
By focusing on heterogeneity among economic agents, this project
will clearly identify the issues faced by Japan's economy, separating
them into those concerning demand and those concerning supply. In
addition, policies that can address the issues will be proposed by
combining fundamental research based on econophysics with
empirical research on the Japanese economy. In the theoretical
aspects, distributions of firm size and firm-level productivity are of
central interest, while the consumption tax increase, recovery from
the Great East Japan Earthquake, and the Trans-Pacific Partnership
(TPP) are topics for empirical studies.
well as agricultural policy.
Major Research Results
Discussion Papers
▶ Representative Agent in a Form of Probability Distribution
(INOSE Junya) (DP 14-E-038)
▶ Firm
Growth Dynamics: The importance of large jumps
(ARATA Yoshiyuki) (DP 14-E-033)
▶ Product
Introduction of Research Projects
Innovation and Economic Growth Part IV: Demand
changes in an aging society (YOSHIKAWA Hiroshi and
ANDO Koichi) (DP 15-J-012)
▶ Rice
Tariffs and Their Impact on the Japanese Market (KEIDA
Masayuki) (DP 14-J-043)
VI-1
Basic Research for a New Industrial Policy
Project Leader: OHASHI Hiroshi FF
＜Overview＞
The Japanese economy has been burdened with a set of various
problems that have long existed in Japan. The high effective
corporate tax rate, among others, has been cited as a factor putting
Japanese companies at a disadvantage in competing with their
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
27
VI-3
Study on Corporate Finance and Firm Dynamics
Project Leader: UESUGI Iichiro FF
＜Overview＞
This project conducts policy-oriented empirical analyses of corporate
finance, financial intermediation, and firm dynamics. Specifically, the
research agenda that are in line with current policy concerns include
the status of small and medium enterprises' (SMEs) fund
procurement after the abolishment of the SME Finance Facilitation
Act, effectiveness of loans by government-affiliated financial
institutions, and firm dynamics after the Great East Japan
Earthquake. Other research topics such as the role of real estate
markets in bank lending channels and the effectiveness of equity
finance for economic growth are expected to bear a number of policy
implications.
▶ The
Going-Public Decision and Post-IPO Performance:
Evidence from Japan (HOSONO Kaoru and TAKIZAWA
Miho) (DP 15-J-005)
▶ Effects
of Lending Relationships with Government Banks on
Firm Performance: Evidence from a Japanese government
bank for small businesses (UESUGI Iichiro, UCHIDA
Hirofumi and MIZUSUGI Yuta) (DP 14-J-045)
Workshop
“Hitotsubashi-RIETI International Workshop on Real Estate
Market and the Macro Economy” (December 15, 2014)
Major Research Results
Discussion Papers
▶ Productivity, Firm Size, Financial Factors, and Exporting
Decisions: The case of Japanese SMEs (OGAWA Kazuo and
TOKUTSU Ichiro) (DP 15-E-031)
▶ Lender
：
VI
Banks' Provision of Overseas Market Information:
Evidence from Japanese small and medium-sized
enterprises' export dynamics (INUI Tomohiko, ITO Keiko and
MIYAKAWA Daisuke) (DP 14-E-064)
▶ Does
New Industrial
Policy
the Policy Lending of the Government Financial
Institution Substitute for the Private Lending during the
Period of the Credit Crunch? Evidence from loan level data in
Japan (SEKINO Masahiro and WATANABE Wako) (DP 14-E063)
▶ Natural
Disaster and Natural Selection (UCHIDA Hirofumi,
MIYAKAWA Daisuke, HOSONO Kaoru, ONO Arito, UCHINO
Taisuke and UESUGI Iichiro) (DP 14-E-055)
▶ Transaction
Partners and Firm Relocation Choice: Evidence
from the Tohoku Earthquake (ONO Arito, MIYAKAWA
Daisuke, HOSONO Kaoru, UCHIDA Hirofumi, UCHINO
Taisuke and UESUGI Iichiro) (DP 14-E-054)
▶ Information Asymmetry
in SME Credit Guarantee Schemes:
Evidence from Japan (SAITO Kuniyoshi and TSURUTA
Daisuke) (DP 14-E-042)
▶Impact
of Supply Chain Network Structure on FDI: Theory
and evidence (ITOH Ryo and NAKAJIMA Kentaro) (DP 14-E027)
▶ Business
Cycles, Monetary Policy, and Bank Lending:
Identifying the bank balance sheet channel with firm-bank
match-level loan data (HOSONO Kaoru and MIYAKAWA
Daisuke) (DP 14-E-026)
▶ Exploring
the Patterns of Venture Capital Syndication:
Evidence from investment-round data (TAKIZAWA Miho and
MIYAKAWA Daisuke) (DP 15-J-009)
28
VI-4
Energy and Industrial Structural Change after the
Fukushima Nuclear Accident
Project Leader: MANAGI Shunsuke FF
＜Overview＞
Since the Great East Japan Earthquake, Japan has faced increasingly
insecure energy demand and supply, energy policy, and climate
change policy conditions. It is now essential to have an integrated
energy portfolio considering economic strategy, climate change
policy, and energy security. This project studies the impact of recent
economic changes in energy demand and supply, and it builds an
economic model after taking into account the changes in industrial
and market structures which are caused by business establishments'
closures, entries, movements, productivity decreases, and other
factors. Based on this economic model, a direction for energy policy,
global warming policy, economic policy, and reconstruction policy
hereafter will be proposed.
Major Research Results
Discussion Paper
▶ Nuclear Power Plants Shutdown and Alternative Power
Plants Installation: A nine-region spatial equilibrium analysis
of the electric power market in Japan (HOSOE Nobuhiro)
(DP 14-E-069)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
(DP
14-E-069)
VI-5
VI-7
Globalization, Innovation, and Competition Policy
Price Network and Dynamics of Small and Medium
Enterprises
Project Leader: KAWAHAMA Noboru FF
Sub-Leader: OHASHI Hiroshi FF
Project Leader: AOYAMA Hideaki FF
＜Overview＞
The globalized economy has entered into a new phase in which
economic growth remains sluggish for a long time, particularly in the
developed countries. Against this backdrop, it has become a
worldwide trend to pay more attention to competition policy and its
underlying theories. Competition policy in Japan is also expected to
have an important role in maintaining vigorous competition in the
marketplace and thus spurring market-oriented innovations. Such
innovations are considered essential in order to foster economic
vitality in Japan. In this research project, we examine what direction
competition policy should take where the impact of globalization and
the importance of innovation have become immense. Comparative
studies are conducted, and the knowledge and insights gained from
legal studies, economic analysis, and practice are complementarily
used in the research process.
＜Overview＞
This project aims to reveal the dynamics and correlation of
performances of small, medium, and large firms and prices of goods,
in relation to the growth of Japanese economy. Small and medium
firms are key to the diversity of economics activities, which is crucial
for sustained growth. An important management task for such firms
is converting from being price takers to price leaders. This project
will utilize various data, including goods and consumer prices,
financial data of firms, and trading information between firms, to
reveal the fundamental mechanism of price determination and firm
dynamics from a network point of view, with the goal of finding a
new growth strategy for small and medium enterprises.
VI-6
Agricultural Policy Reform Aimed at Competitive
Major Research Results
Discussion Paper
▶ Deflation/Inflation Dynamics: Analysis based on micro prices
(YOSHIKAWA Hiroshi, AOYAMA Hideaki, IYETOMI Hiroshi
and FUJIWARA Yoshi) (DP 15-E-026)
Agriculture in the Age of Globalization and
：
VI
Decreasing Population
＜ Overview ＞
Although the elimination of or substantial reduction in tariffs on
agricultural products is required in the World Trade Organization
(WTO) and free trade agreement (FTA) negotiations (including the
Trans-Pacific Strategic Economic Partnership Agreement (TPP)
negotiations), the Japanese agricultural community is strongly
resisting it and insists on exempting as many agricultural products as
possible. On the other hand, the domestic market for edible
agricultural products, which has been protected by high tariffs, is
declining due to an aging and decreasing population. Measures
limited to protecting the domestic markets will clearly lead to a
decline in Japanese agriculture, and securing overseas markets is now
required for agriculture as well. Abenomics heavily emphasizes
agricultural policy reform. With an awareness of these problems, this
project outlines the necessary policy reform recommendations,
following the analysis of the obstacles of agricultural structural
reform and the recent agricultural policy directions of the United
States and the European Union.
New Industrial
Policy
Other research results in Program VI
Project Leader: YAMASHITA Kazuhito SF
＜ Research results belonging to research projects
prior to Fiscal 2013 ＞
Project: Issues Faced by Japan's Economy and
Economic Policy Part II: Population decrease,
sustained growth, economic welfare
Project Leader: YOSHIKAWA Hiroshi FF
Sub-Leader: UNAYAMA Takashi CF
Discussion Paper
▶Female Labor Market, Intra-household Allocation, and
Marriage (UNAYAMA Takashi) (DP 14-J-048)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
29
Program
VII
Human Capital
Program Director
TSURU Kotaro
Amid the rapid aging of Japanese society, intensifying
global competition, and recovery from the Great East
Japan Earthquake, utilizing its human resources will
be critical for Japan, a nation relatively lacking in
market institutions as a whole, we will also look into the
interrelationships of each constituent part, and in particular will make
suggestions regarding a comprehensive system of labor laws and
policies from a standpoint that transcends vertical segmentation and
boundaries. When conducting our analysis, we will fully embrace
international viewpoints and methods of analysis, including
experiences from Europe and elsewhere, and will attempt to elucidate
the relationships between labor laws and institutions and the labor
market and employment systems, and in turn the relationship with
economic performance.
natural resources, to maintain and strengthen its
economic dynamism and increase its growth potential.
This program will carry out multifaceted,
comprehensive research on measures for
strengthening human capital and human resources
capabilities, from a full life-cycle perspective
Major Research Results
Discussion Paper
▶ The Impact of a Demand Shock on the Employment of
Temporary Agency Workers: Evidence from Japan during the
global financial crisis (HOSONO Kaoru, TAKIZAWA Miho and
TSURU Kotaro) (DP 14-E-046)
including ideal labor market systems to increase
VII-2
worker incentive and ability, early childhood
education through higher education, human resources
Economic Analysis of Human Resource Allocation
development in employment years, and utilization of
Mechanisms within the Firm: Insider econometrics
elderly human resources.
using HR data
Project Leader: OWAN Hideo FF
：
VII
VII
Human Capital
Introduction of Research Projects
VII-1
Reform of Labor Market Institutions
Project Leader: TSURU Kotaro FF
＜Overview＞
In order to study a new "form" for Japan's labor market institutions
and types of reform, we will organize a study group that will conduct
theoretical and empirical research from various perspectives such as
law, economics and management. While looking broadly at labor
30
＜Overview＞
The internal labor market of the firm generally plays broad roles
including: (1) evaluating worker ability through actual work output;
(2) investing in human capital through on-the-job training; (3)
reallocating workers in accordance with human capital accumulation;
and (4) motivating workers through both short-term and long-term
incentives. Therefore, whether or not a certain personnel system is
efficient depends on the firm's employment of rational mechanisms to
serve the above multiple roles.
In this project, using personnel records from several Japanese firms,
we attempt to answer a number of questions such as: whether the
patterns we observe in their internal labor markets are consistent with
the theory based on rational firm behavior; whether internal labor
markets in Japanese firms, which do not face active external labor
markets in general, are any different in their functions from those of
their counterparts in Western economies; how institutional factors
affect human capital allocation and its pricing; and how changes in
worker assignment policy and organizational structure affect
innovation activities.
Major Research Results
Discussion Papers
▶ University Prestige, Performance Evaluation, and Promotion:
Estimating the employer learning model using personnel
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
datasets (ARAKI Shota, KAWAGUCHI Daiji and ONOZUKA
Yuki) (DP 15-E-027)
▶ Wages,
Promotions, and Gender Workplace Segregation
(HASHIMOTO Yuki and SATO Kaori) (DP 14-J-036)
regional
VII-5 employment.
Research Project on Mental Health from the
Perspective of Human Capital 2
Project Leader: SEKIZAWA Yoichi SF
VII-3
Fundamental Research for the Revival of a Vibrant
Economy and Society in Japan
Project Leader: NISHIMURA Kazuo FF
＜ Overview ＞
If Japan's economy and society are construed as complex systems,
hidden essential data behind the phenomena may be recognized.
Changing such essential data should improve the dynamic
movements generated by those systems and enable economic growth.
Through an integrated theoretical study based on a behavioral
economic analysis of different individuals and a dynamical analysis
of an economy composed of different economic agents, this project
aims to reveal the elements contributing to economic growth by
viewing the economy as a complex system. Our microeconomic
analysis is based on questionnaires, experiments, brain
measurements, and their analyses. Our macroeconomic analysis uses
approaches from nonlinear dynamics and will proceed through
discussions with researchers abroad. Both forms of analysis utilize
interdisciplinary approaches.
VII-4
The Changing Japanese Labor Market:
A perspective and desirable policy responses
Project Leader: KAWAGUCHI Daiji FF
Labor Market Analysis Using Matched EmployerEmployee Panel Data
Project Leader: YAMAMOTO Isamu FF
＜Overview＞
Considering growing social concern about the desirable labor market
design in a super-aged society, it is important to explore the behavior
of firms and workers and their interaction when examining firms'
competitive power and workers' work-life balance in Japan. This
project constructs matched employer-employee panel data, which
collect numerous information such as employment, wage, work
hours, human resource management, and work-life balance. Using
the matched panel data, this project carries out empirical research to
examine various issues in the Japanese labor market including
work-life balance and labor market mobility.
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Human Capital
＜Overview＞
The Japanese labor market has gone through rapid changes
represented by the declining significance of Japanese employment
practices and shrinking employment in the manufacturing sector.
Notwithstanding its importance, the driving factors for the observed
changes, their welfare implications, and desirable policy responses
have not been fully discussed yet. This project aims at finding
explanations for the changes, offering a future perspective, and
deriving policy implications from three different angles: structural
changes, changes caused by temporary macroeconomic shocks, and
regional employment.
VII-6
：
VII
＜Overview＞
In this research project, we aim at realizing economic growth through
the improvement of mental health. With this aim in mind, we
evaluate the effectiveness of interventions intended for alleviating
depression and/or anxiety and which are available for a wide range of
people with ease. These interventions include computerized cognitive
behavioral therapy (CCBT) using personal computers or
smartphones. We also examine whether consumer confidence, social
capital, and/or non-cognitive ability, which are thought of as related
to economic growth, would improve by the above mentioned
interventions.
31
regional
VII-7 employment.
The Effect of Diversity on Economic Growth and
Business Competitiveness
▶ Workers'
Mental Health, Long Work Hours, and Workplace
Management: Evidence from workers' longitudinal data in
Japan (KURODA Sachiko and YAMAMOTO Isamu) (DP
14-J-020)
Project Leader: HIGUCHI Yoshio FF
Sub-Leader: KODAMA Naomi CF
＜Overview＞
From the mid- and long-term perspective, the biggest constraint on
Japanese economic growth is the contraction of the labor force and
domestic demand. Minimizing the demographic constraint is a major
premise to return the Japanese economy back on a sustainable
development track. To address this problem, we need to create and
sustain a society in which females can fully exert their potential.
The project aims to perform empirical research on the impact of
women's participation and leadership on economic growth and
business competitiveness, and find methods on how to accomplish
this specifically. We also seek to obtain more information to capture a
better picture of highly skilled foreign professionals as a potential
workforce and the actual state of female entrepreneurs. We aim to
examine the effects of diversity on economic growth and contribute
to sustainable economic growth.
Other research results in Program VII
＜ Research results belonging to research projects
prior to Fiscal 2013＞
Project: Reform of Labor Market Institutions
：
VII
Project Leader: TSURU Kotaro FF
Human Capital
Discussion Papers
▶ Does Initial Job Status Affect Midlife Outcomes and Mental
Health? Evidence from a survey in Japan (OSHIO Takashi
and INAGAKI Seiichi) (DP 14-E-025)
Project: Research Project on Mental Health from the
Perspective of Human Capital
Project Leader: SEKIZAWA Yoichi SF
Discussion Papers
▶ Does the Three Good Things Exercise Really Make People
More Positive and Less Depressed? A study in Japan
(SEKIZAWA Yoichi and YOSHITAKE Naomi) (DP15-E-001)
Project: Impact of Diversity and Work-life Balance
Project Leader: HIGUCHI Yoshio FF
Discussion Papers
▶ Does Board Diversity Influence Firms' Innovative Activity?
Evidence from the firm-level micro data in Japan (INUI
Tomohiko, NAKAMURO Makiko, EDAMURA Kazuma and
OZAWA Junko) (DP 14-J-055)
▶ Corporate
Disclosure of Non-financial Information and
Ownership by Foreign Shareholders (KODAMA Naomi and
TAKAMURA Shizuka) (DP 14-J-054)
▶ Increasing
Organizational Performance through Diversity
and Organizational Climate Initiatives: What works, what
doesn't (TANIGUCHI Mami) (DP 14-J-042)
▶ The
Potential for Women's Career Development through
Overseas Employment and Accumulation of Management
Know-How (USHIO Naomi and SHIMURA Kotaro) (DP
14-J-032)
▶ Organizational
Informatization and Promoting the Active
Participation of Women in the Workplace (USHIO Naomi and
SHIMURA Kotaro) (DP 14-J-031)
▶ The
▶ An
▶The
▶ Does
Hidden Curriculum and Social Preferences (ITO
Takahiro, KUBOTA Kohei and OHTAKE Fumio) (DP 14-E024)
Effects of Personality Traits and Behavioral
Characteristics on Schooling, Earnings, and Career
Promotion (LEE SunYoun and OHTAKE Fumio) (DP 14-E023)
Introduction to Affirmative Action Policies in Korea:
Consequences and implications for Japan (OSAWA Machiko
and KIM Myoung Jung) (DP 14-J-030)
Gender Diversity in Management Contribute to
Profitability, Productivity, and the AA system in China and
Korea? (ISHIZUKA Hiromi) (DP 14-J-029)
▶ Winning
the Race against Technology (KAWAGUCHI Daiji
and MORI Yuko) (DP 14-E-017)
▶ The
Impact of Student Loan Reform on College Enrollment
(SANO Shinpei and KAWAMOTO Takaaki) (DP 14-J-037)
▶ Workers'
Mental Health and Firm Performance: Evidence
from firms' longitudinal data in Japan (KURODA Sachiko and
YAMAMOTO Isamu) (DP 14-J-021)
32
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Program
VIII
Social Security, Taxation, and Public Finance
Program Director
FUKAO Mitsuhiro
Japan has to maintain its economic dynamism in the
face of its rapid aging population and low fertility
rate. This program will carry out multifaceted,
integrated research on Japan's social security system,
taxation, and public finance. The research subjects
include (1) an analysis of comprehensive panel data on
the elderly, (2) possible reforms to the social security
and taxation systems, (3) a proposal for combining
carbon taxes and investment subsidies in energy
conservation, (4) optimal fiscal policy measures for
reconstruction from the recent earthquake, economic
recovery, and fiscal consolidation, and (5) new forms
of public services, including the "third sector."
VIII-1
A Cost-Benefit Analysis of Fiscal Consolidation
Measures
Project Leader: FUKAO Mitsuhiro FF
＜Overview＞
We evaluate and estimate the effectiveness and the cost of monetary
policy involving a massive expansion of the central bank's balance
Our second problem is the welfare cost of fiscal consolidation. The
Japanese government must raise various taxes on a large scale to cut
budget deficits and to finance the social security system. However,
higher tax rates will impair efficient allocation of resources. We will
compare the welfare cost and income distribution effects of fiscal
consolidation measures under different taxation methods including
higher income and social security taxes and an inflation tax on
government debt. We also will evaluate the effects of changes in
immigration policy on the potential growth rate.
Major Research Results
Discussion Paper
▶ The Effect of Corporate Tax Rate Reduction: A simulation
analysis with a small open economy DSGE model for Japan
(HASUMI Ryo) (DP 14-J-040)
VIII-2
Toward a Comprehensive Resolution of the Social
Social Security,
Taxation, and
Public Finance
Introduction of Research Projects
Although the BOJ can absorb large losses due to profit earned from
bank note issuance, there is a certain limit. If the losses are too large
for the BOJ to absorb, it will have a serious problem in conducting
monetary policy to stabilize the inflation rate. For example, the BOJ
will have to stop fiscal transfer of its profit to the government. The
BOJ also may have to raise reserve requirements or raise general
prices to increase the demand for the monetary base to increase its
profit.
：
VIII
VIII
sheet. The Bank of Japan (BOJ) buys a large amount of long-term
government bonds at very low interest rates so as to raise the
inflation rate. Successful implementation of this policy is likely to
raise long-term interest rates, and the BOJ will lose money due to a
fall in government bond prices. Commercial banks and insurance
companies also will suffer from lower bond prices. Furthermore,
households will suffer from lower returns on deposits and insurance
policies. The government has to pay higher interest rates on its debt,
and it may have to use public funds to protect depositors and
insurance policy holders of weakened financial institutions.
Security Problem: A new economics of aging
Project Leader: ICHIMURA Hidehiko FF
Sub-Leader: SHIMIZUTANI Satoshi CF
＜Overview＞
As the aging of society around the world continues at an
unprecedented pace, there is a need to develop sustainable social
security systems that do not lower the quality of life of the elderly.
This project will conduct the "global-standard" panel study of
middle-aged and elderly subjects, fully incorporating results from
past studies and similar surveys of the elderly (i.e., the Health and
Retirement Study, the English Longitudinal Study of Ageing, and the
Survey of Health, Ageing and Retirement in Europe) to realize a new
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
33
microeconomic and comprehensively market-oriented approach
premised on the diversity of the elderly. In doing so, it will overcome
the limitations of past approaches that focused individually on
specific fields such as health care, long-term care, and pensions, as
well as that of simulation analysis using macro models. Through the
collection of data that enables a multifaceted international
comparison of health condition, economic situation, family
relationships, employment status, and social participation, the project
will establish in the Japanese social security policy field evidencebased policymaking based on a wealth of microeconomic data and
will contribute to policymaking in other countries based on Japan's
experience.
Major Research Results
RIETI-JER Workshop
“Economics of Aging in Japan and Other Societies” (December
13, 2014)
RIETI-JSTAR Symposium
“Japan's Future as a Super Aging Society: International
comparison of JSTAR datasets” (December 12, 2014)
numbers show that Japan will face the danger of a serious labor force
shortage. To address this situation, a rise in the fertility rate no longer
seems effective, and Japan will have to rely on immigration. In this
project, we investigate immigration policies of foreign countries and
their effectiveness, and survey academic research on this field. As a
result, a proposal of an optimal immigration policy for Japan in the
future is expected.
VIII-4
Social Security System to Revive Economic Vitality
and Improve the Quality of Life
Project Leader: NAKATA Daigo SF
＜Overview＞
First, we estimate the impact of the social security burden on
corporate behavior. Especially, using micro data, the impact of
employers' contributions for social insurance on employment, wages,
and investment activities are analyzed. With this research, we can
provide useful analysis for policy discussion to strive toward
establishing a social security system that is consistent with economic
activities and growth. Second, using macroeconomic simulation, we
study the effect of the social security sector on economic welfare,
growth, and tax revenue. In those studies, we can understand the
optimal size of the social security sector in the Japanese economy.
Finally, we evaluate the efficiency of long-term care (LTC) providers
and the turnover factor in the LTC labor market, toward a sustainable
LTC system in the super-aged Japanese society.
Major Research Results
Panel discussion
Discussion Paper
▶ Wage Structure of Japanese Care Worker: College Premium
and Qualification Premium" (YIN Ting, KAWATA Keisuke and
XU Zhaoyuan) (DP 14-J-033)
：
VIII
RIETI Seminar
“Trends in Disability in a Super-Aging Society: Adapting the
Future Elderly Model to Japan” (September 5, 2014)
VIII-5
Social Security,
Taxation, and
Public Finance
Theoretical and Empirical Analyses on Incidences of
Related URL
▶ The Japanese Study of Aging and Retirement (JSTAR)
http://www.rieti.go.jp/en/projects/jstar/index.html
VIII-3
Optimal Immigration Policy for Japan
Project Leader: NAKAJIMA Takanobu FF
＜Overview＞
The National Institute of Population and Social Security Research
estimates the population of Japan to be 80 million in 2060 and 30
million in 2110 and the working-age population (15 to 64) to
comprise 49% and 45% of that population, respectively. These
34
Corporate Income Taxation
Project Leader: DOI Takero FF
＜Overview＞
This project analyzes quantitatively who actually bears the burden of
the corporate income tax and how much of this burden is borne by
the people by building a theoretical model and implementing
econometric analyses. This project seeks to find facts that benefits
resulting from the reduction of the corporate income tax rate go
beyond corporations, and to derive policy implications on the reform
of corporate income taxation. In theoretical analysis, the focus is to
build a dynamic macroeconomic model with equipment investment
and corporate finance in order to investigate incidences of corporate
income tax. In econometric analyses using corporate financial
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
statements, we will seek to describe realistic firm behaviors based on
the theoretical model. From these results, we will identify
quantitatively the degree to which such incidences of corporate
income tax affect labor and capital incomes.
and fiscal policies by conducting policy simulations based on the
results of the above analyses. The novelty of the research is its
comparison of the causes and solutions to the aging population and
the diminishing number of children in both countries.
Major Research Results
VIII-6
On Monetary and Fiscal Policy under Structural
Changes and Societal Aging
Project Leader: FUJIWARA Ippei FF
Discussion Paper
▶ Decline in Consumption Expenditures after Retirement Using
Japanese Micro Data (JSTAR) (KUREISHI Wataru and YIN
Ting) (DP 15-J-001)
＜Overview＞
The Japanese economy has been experiencing such structural
changes as societal aging, industrial transition, and deepening of
globalization. On the other hand, although the causation with such
structural changes is not very clear, deflation has been persistent and
monetary policy has been restricted by the zero lower bound on
nominal interest rates. Given a very large debt-to-GDP ratio, room for
further fiscal easing also has decreased. Consequently, to stimulate
the economy over the business cycle, the economy needs to rely on
the commitment to future accommodative monetary policy.
In this project, we first clarify the implications that such structural
changes as societal aging have on the Japanese economy and
monetary as well as fiscal policies. Then, we seek how monetary and
fiscal policy should be designed in facing such structural changes.
Other research results in Program VIII
＜ Research results belonging to research projects　prior to Fiscal 2013＞
Project: Policy Mix for Fiscal Consolidation Without
Harming Japan's Economic Recovery
Project Leader: FUKAO Mitsuhiro FF
Discussion Paper
▶ Fiscal Consolidation in Japan (FUKAO Mitsuhiro) (DP 14-E015)
Major Research Results
Discussion Paper
▶ The Optimal Degree of Monetary-Discretion in a New
Keynesian Model with Private Information (WAKI Yuichiro,
Richard DENNIS and FUJIWARA Ippei) (DP 15-E-007)
VIII-7
A Socioeconomic Analysis of Households in
：
VIII
Environments Characterized by Aging Population
Social Security,
Taxation, and
Public Finance
and Low Birth Rates
Project Leader: YIN Ting F
＜Overview＞
Japan and its largest trading partner, China, have shared the dual
problems of rapid aging and very low birth rates. By analyzing micro
data from both nations, this research presents several empirical
analyses with the objective of devising possible solutions to these
concerns. First, the research reveals the causes of the trend toward
delayed marriage, which leads to low birth rates. Second, it explains
how population aging affects people's behavior toward consumption,
savings, work, family caregiving, and out-of-home care service, and
how these factors impact the national economy. We then compare the
cases of Japan and China and present implications for social security
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
35
Program
IX
Policy History and Policy Assessment
Program Director
TAKEDA Haruhito
The objective of this program's research is to review
and assess trade and industrial policy, chiefly over the
period from 1980 through 2000, as it looks at Japan's
economy, society, and trade and industrial policies at
covering the period 1945-1979, and the second one covering 19802000. First, since the previous research did not cover this topic
sufficiently, we evaluate Japan's economic policy after the 1990s.
Second, we compare Japan's rapid economic growth with that of
Korea, Taiwan, and China, and clarify the commonalities and
differences in the growth mechanism. Third, as well as working
toward an English version of the second phase of trade and industrial
policy history, this research studies the economic policy history of a
specific field (standards policy).
IX-2
the end of the 20th century.
At the same time, the final two decades of the 20th
century were a time of significant changes in Japan's
economy and society; they also were a time of very
major real and organizational changes in trade and
industrial policy. This research will attempt to make
clear how changes in trade and industrial policy at the
turn of the century were effected, based on activities
including assessment of the recognition of policy issues
over the preceding quarter-century, choice of policy
means in response, and their results.
IX
Introduction of Research Projects
：
IX
IX-1
Policy History
and Policy
Assessment
Historical Study on Japan's Trade and Industrial
Policy: From an international perspective
Project Leader: TAKEDA Haruhito FF
History of the Policies of the Nuclear and Industrial
Safety Agency
Project Leader: KIKKAWA Takeo FF
＜Overview＞
This project examines the 11-year history of the Nuclear and
Industrial Safety Agency (NISA) from its foundation in 2001 until
2012 when the entirety of its tasks were transferred to the Nuclear
Regulation Authority (NRA), a new organization affiliated with the
Ministry of the Environment, with an aim to make use of the lessons
learned from its experience in nuclear safety administration in the
future. We will not only record objective facts regarding the NISA—
its policies as well as its role and nature as an administrative organ—
but also attempt to account for the facts by incorporating analytical
and evaluative perspectives and examining how the NISA policies
have changed over the years.
IX-3
Historical Evaluation of Industrial Policies
Project Leader: OKAZAKI Tetsuji FF
＜Overview＞
The industrial policies that the Ministry of International Trade and
Industry (MITI) and the Ministry of Economy, Trade and Industry
(METI) implemented after World War II are attracting the keen
interest of policy makers in developing countries, who are making
efforts to promote industries in their own countries. However,
economists and economic historians are sharply divided on the
evaluation of the effects of Japanese industrial policy. The basic
reason for the mixed evaluation is that we still do not have a
sufficient accumulation of research that analyzes the positive and
negative effects of industrial policy, based on micro-data as well as
appropriate economic and econometric frameworks. In this project,
we aim at evaluating Japanese industrial policy quantitatively,
through collecting and analyzing original documents and detailed
micro-data, and thereby providing a solid basis for policy discussion.
＜Overview＞
The objective of this research is to develop policy history, based on
the achievements of first phase of trade and industrial policy studies
36
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Other research results in Program IX ＜ Research results independent from any research
project ＞
Related URL
▶ Information related to the History of Japan’s Trade and
Industry Policy
http://www.rieti.go.jp/jp/projects/hjtip/index.html
(in Japanese)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Nobuhiro Nakayama, History of Japan's Trade
and Industry Policy (11) Intellectual Property Policy
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P018)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Takeo Kikkawa, History of Japan's Trade and
Industry Policy (10) Natural Resources and Energy Policy
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P017)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Minoru Sawai, History of Japan's Trade and
Industry Policy (9) Industrial Technology Policy (KAWAMURA
Satoshi and TAKEDA Haruhito) (PDP 14-P-016)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Shigeru Matsushima, History of Japan's Trade
and Industry Policy (8) Consumer Goods Industries
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P015)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Shin Hasegawa (ed.), History of Japan's Trade
and Industry Policy (7) Machinery and Information Industries
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P014)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Shiro Yamazaki (ed.), History of Japan's Trade
and Industry Policy (6) Basic Industries Policy (KAWAMURA
Satoshi and TAKEDA Haruhito) (PDP 14-P-013)
＜ Research results belonging to research projects　prior to Fiscal 2013 ＞
Project:Historical Research on the Major Topics of
Japan's Trade and Industrial Policy
Project Leader: TAKEDA Haruhito FF
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Haruhito Takeda, History of Japan's Trade and
Industry Policy (5) Location, Environment and Safety Policy
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P012)
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Takemasa Ishihara (ed.), History of Japan's Trade
and Industry Policy (4) Commerce and Distribution Policy
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P011)
Discussion Papers
▶ Informing SMEs Better about Available Support Measures:
Consideration of the case of micro businesses (YASUDA
Takehiko) (DP 14-J-049)
▶ Abstract
▶ Japanese
▶ Abstract
of History of Japan's Trade and Industry Policy:
Abstract of Takeshi Abe (ed.), History of Japan's Trade and
Industry Policy (2) International Trade Policy (KAWAMURA
Satoshi and TAKEDA Haruhito) (PDP 14-P-009)
：
IX
Policy History
and Policy
Assessment
Industrial Policy and the Enhancement of Nuclear
Power Plants Efficiency: Promotion of domestic production
and the “Improvement & Standardization Plan” (ISHII
Susumu) (DP 14-J-026)
of History of Japan's Trade and Industry Policy:
Abstract of Tetsuji Okazaki (ed.), History of Japan's Trade
and Industry Policy (3) Industry Policy (KAWAMURA Satoshi
and TAKEDA Haruhito) (PDP 14-P-010)
▶ Abstract
Policy Discussion Papers
▶ Abstract of History of Japan's Trade and Industry Policy:
Abstract of Tetsuo Nakata (ed.), History of Japan's Trade and
Industry Policy (12) Small- and Medium-sized Enterprises
(KAWAMURA Satoshi and TAKEDA Haruhito) (PDP 14-P-019)
of History of Japan's Trade and Industry Policy:
Abstract of Konosuke Odaka, History of Japan's Trade and
Industry Policy (1) General Overview (KAWAMURA Satoshi
and TAKEDA Haruhito) (PDP 14-P-008)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
37
SP
Special Projects
Special Projects are independent from the prior nine
Research Programs.
normal agency problems between investors and managers, but also on
the problem of governance of the holding companies (headquarters of
multi-division firms) over their subsidiaries (business units). Further,
we continue to consider the diversified corporate governance
arrangement in Japanese firms that has been emphasized through our
previous works. The comparative approach with the United States,
the United Kingdom as well as continental European and Asian
business groups is also introduced into the analysis. In designing the
new governance arrangement, we consider the right balance between
the shareholders' and other stakeholders' interest. From these aspects,
we address (1) the corporate restructuring process including the
initiatives of the main bank, private equity firms, and mergers and
acquisitions (M&As), (2) the financial system and governance
arrangement that enable firms to take high risks, (3) the adequate
ownership and board structure that uphold the right balance between
shareholders and other stakeholders, and (4) the two-tiered
governance structure among the business groups and the functions of
their internal capital markets.
Major Research Results
Discussion Papers
▶ Uncertainty Avoiding Behavior and Cross-border Acquisitions
(Marc BREMER, HOSHI Akio, INOUE Kotaro and SUZUKI
Kazunori) (DP 15-E-033)
▶ Diversification,
Organization, and Value of the Firm
(USHIJIMA Tatsuo) (DP 15-E-019)
SP
METI-RIETI Symposium
“Corporate Governance Reform in Japan: Lessons from the
United Kingdom” (October 16, 2014)
Introduction of Research Projects
SP-1
Frontiers of Analysis on Corporate Governance:
Growth, value creation and corporate governance
Project Leader: MIYAJIMA Hideaki FF
From left to right, Colin MAYER (Peter Moores Professor of Management Studies, Saïd
Business School, University of Oxford), MIYAJIMA Hideaki FF
：
SP
＜Overview＞
This project aims at examining new corporate governance
arrangements that could encourage the further growth of Japanese
firms. We focus on the managerial autonomy (discretion) that
supports risk taking and active innovation. We focus not only on
Special Projects
38
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Related URL
▶ Frontiers of Analysis on Corporate Governance: Toward the
recovery of Japanese companies’ competitiveness
http://www.rieti.go.jp/jp/projects/fcga2011/index.html
(in Japanese)
The following data developed in or obtained for RIETI
research projects are data that are made open and
available to the public:
i) Japan Industrial Productivity Database 2014 (JIP 2014) http://www.rieti.go.jp/en/database/JIP2014/index.html
ii) China Industrial Productivity Database 2011 (CIP 2011)
http://www.rieti.go.jp/en/database/CIP2011/index.html
iii) Asian Monetary Unit (AMU) and AMU Deviation Indicators http://www.rieti.go.jp/users/amu/en/index.html
iv) Industry-Specific Nominal and Real Effective Exchange
Rates in Asia
http://www.rieti.go.jp/users/eeri/en/index.html
v) Japanese Study of Aging and Retirement (JSTAR)
http://www.rieti.go.jp/en/projects/jstar/index.html
vi) RIETI Trade Industry Database (RIETI-TID)
http://www.rieti.go.jp/en/projects/rieti-tid/index.html
vii) RIETI Foreign Direct Investment Database
(RIETI FDI Database2010)
http://www.rieti.go.jp/en/database/FDI2010/index.html
SP-2
RIETI Data Management Project
Project Leader: ODA Keiichiro SF
＜Overview＞
The data in RIETI's possession can be categorized as follows: data
available at relatively low cost, which research institutions would
ordinarily be expected to have on hand; large-scale datasets
purchased by individual research projects for use in their research;
and data generated by these research projects (including the results of
questionnaire surveys). The purpose of this project is to develop
infrastructure for facilitating more efficient utilization of these
datasets by users. An additional purpose of this project is to serve as a
forum for active discussion of related topics within RIETI, with an
eye to considering the possibility as well as methods to make these
datasets available to both researchers and the public at large as a
source of new knowledge.
viii) International Comparison of Productivity among Asian
Countries (ICPA) Project
http://www.rieti.go.jp/en/database/d03.html
Note: The RIETI Data Management Project has been involved
in the development and maintenance of the datasets listed as
i), iii), and vi), supporting data collection and system
architecture as well as periodically updating the databases.
Having accumulated considerable expertise in handling microdata
being in the possession of RIETI, we will also try to create convertors
for statistics data matching that enable researchers to quickly access
and analyze microdata. By enhancing our handling of data, we will
be better equipped to deal with the new Statistics Act and improve the
existing value and uniqueness of RIETI.
http://www.rieti.go.jp/en/database/index.html
：
SP
Special Projects
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
39
SP-3
SP-4
Research on the Liberalist Reforms of the Public-
Survey of International Trends and Discussions in
Private Relationship and the Establishment of the
Greenhouse Gas Emission Reduction Projects
Third Sector in Japan
under the UN Framework Convention on Climate
Project Leader: USHIRO Fusao FF
Change
Project Leader: KAINOU Kazunari F
＜Overview＞
This research project aims to offer a specific plan for the liberalist
reforms of the relationship between the public and private sectors and
to identify the challenges and the direction to be taken to restructure
the third sector through the reforms. This is to be done by researching
and studying the real picture of the public-private relationship as seen
in regulations, commissioning, and subsidiaries between government
agencies and the third sector organizations concerned, as well as the
business status of the third sector organizations therein, in each policy
area such as elderly care, welfare services for the disabled, childcare,
education, and medical care or in a cross-sectoral manner. Here, the
process is referred to as a liberalist reform as we think that
introducing drastic reforms in the existing public-private relationship,
toward encouraging free and transparent competition among diverse
providers and offering choice to users, is indispensable in order to
ensure efficient and high-quality public services in our country.
Major Research Results
RIETI Policy Symposium
“Introduction of Selection and Competition to Childcare
Centers and Kindergartens: Reconstruction of quasi-markets
and the third sector” (February 19, 2015)
＜Overview＞
Under the United Nations Framework Convention on Climate
Change (UNFCCC), parties to the Kyoto Protocol, including Japan
and the European Union, are allowed to use the Kyoto
Mechanisms—emissions trading, Joint Implementation (JI), Clean
Development Mechanism (CDM), etc.—in the first commitment
period from 2008 to 2012 in addition to their domestic activities to
achieve their respective greenhouse gas (GHG) emission reduction
commitments. Specifically regarding CDM and JI, under which
investments in emission reduction projects in third countries can be
taken as emission credits, various problems have been pointed out
and, accordingly, discussions are now underway to make changes to
the mechanisms.
In the 16th Conference of Parties (COP-16) to the UNFCCC held in
Cancun, Mexico in 2010, a new framework differing from that of the
Kyoto Protocol and involving the participation of the United States,
China, and other developing countries was set up as part of the
Cancun Agreement. Under the new framework, participating
countries or regions would voluntarily set GHG emission reduction
targets, and the achievement of the targets would be made subject to
multilateral review. It was also agreed that a new set of flexible
mechanisms, similar to the Kyoto Mechanisms, be institutionalized
under the new framework. However, the specifics of such flexible
mechanisms have yet to be worked out.
This survey seeks to investigate, analyze, and evaluate the progress
going forward in reforming the Kyoto Mechanisms under the Kyoto
Protocol, and it moves toward that in developing a new mechanism
with an aim to put forward international policy proposals for efficient
and effective GHG emission reductions in the future.
USHIRO Fusao FF
：
SP
Special Projects
40
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
SP-5
SP-6
Economic Analysis of Entrepreneurship
An Empirical Study on Economic Resilience and
Project Leader: MATSUDA Naoko F
Maintenance of Economic Strength Against
Disasters
＜Overview＞
This project aims to reveal insight into the co-founders with whom
entrepreneurs cooperate in their newly started ventures. Although
various research on nascent entrepreneurs have been accumulated,
those on persistently successful entrepreneurs have not yet been
conducted. Specifically, social capital of entrepreneurs is thought to
be one of the critical factors of successful entrepreneurship; however,
it needs further empirical analysis.
Among the issues, we focus on the relationships of co-founders and
entrepreneurs during the launch period. Research questions to be
asked are as follows: Does choosing an ex-colleague as a co-founder
accelerate the exit process or does it lead to earning extra profits?
How about selecting a former venture capitalist or an experienced
manager who had worked for a rival enterprise in the same sector?
In this research, with newly released data resources including
CrunchBase, these topics will be eagerly examined.
Project Leader: SAWADA Yasuyuki FF
＜Overview＞
We investigate empirically the factors that are effective in improving
and/or maintaining economic resilience and strength against
disasters. First, we review the Ministry of Economy, Trade and
Industry's pilot projects on the Business Continuity Management
System (BCMS) and provide impact assessments of policies on
BCMS formation. Second, we conduct a questionnaire survey on
disaster risk financing in the corporate sector—we quantitatively
analyze the status quo and determinants of the corporate sector's
demand for disaster risk financing and insurance. In particular, we
aim at identifying the causes of the low disaster insurance
subscription rate and finding the factors that are necessary to improve
the subscription rate. Third, we review the cases in various countries
that we have been investigating through RIETI projects (including
but not limited to Japan) so as to distinguish between aspects that are
generic and those that are case-specific regarding measures against
disasters.
Major Research Results
Discussion Papers
▶ Governing Board Interlocks and Probability of an IPO
(MATSUDA Naoko and MATSUO Yutaka) (DP 14-E-040)
▶ Relationship
between Governing Board Interlocks and Initial
Public Offerings (MATSUDA Naoko and MATSUO Yutaka)
(DP 14-J-023)
Other research results in Special Projects ＜Research results belonging to research projects
prior to Fiscal 2013＞
Project: Establishment of Credit Risk Database in
Selected Asian Countries and Improvement of SME
Database to Promote the Efficient Allocation of Loans
to the Growing SME Sector
Project Leader: YOSHINO Naoyuki FF
Policy Discussion Paper
▶ The Credit Guarantee System and Policy-based Finance for
Small- and Medium-sized Enterprises and a Database of
Small- and Medium-sized Enterprises (YOSHINO Naoyuki)
(PDP 15-P-003)
Project: Economic Analysis of Networks via Social
Network Services (SNS)
Project Leader: MATSUDA Naoko F
Special Projects
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
：
SP
Discussion Paper
▶ Empirical Analysis on Factors Behind Successful
Entrepreneurs (MATSUDA Naoko and MATSUO Yutaka) (DP
14-E-018)
41
Project: Post-disaster Recovery Policies and Insurance
Mechanisms against Disasters: Case studies on
earthquakes in Japan and floods in Thailand
▶ A Comparison
Project Leader: SAWADA Yasuyuki FF
▶ The
Discussion Papers
▶ The Long-Run Socio-Economic Consequences of a Large
Disaster: The 1995 earthquake in Kobe (William DUPONT IV,
Ilan NOY, OKUYAMA Yoko and SAWADA Yasuyuki) (DP
15-E-035)
▶ Natural
Disasters, Land Price, and Location of Firms:
Evidence from Thailand (SAWADA Yasuyuki, NAKATA
Hiroyuki and SEKIGUCHI Kunio) (DP 14-E-029)
▶ Disasters
and Risk Perception: Evidence from Thailand
Floods (NAKATA Hiroyuki, SAWADA Yasuyuki and
SEKIGUCHI Kunio) (DP 14-E-028)
Project: Basic Research on the Resilient Economy
Project Leader: FUJII Satoshi FF
Discussion Paper
▶ Empirical Analysis on the Relevance of the Resilience of
National Economies and Industry, Fiscal, and Monetary
Policies (MAEOKA Kenichiro, KANDA Yusuke, NAKANO
Takeshi, KUME Koichi and FUJII Satoshi) (DP 14-J-027)
Policy Discussion Paper
▶ Economic Resilience and Growth: Concept and applications
(FUJII Satoshi, KUME Koichi and KOBAYASHI Yohei) (PDP
14-P-006)
of the Wage Structure between the Public and
Private Sectors in Japan (MORIKAWA Masayuki) (DP
14-E-060)
Economics of Attribute-Based Regulation: Theory and
evidence from fuel-economy standards (ITO Koichiro and
James M. SALLEE) (DP 14-E-057)
▶ Japan's
Exorbitant Privilege (Kenneth S. ROGOFF and
TASHIRO Takeshi) (DP 14-E-047)
▶ Does
Export Yield Productivity and Markup Premiums?
Evidence from the Japanese manufacturing industry (KATO
Atsuyuki) (DP 14-E-037)
▶ Are
Large Headquarters Unproductive? Evidence from a
panel of Japanese companies (MORIKAWA Masayuki)
(14-E-036)
▶ What
Types of Company Have Female and Foreign
Directors? (MORIKAWA Masayuki) (DP 14-E-032)
▶ Innovation
in the Service Sector and the Role of Patents and
Trade Secrets (MORIKAWA Masayuki) (DP 14-E-030)
▶ Policy
Regime Change against Chronic Deflation? Policy
option under a long-term liquidity trap (FUJIWARA Ippei,
NAKAZONO Yoshiyuki and UEDA Kozo) (DP 14-E-019)
▶ Migration
Response to High Unemployment Rates: Spatial
econometric analysis using Japanese municipal data
(KONDO Keisuke) (DP 15-J-011)
▶ Development
of Statistical Accuracy Improvement
Methodology for Oil Refinery Sector's Energy and Carbon
Balance and Statistical Accuracy on Japanese General
Energy Statistics (KAINOU Kazunari) (DP 15-J-007)
▶ Development
Multidisciplinary research results
＜ Research results independent from any research
project ＞
Discussion Papers
▶ Service Trade and Productivity: Firm-level evidence from
Japan (MORIKAWA Masayuki) (DP 15-E-030)
▶ Sequential
Markets, Market Power and Arbitrage (ITO
Koichiro and Mar REGUANT) (DP 15-E-015)
▶ The
Persistence of Moral Suasion and Economic Incentives:
Field experimental evidence from energy demand (ITO
Koichiro, IDA Takanori and TANAKA Makoto) (DP 15-E-014)
▶ Fiscal
Cost of Demographic Transition in Japan (KITAO
Sagiri) (DP 15-E-013)
▶ Decomposition
：
SP
of Gender or Racial Inequality with
Endogenous Intervening Covariates: An extension of the
DiNardo-Fortin-Lemieux method (YAMAGUCHI Kazuo) (DP
14-E-061)
of the FY2013 Version of "General Energy
Statistics of Japan" (KAINOU Kazunari) (DP 15-J-006)
▶ Service
Trade and Productivity (MORIKAWA Masayuki)
(DP15-J-003)
▶ Recommendation
of Draft Revised Standard Calorific Value
and Carbon Emission Factor for Fossil Fuel Energy Sources
in Japan: 2013 FY revised standard calorific value and
carbon emission factor (KAINOU Kazunari) (DP 14-J-047)
▶ Gender
Income Gap among White-Collar Regular Workers: A
clarification of the determinants that explain an 80% of the
gap, and its mechanism (YAMAGUCHI Kazuo) (DP 14-J046)
▶ Demographic
Changes in China's Three Major
Megalopolises (MENG Jianjun) (DP 14-J-041)
▶ Are
Large Headquarters Unproductive? Evidence from a
Panel of Japanese Companies (MORIKAWA Masayuki) (DP
14-J-028)
▶ What
Special Projects
Types of Company Have Female and Foreign
Directors? An analysis using survey data (MORIKAWA
Masayuki) (DP 14-J-025)
▶ Innovation
in the Service Sector and the Role of Patents and
Trade Secrets (MORIKAWA Masayuki) (DP 14-J-024)
42
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Policy Discussion Papers
▶ A New Monthly Index of Real Economic Activity, 1960-2013
(ITO Arata) (PDP 15-P-004)
KIET-TIER-RIETI Workshop
“Future of Manufacturing Industry” (October 23, 2014)
▶ Implications
RIETI Special Seminar
“Creating Capabilities” by Nobel Prize-winning economist
Professor James J. Heckman (October 8, 2014)
for the Development of Local Economies and
SMEs in Japan: Perspective from a field survey conducted
on Germany, the EU's strongest economy (IWAMOTO
Koichi) (15-P-002)
▶ Quantitative
Effects of Growth Policies: An overview
(MORIKAWA Masayuki) (PDP 15-P-001)
Highlight Seminar series
▶ The 11th Highlight Seminar “What is the New Direction of the
Japanese Economy and Industry?” (January 30, 2015)
▶ The
10th Highlight Seminar “Japan-China Economic
Relations: Challenges and future directions” (November 10,
2014)
▶ The
9th Highlight Seminar “New Growth Strategy: Rural
economy vitalization and aggressive agriculture” (September
5, 2014)
▶ The
8th Highlight Seminar “Prices and Economic
Performance in Japan after the Consumption Tax Hike” (July
2, 2014)
James J. HECKMAN (Henry Schultz Distinguished Service Professor of Economics, The
University of Chicago)
RIETI Seminar on the U.S. Production Network
“Vertical Integration and Input Flows” (August 18, 2014)
CEPR-RIETI Workshop
“Labour Market Policy for Economic Growth” (January 16,
2015)
Ali HORTAÇSU (Professor, University of Chicago)
RIETI International Seminar
“Matching and Sorting in the Global Economy” (April 4, 2014)
Hitotsubashi-RIETI Energy Policy Salon
▶ The Fourth Energy Policy Salon “World Record-breaking
Photovoltaic Research in Japan, and the Next Steps toward
Hydrogen Society” (January 7, 2015)
▶ The
Third Energy Policy Salon “Unveiling the Next
Generation Fuel Cell Vehicle: The ultimate eco-car's status
quo and perspective” (July 22, 2014)
▶ The
：
SP
Special Projects
Second Energy Policy Salon “Genesis of the Worldleading ‘ENE-FARM’ Residential Fuel Cell System: Its
modular strategy and the ‘esprit’ of Japan's samurai
engineers honored with the receipt of the Prime Minister's
Award” (May 15, 2014)
Elhanan HELPMAN (Galen L. Stone Professor of International Trade, Harvard
University)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
43
Publications
Macro-performance of Small
and Medium Enterprises
Written by GOTO Yasuo
Nikkei Publishing Inc.,
October 2014
International Economics of
Outsourcing: Changing global trade
patterns and a microdata analysis
of Japanese firms
Written by TOMIURA Eiichi
Nippon Hyoronsha Co., Ltd.,
September 2014
Economic Analysis of Working Hours:
Prospects for a working style
in a super-aging society
Written by
YAMAMOTO Isamu, KURODA Sachiko
Nikkei Publishing Inc.,
April 2014
：
SP
Special Projects
44
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
DP
Discussion Papers
Note: Discussion Papers listed below were published
from April 2014 to March 2015.
Discussion Papers are research results formed in the shape of treatises, which principally have been through an internal review
process. To stimulate active debates, they are posted on our website.
(http://www.rieti.go.jp/en/publications/act_dp.html)
DP No.
Date
Title
Author（s）
15-E-038
March 2015
Assessing Asian Equilibrium Exchange Rates as Policy
Instruments
MASUJIMA Yuki (Japan Center for
Economic Research)
15-E-037
March 2015
Effects of a Quantitative Easing Monetary Policy Exit Strategy OGAWA Eiji (RIETI)
WANG Zhiqian (Hitotsubashi University)
on East Asian Currencies
Project No.
II-3
II-3
15-E-036
March 2015
Industry-specific Real Effective Exchange Rates in Asia
SATO Kiyotaka (Yokohama National
University)
SHIMIZU Junko (Gakushuin University)
Nagendra SHRESTHA (Yokohama National
University)
Shajuan ZHANG (Yokohama National
University)
15-E-035
March 2015
The Long-Run Socio-Economic Consequences of a Large
Disaster: The 1995 earthquake in Kobe
William DUPONT IV (Colby College)
Ilan NOY (Victoria University of Wellington)
OKUYAMA Yoko (Yale University)
SAWADA Yasuyuki (RIETI)
SP-Others
15-E-034
March 2015
The Strength of Long Ties and the Weakness of Strong Ties:
Knowledge diffusion through supply chain networks
TODO Yasuyuki (RIETI)
Petr MATOUS (University of Tokyo)
INOUE Hiroyasu (Osaka Sangyo University)
I-4
15-E-033
March 2015
Marc BREMER (Nanzan University)
HOSHI Akio (Gakushuin University)
Uncertainty Avoiding Behavior and Cross-border Acquisitions INOUE Kotaro (Tokyo Institute of
Technology)
SUZUKI Kazunori (Waseda University)
15-E-032
March 2015
Impact of Extensive and Intensive Margins of FDI on
Corporate Domestic Performance: Evidence from Japanese
automobile parts suppliers
MATSUURA Toshiyuki (Keio Economic
Observatory, Keio University)
15-E-031
March 2015
Productivity, Firm Size, Financial Factors, and Exporting
Decisions: The case of Japanese SMEs
OGAWA Kazuo (Institute of Social and
Economic Research, Osaka University)
TOKUTSU Ichiro (Graduate School of
Business Administration, Kobe University)
15-E-030
March 2015
Service Trade and Productivity: Firm-level evidence from
Japan
MORIKAWA Masayuki (RIETI)
15-E-029
March 2015
Impact of Exchange Rate Shocks on Japanese Exports:
Quantitative assessment using a structural VAR model
IWAISAKO Tokuo (Hitotsubashi University)
NAKATA Hayato (Meisei University)
II-2
15-E-028
March 2015
Oil Price, Exchange Rate Shock, and the Japanese Economy
IWAISAKO Tokuo (Hitotsubashi University)
NAKATA Hayato (Meisei University)
II-2
15-E-027
March 2015
University Prestige, Performance Evaluation, and Promotion:
Estimating the employer learning model using personnel
datasets
ARAKI Shota (RIETI)
KAWAGUCHI Daiji (RIETI)
ONOZUKA Yuki (Hitotsubashi University /
University of Western Ontario)
VII-2
VI-7
II-3
SP-1
I-1
VI-3
Multidisciplinary
15-E-026
March 2015
Deflation/Inflation Dynamics: Analysis based on micro prices
YOSHIKAWA Hiroshi (RIETI)
AOYAMA Hideaki (RIETI)
IYETOMI Hiroshi (University of Tokyo)
FUJIWARA Yoshi (University of Hyogo)
15-E-025
March 2015
Aid for Trade and Global Growth
NAITO Takumi (Waseda University)
I-3
15-E-024
February 2015
Automobile Exports: Export price and retail price
YOSHIDA Yushi (Shiga University)
SASAKI Yuri (Meiji Gakuin University)
II-1
15-E-023
February 2015
Comparative Advantage, Monopolistic Competition, and
Heterogeneous Firms in a Ricardian Model with a Continuum ARA Tomohiro (Fukushima University)
of Sectors
I-3
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
45
46
DP No.
Date
Title
Author（s）
Project No.
15-E-022
February 2015
Aging, Interregional Income Inequality, and Industrial
Structure: An empirical analysis based on the R-JIP Database
and the R-LTES Database
FUKAO Kyoji (RIETI)
MAKINO Tatsuji (Hitotsubashi University)
V-3
15-E-021
February 2015
Impacts of the World Trade Organization on Chinese Exports
WAKASUGI Ryuhei (RIETI)
ZHANG Hongyong (RIETI)
I-1
15-E-020
February 2015
Abenomics, Yen Depreciation, Trade Deficit, and Export
Competitiveness
SHIMIZU Junko (Gakushuin University)
SATO Kiyotaka (Yokohama National
University)
II-1
15-E-019
February 2015
Diversification, Organization, and Value of the Firm
USHIJIMA Tatsuo (Aoyama Gakuin
University)
15-E-018
February 2015
The Quality of Distance: Quality sorting, Alchian-Allen effect,
and geography
TAKECHI Kazutaka (Hosei University)
I-3
15-E-017
February 2015
The Price of Distance: Pricing to market, producer
heterogeneity, and geographic barriers
KANO Kazuko (Musashino University)
KANO Takashi (Hitotsubashi University)
TAKECHI Kazutaka (Hosei University)
I-3
15-E-016
February 2015
Enjoying the Fruits of their Labor: Redirecting exports to
Asian consumers
THORBECKE, Willem (RIETI)
II-5
15-E-015
February 2015
Sequential Markets, Market Power and Arbitrage
ITO Koichiro (RIETI)
Mar REGUANT (Stanford GSB / NBER)
Multidisciplinary
15-E-014
February 2015
The Persistence of Moral Suasion and Economic Incentives:
Field experimental evidence from energy demand
ITO Koichiro (RIETI)
IDA Takanori (Kyoto University)
TANAKA Makoto (GRIPS)
Multidisciplinary
15-E-013
February 2015
Fiscal Cost of Demographic Transition in Japan
KITAO Sagiri (RIETI)
Multidisciplinary
15-E-012
January 2015
Trade in Services and Japan's Bilateral FTAs: Empirics on their
ISHIDO Hikari (Chiba University)
impacts
15-E-011
January 2015
Misallocation and Establishment Dynamics
HOSONO Kaoru (Gakushuin University)
TAKIZAWA Miho (Toyo University)
V-5
15-E-010
January 2015
Globalization and Domestic Operations: Applying the JC/JD
method to Japanese manufacturing firms
ANDO Mitsuyo (Keio University)
KIMURA Fukunari (Keio University / ERIA)
V-1
15-E-009
January 2015
The Impact of Foreign Firms on Industrial Productivity: A
Bayesian-model averaging approach
TANAKA Kiyoyasu (Institute of Developing
Economies, JETRO)
V-5
III-1
SP-1
I-5
15-E-008
January 2015
Natural Disasters, Industrial Clusters and Manufacturing
Plant Survival
Matthew A. COLE (University of
Birmingham)
Robert J R ELLIOTT (University of
Birmingham)
OKUBO Toshihiro (Keio University)
Eric STROBL (Ecole Polytechnique)
15-E-007
January 2015
The Optimal Degree of Monetary-Discretion in a New
Keynesian Model with Private Information
WAKI Yuichiro (University of Queensland)
Richard DENNIS (University of Glasgow)
FUJIWARA Ippei (RIETI)
15-E-006
January 2015
Constructing China's Net Capital and Measuring Capital
Services in China, 1980-2010
Harry X. WU (Hitotsubashi University)
V-1
15-E-005
January 2015
Constructing Annual Employment and Compensation
Matrices and Measuring Labor Input in China
Harry X. WU (Hitotsubashi University)
Ximing YUE (Renmin University of China)
George G. ZHANG (University of Wisconsin,
Madison)
V-1
15-E-004
January 2015
Reconstructing China's Supply-Use and Input-Output Tables
in Time Series
Harry X. WU (Hitotsubashi University)
ITO Keiko (Senshu University)
V-1
I-2
V-5
15-E-003
January 2015
Trade Policy Preferences and Cross-Regional Differences:
Evidence from individual-level data of Japan
ITO Banri (Harvard University / Senshu
University)
MUKUNOKI Hiroshi (Gakushuin University)
TOMIURA Eiichi (RIETI)
WAKASUGI Ryuhei (RIETI)
15-E-002
January 2015
The Impact of Globalization on Establishment-Level
Employment Dynamics in Japan
KODAMA Naomi (RIETI)
INUI Tomohiko (RIETI)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
VIII-6
DP No.
Date
Title
Author（s）
Project No.
15-E-001
January 2015
Does the Three Good Things Exercise Really Make People
More Positive and Less Depressed? A study in Japan
SEKIZAWA Yoichi (RIETI)
YOSHITAKE Naomi (Ochanomizu
University)
14-E-069
December 2014
Nuclear Power Plants Shutdown and Alternative Power
Plants Installation: A nine-region spatial equilibrium analysis
of the electric power market in Japan
HOSOE Nobuhiro (National Graduate
Institute for Policy Studies (GRIPS))
14-E-068
November 2014
Industrial Agglomeration and Dispersion in China: Spatial
reformation of the "workshop of the world"
ITO Asei (University of Tokyo)
I-1
I-2
VII-Others
VI-4
14-E-067
November 2014
Reciprocal Versus Unilateral Trade Liberalization: Comparing
individual characteristics of supporters
TOMIURA Eiichi (RIETI)
ITO Banri (Harvard University / Senshu
University)
MUKUNOKI Hiroshi (Gakushuin University)
WAKASUGI Ryuhei (RIETI)
14-E-066
November 2014
Supply Chain Internationalization in East Asia: Inclusiveness
and risks
FUJITA Masahisa (RIETI)
HAMAGUCHI Nobuaki (RIETI)
III-1
ISHIKAWA Jota (RIETI)
MORITA Hodaka (University of New South
Wales)
MUKUNOKI Hiroshi (Gakushuin University)
I-3
14-E-065
November 2014
Trade Liberalization and Aftermarket Services for Imports
14-E-064
October 2014
INUI Tomohiko (RIETI)
Lender Banks' Provision of Overseas Market Information:
Evidence from Japanese small and medium-sized enterprises' ITO Keiko (Senshu University)
MIYAKAWA Daisuke (Nihon University)
export dynamics
VI-3
14-E-063
October 2014
Does the Policy Lending of the Government Financial
Institution Substitute for the Private Lending during the
Period of the Credit Crunch? Evidence from loan level data in
Japan
SEKINO Masahiro (ISI Software Co., Ltd)
WATANABE Wako (Keio University)
VI-3
III-2
14-E-062
October 2014
Endogenous Labor Supply and International Trade
AGO Takanori (Senshu University)
MORITA Tadashi (Kindai University)
TABUCHI Takatoshi (RIETI)
YAMAMOTO Kazuhiro (Osaka University)
14-E-061
October 2014
Decomposition of Gender or Racial Inequality with
Endogenous Intervening Covariates: An extension of the
DiNardo-Fortin-Lemieux method
YAMAGUCHI Kazuo (RIETI)
14-E-060
October 2014
A Comparison of the Wage Structure between the Public and
MORIKAWA Masayuki (RIETI)
Private Sectors in Japan
14-E-059
October 2014
Roles of Wholesalers in Transaction Networks
OKUBO Toshihiro (Keio University)
ONO Yukako (Keio University)
SAITO Yukiko (RIETI)
14-E-058
October 2014
Intangible Investments and their Consequences: New
evidence from unlisted Japanese companies
HARADA Nobuyuki (University of Tsukuba)
14-E-057
September 2014
The Economics of Attribute-Based Regulation: Theory and
evidence from fuel-economy standards
ITO Koichiro (RIETI)
James M. SALLEE (University of Chicago)
September 2014
What Types of Science and Technology Policies Stimulate
Innovation? Evidence from Chinese firm-level data
ITO Asei (University of Tokyo)
Zhuoran LI (University of Tokyo)
Min WANG (University of Electronic
Science and Technology of China)
Natural Disaster and Natural Selection
UCHIDA Hirofumi (Kobe University)
MIYAKAWA Daisuke (Nihon University)
HOSONO Kaoru (Gakushuin University)
ONO Arito (Mizuho Research Institute)
UCHINO Taisuke (RIETI)
UESUGI Iichiro (RIETI)
VI-3
Transaction Partners and Firm Relocation Choice: Evidence
from the Tohoku Earthquake
ONO Arito (Mizuho Research Institute)
MIYAKAWA Daisuke (Nihon University)
HOSONO Kaoru (Gakushuin University)
UCHIDA Hirofumi (Kobe University)
UCHINO Taisuke (RIETI)
UESUGI Iichiro (RIETI)
VI-3
14-E-056
14-E-055
14-E-054
August 2014
August 2014
Multidisciplinary
Multidisciplinary
III-Others
V-2
Multidisciplinary
I-1
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
47
DP No.
Date
Title
Author（s）
14-E-053
August 2014
Localization of Knowledge-creating Establishments
INOUE Hiroyasu (Osaka Sangyo University)
NAKAJIMA Kentaro (Tohoku University)
SAITO Yukiko (RIETI)
14-E-052
August 2014
Competitive Search with Moving Costs
KAWATA Keisuke (Hiroshima University)
NAKAJIMA Kentaro (Tohoku University)
SATO Yasuhiro (Osaka University)
III-2
14-E-051
August 2014
Disemployment Caused by Foreign Direct Investment?
Multinationals and Japanese employment
KIYOTA Kozo (RIETI)
KAMBAYASHI Ryo (Hitotsubashi
University)
V-5
14-E-050
August 2014
How Does the Market Value Organizational Management
Practices of Japanese Firms? Using interview survey data
KAWAKAMI Atsushi (Teikyo University)
ASABA Shigeru (Waseda University)
V-2
14-E-049
August 2014
Measuring the Competitiveness of China's Processed Exports THORBECKE, Willem (RIETI)
III-Others
II-5
14-E-048
August 2014
Is Productivity Growth Correlated with Improvements in
Management Quality? An empirical study using interview
surveys in Korea and Japan
MIYAGAWA Tsutomu (RIETI)
Keun LEE (Seoul National University)
EDAMURA Kazuma (National Institute of
Science and Technology Policy)
YoungGak KIM (Senshu University)
Hosung JUNG (Samsung Economic
Research Institute)
14-E-047
August 2014
Japan's Exorbitant Privilege
Kenneth S. ROGOFF (Harvard University)
TASHIRO Takeshi (RIETI)
Multidisciplinary
14-E-046
August 2014
The Impact of a Demand Shock on the Employment of
Temporary Agency Workers: Evidence from Japan during the
global financial crisis
HOSONO Kaoru (Gakushuin University)
TAKIZAWA Miho (Toyo University)
TSURU Kotaro (RIETI)
VII-1
14-E-045
July 2014
Economic Geography, Endogenous Fertility, and
Agglomeration
MORITA Tadashi (Kindai University)
YAMAMOTO Kazuhiro (Osaka University)
III-2
14-E-044
July 2014
Public Debt Overhang in the Heterogeneous Agent Model
KOBAYASHI Keiichiro (RIETI)
II-4
14-E-043
July 2014
There is No Natural Debt Limit with Consumption Tax
KOBAYASHI Keiichiro (RIETI)
II-4
14-E-042
July 2014
Information Asymmetry in SME Credit Guarantee Schemes:
Evidence from Japan
SAITO Kuniyoshi (Meiji Gakuin University)
TSURUTA Daisuke (Nihon University)
VI-3
14-E-041
July 2014
How the Movement of Natural Persons Agreement Could
Fuel FTAs
KOMORIYA Yoshimasa (Chuo University)
I-Others
14-E-040
July 2014
Governing Board Interlocks and Probability of an IPO
MATSUDA Naoko (RIETI)
MATSUO Yutaka (University of Tokyo)
14-E-039
July 2014
China-U.S. Trade: A global outlier
THORBECKE, Willem (RIETI)
II-5
14-E-038
July 2014
Representative Agent in a Form of Probability Distribution
INOSE Junya (University of Tokyo)
VI-2
14-E-037
July 2014
Does Export Yield Productivity and Markup Premiums?
Evidence from the Japanese manufacturing industry
KATO Atsuyuki (RIETI)
Multidisciplinary
14-E-036
July 2014
Are Large Headquarters Unproductive? Evidence from a
panel of Japanese companies
MORIKAWA Masayuki (RIETI)
Multidisciplinary
June 2014
Supply Chain Disruptions: Evidence from the Great East
Japan Earthquake
Vasco M. CARVALHO (University of
Cambridge, CREi, and Barcelona GES)
NIREI Makoto (Hitotsubashi University)
SAITO Yukiko (RIETI)
14-E-034
June 2014
Geography and Firm Performance in the Japanese Production
Andreas MOXNES (Dartmouth
Network
14-E-033
June 2014
Firm Growth Dynamics: The importance of large jumps
14-E-032
June 2014
What Types of Company Have Female and Foreign Directors? MORIKAWA Masayuki (RIETI)
14-E-031
June 2014
Export Sophistication and Exchange Rate Elasticities: The
Case of Switzerland
14-E-035
48
Project No.
Andrew B. BERNARD (Tuck School of
Business at Dartmouth, CEPR & NBER)
College, CEPR & NBER)
SAITO Yukiko (RIETI)
ARATA Yoshiyuki (University of Tokyo)
THORBECKE, Willem (RIETI)
KATO Atsuyuki (RIETI)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
V-2
SP-5
III-Others
III-Others
VI-2
Multidisciplinary
II-5
DP No.
Date
Title
Author（s）
14-E-030
June 2014
Innovation in the Service Sector and the Role of Patents and
Trade Secrets
MORIKAWA Masayuki (RIETI)
14-E-029
June 2014
Natural Disasters, Land Price, and Location of Firms: Evidence
NAKATA Hiroyuki (RIETI)
from Thailand
14-E-028
June 2014
Disasters and Risk Perception: Evidence from Thailand Floods SAWADA Yasuyuki (RIETI)
14-E-027
May 2014
Impact of Supply Chain Network Structure on FDI: Theory
and evidence
ITOH Ryo (Nagoya City University)
NAKAJIMA Kentaro (Tohoku University)
VI-3
14-E-026
May 2014
Business Cycles, Monetary Policy, and Bank Lending:
Identifying the bank balance sheet channel with firm-bank
match-level loan data
HOSONO Kaoru (Gakushuin University)
MIYAKAWA Daisuke (Nihon University)
VI-3
14-E-025
May 2014
Does Initial Job Status Affect Midlife Outcomes and Mental
Health? Evidence from a survey in Japan
OSHIO Takashi (Hitotsubashi University)
INAGAKI Seiichi (Tokyo Institute of
Technology)
VII-Others
14-E-024
May 2014
The Hidden Curriculum and Social Preferences
ITO Takahiro (Kobe University)
KUBOTA Kohei (Yamagata University)
OHTAKE Fumio (Osaka University)
VII-Others
14-E-023
May 2014
The Effects of Personality Traits and Behavioral Characteristics LEE SunYoun (Meiji Gakuin University)
OHTAKE Fumio (Osaka University)
on Schooling, Earnings, and Career Promotion
14-E-022
May 2014
How Does Agglomeration Promote the Product Innovation
of Chinese Firms?
ZHANG Hongyong (RIETI)
14-E-021
May 2014
Innovation and Public Research Institutes: Cases of AIST,
RIKEN, and JAXA
SUZUKI Jun (National Graduate Institute
for Policy Studies (GRIPS))
TSUKADA Naotoshi (RIETI)
GOTO Akira (RIETI)
14-E-020
April 2014
The Effects of Endogenous Interdependencies on Trade
Network Formation across Space among Major Japanese
Firms
Petr MATOUS (University of Tokyo)
TODO Yasuyuki (RIETI)
14-E-019
April 2014
Policy Regime Change against Chronic Deflation? Policy
option under a long-term liquidity trap
FUJIWARA Ippei (RIETI)
NAKAZONO Yoshiyuki (Yokohama City
University)
UEDA Kozo (Waseda University)
Multidisciplinary
14-E-018
April 2014
Empirical Analysis on Factors Behind Successful
Entrepreneurs
MATSUDA Naoko (RIETI)
MATSUO Yutaka (University of Tokyo)
SP-Others
14-E-017
April 2014
Winning the Race against Technology
KAWAGUCHI Daiji (RIETI)
MORI Yuko (Japan Society for the
Promotion of Science (JSPS))
VII-Others
14-E-016
April 2014
Fertility and Maternal Labor Supply in Japan: Conflicting
policy goals?
Andrew S. GRIFFEN (University of Tokyo)
NAKAMURO Makiko (Keio University)
INUI Tomohiko (RIETI)
14-E-015
April 2014
Fiscal Consolidation in Japan
FUKAO Mitsuhiro (RIETI)
SAWADA Yasuyuki (RIETI)
SEKIGUCHI Kunio (RIETI)
NAKATA Hiroyuki (RIETI)
SEKIGUCHI Kunio (RIETI)
Project No.
Multidisciplinary
SP-Others
SP-Others
VII-Others
I-1
IV-3
I-4
V-4
VIII-Others
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
49
DP No.
Date
Title
Author（s）
Project No.
Discussion Papers written in Japanese
50
15-J-012
March 2015
Product Innovation and Economic Growth Part IV: Demand
changes in an aging society
YOSHIKAWA Hiroshi (RIETI)
ANDO Koichi (Chuo University)
15-J-011
March 2015
Migration Response to High Unemployment Rates: Spatial
econometric analysis using Japanese municipal data
KONDO Keisuke (RIETI)
15-J-010
March 2015
Price, Quality, and Productivity: Reconsidering the
determinants of exporting behavior
MATSUURA Toshiyuki (Keio Economic
Observatory, Keio University)
V-5
15-J-009
March 2015
Exploring the Patterns of Venture Capital Syndication:
Evidence from investment-round data
TAKIZAWA Miho (Toyo University)
MIYAKAWA Daisuke (Nihon University)
VI-3
15-J-008
March 2015
The Effect of Moving to a Territorial Tax System on Profit
Repatriations: Evidence from Japan
HASEGAWA Makoto (National Graduate
Institute for Policy Studies (GRIPS))
KIYOTA Kozo (RIETI)
I-1
15-J-007
March 2015
Development of Statistical Accuracy Improvement
Methodology for Oil Refinery Sector's Energy and Carbon
Balance and Statistical Accuracy on Japanese General Energy
Statistics
KAINOU Kazunari (RIETI)
Multidisciplinary
15-J-006
March 2015
Development of the FY2013 Version of "General Energy
Statistics of Japan"
KAINOU Kazunari (RIETI)
Multidisciplinary
15-J-005
March 2015
The Going-Public Decision and Post-IPO Performance:
Evidence from Japan
HOSONO Kaoru (Gakushuin University)
TAKIZAWA Miho (Toyo University)
15-J-004
February 2015
Clarification of Evolution of the Principle of NonDiscrimination under the WTO Agreement: Recent
developments in case law and their implications for
Members' policy space
KAWASE Tsuyoshi (RIETI)
15-J-003
February 2015
Service Trade and Productivity
MORIKAWA Masayuki (RIETI)
15-J-002
January 2015
Do People Support Compensation for Trade Liberalization?
Evidence from a survey experiment in Japan
KUNO Arata (Kyorin University)
15-J-001
January 2015
Decline in Consumption Expenditures after Retirement Using Population and Social Security Research)
Japanese Micro Data (JSTAR)
YIN Ting (RIETI)
14-J-055
December 2014
Does Board Diversity Influence Firms' Innovative Activity?
Evidence from the firm-level micro data in Japan
INUI Tomohiko (RIETI)
NAKAMURO Makiko (Keio University)
EDAMURA Kazuma (NISTEP)
OZAWA Junko (Cabinet Office)
VII-Others
14-J-054
December 2014
Corporate Disclosure of Non-financial Information and
Ownership by Foreign Shareholders
KODAMA Naomi (RIETI)
TAKAMURA Shizuka (RIETI)
VII-Others
14-J-053
November 2014
Financial Shocks and Japan's Export Collapse during the
Global Financial Crisis: Evidence from bank-firm matched
data
UCHINO Taisuke (RIETI)
II-2
14-J-052
November 2014
Trade Policy Preferences and Cross-Regional Differences:
Evidence from individual-level data of Japan
ITO Banri (Harvard University / Senshu
University)
MUKUNOKI Hiroshi (Gakushuin University)
TOMIURA Eiichi (RIETI)
WAKASUGI Ryuhei (RIETI)
I-2
14-J-051
November 2014
Impact of Exchange Rate Shocks on Japanese Exports:
Quantitative assessment using the structural VAR model
IWAISAKO Tokuo (RIETI)
NAKATA Hayato (Meisei University)
II-2
14-J-050
November 2014
Oil Price, Exchange Rate Shock, and the Japanese Economy
IWAISAKO Tokuo (RIETI)
NAKATA Hayato (Meisei University)
II-2
14-J-049
November 2014
Informing SMEs Better about Available Support Measures:
Consideration of the case of micro businesses
YASUDA Takehiko (Toyo University)
IX-Others
14-J-048
October 2014
Female Labor Market, Intra-household Allocation, and
Marriage
UNAYAMA Takashi (RIETI)
VI-Others
14-J-047
October 2014
Recommendation of Draft Revised Standard Calorific Value
and Carbon Emission Factor for Fossil Fuel Energy Sources in
Japan: 2013 FY revised standard calorific value and carbon
emission factor
KAINOU Kazunari (RIETI)
Multidisciplinary
14-J-046
September 2014
Gender Income Gap among White-Collar Regular Workers: A
clarification of the determinants that explain an 80% of the
gap, and its mechanism
YAMAGUCHI Kazuo (RIETI)
Multidisciplinary
14-J-045
September 2014
Effects of Lending Relationships with Government Banks on
Firm Performance: Evidence from a Japanese government
bank for small businesses
UESUGI Iichiro (RIETI)
UCHIDA Hirofumi (Kobe University)
MIZUSUGI Yuta (SHIFT Incorporated)
KUREISHI Wataru (National Institute of
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
VI-2
Multidisciplinary
VI-3
I-6
Multidisciplinary
I-5
VIII-7
VI-3
DP No.
Date
Title
Author（s）
Project No.
14-J-044
September 2014
Incentive Design for Inventors: Theory and empirical
evidence
NAGAOKA Sadao (RIETI)
OWAN Hideo (RIETI)
ONISHI Koichiro (Osaka University of
Technology)
IV-1
14-J-043
August 2014
Rice Tariffs and Their Impact on the Japanese Market
KEIDA Masayuki (Rissho University)
VI-2
14-J-042
August 2014
Increasing Organizational Performance through Diversity
and Organizational Climate Initiatives: What works, what
doesn't
TANIGUCHI Mami (Waseda University /
Massachusetts Institute of Technology)
14-J-041
August 2014
Demographic Changes in China's Three Major Megalopolises
MENG Jianjun (RIETI)
14-J-040
August 2014
The Effect of Corporate Tax Rate Reduction: A simulation
analysis with a small open economy DSGE model for Japan
HASUMI Ryo (Japan Center for Economic
Research)
VIII-1
14-J-039
August 2014
Open Innovation Effects of Patent Applications: An empirical
study of inkjet technology patents
KINUKAWA Shinya (Komazawa University)
IV-2
14-J-038
August 2014
Scientific Sources of Corporate Inventions in Japan: Evidence
from an inventor survey
NAGAOKA Sadao (RIETI)
YAMAUCHI Isamu (RIETI)
IV-1
14-J-037
July 2014
The Impact of Student Loan Reform on College Enrollment
SANO Shinpei (Chiba University)
KAWAMOTO Takaaki (Hyakugo Bank)
VII-Others
13-J-036
June 2014
Wages, Promotions, and Gender Workplace Segregation
HASHIMOTO Yuki (Kyushu University)
SATO Kaori (University of Tokyo)
VII-2
14-J-035
May 2014
Industrial Agglomeration in China: Case studies of the
Chinese Silicon Valley and the coastal SEZ
KURITA Kyosuke (Kwansei Gakuin
University)
III-Others
14-J-034
May 2014
Enhancing Enterprise Power through Exporting: Verification
of the learning effect by exporting
KURITA Kyosuke (Kwansei Gakuin
University)
III-Others
14-J-033
May 2014
Wage Structure of Japanese Care Worker: College Premium
and Qualification Premium
YIN Ting (RIETI)
KAWATA Keisuke (Hiroshima University)
XU Zhaoyuan (Enterprise Research
Institute, Development Research Center of
the State Council)
14-J-032
May 2014
The Potential for Women's Career Development through
Overseas Employment and Accumulation of Management
Know-How
USHIO Naomi (Meiji University)
SHIMURA Kotaro (Humanage, Inc.)
VII-Others
14-J-031
May 2014
Organizational Informatization and Promoting the Active
Participation of Women in the Workplace
USHIO Naomi (Meiji University)
SHIMURA Kotaro (Humanage, Inc.)
VII-Others
14-J-030
May 2014
An Introduction to Affirmative Action Policies in Korea:
Consequences and implications for Japan
OSAWA Machiko (Japan Women's
University)
KIM Myoung Jung (NLI Research Institute)
VII-Others
14-J-029
May 2014
Does Gender Diversity in Management Contribute to
Profitability, Productivity, and the AA system in China and
Korea?
ISHIZUKA Hiromi (Sanno University)
VII-Others
14-J-028
May 2014
Are Large Headquarters Unproductive? Evidence from a
Panel of Japanese Companies
MORIKAWA Masayuki (RIETI)
14-J-027
May 2014
Empirical Analysis on the Relevance of the Resilience of
National Economies and Industry, Fiscal, and Monetary
Policies
MAEOKA Kenichiro (Ministry of Defense)
KANDA Yusuke (Kyoto University)
NAKANO Takeshi (RIETI)
KUME Koichi (Recruit Works Institute)
FUJII Satoshi (RIETI)
SP-Others
14-J-026
May 2014
Japanese Industrial Policy and the Enhancement of Nuclear
Power Plants Efficiency: Promotion of domestic production
and the "Improvement & Standardization Plan"
ISHII Susumu (Gakushuin University)
IX-Others
14-J-025
May 2014
What Types of Company Have Female and Foreign Directors? MORIKAWA Masayuki (RIETI)
An analysis using survey data
Multidisciplinary
14-J-024
April 2014
Innovation in the Service Sector and the Role of Patents and
Trade Secrets
MORIKAWA Masayuki (RIETI)
Multidisciplinary
14-J-023
April 2014
Relationship between Governing Board Interlocks and Initial
Public Offerings
MATSUDA Naoko (RIETI)
MATSUO Yutaka (University of Tokyo)
SP-5
14-J-022
April 2014
Abenomics, Yen Depreciation, Trade Deficit and Export
Competitiveness
SHIMIZU Junko (Gakushuin University)
SATO Kiyotaka (Yokohama National
University)
II-1
14-J-021
April 2014
Workers' Mental Health and Firm Performance: Evidence
from firms' longitudinal data in Japan
KURODA Sachiko (Waseda University)
YAMAMOTO Isamu (Keio University)
VII-Others
14-J-020
April 2014
Workers' Mental Health, Long Work Hours, and Workplace
Management: Evidence from workers' longitudinal data in
Japan
KURODA Sachiko (Waseda University)
YAMAMOTO Isamu (Keio University)
VII-Others
VII-Others
Multidisciplinary
VIII-4
Multidisciplinary
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
51
PDP
Policy Discussion Papers
Note: Policy Discussion Papers listed below were published
from April 2014 to March 2015.
Policy Discussion Papers have a strong link to timely policy issues facing Japan. They are available only in Japanese unless
otherwise stated.
(http://www.rieti.go.jp/en/publications/act_pdp.html)
52
PDP No.
Date
Title
Author（s）
15-P-004
March 2015
A New Monthly Index of Real Economic Activity, 1960-2013
ITO Arata (RIETI)
15-P-003
March 2015
The Credit Guarantee System and Policy-based Finance for
Small- and Medium-sized Enterprises and a Database of YOSHINO Naoyuki (RIETI)
Small- and Medium-sized Enterprises
SP-Others
15-P-002
March 2015
Implications for the Development of Local Economies and
SMEs in Japan: Perspective from a field survey conducted on IWAMOTO Koichi (RIETI)
Germany, the EU's strongest economy
Multidisciplinary
15-P-001
February 2015
Quantitative Effects of Growth Policies: An overview
Multidisciplinary
14-P-023
(in English)
September 2014
Services Negotiation and Plurilateral Agreements: TISA and NAKATOMI Michitaka (RIETI)
sectoral approach
14-P-022
September 2014
[WTO Case Review Series No. 9] United States—Certain
Country of Origin Labelling Requirements (DS384, 386): The NAIKI Yoshiko (Osaka University)
impacts of country of origin labelling on international trade
I-6
14-P-021
August 2014
Trends and Characteristics of Foreign Direct Investment in TANAKA Kiyoyasu (Institute of Developing
Economies, JETRO)
Japan
V-5
14-P-020
(in English)
August 2014
Age of De Jure Standard and its Determinants: Dataset TAMURA Suguru (RIETI)
linking standard technology areas to economic survey data
IV-5
14-P-019
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Tetsuo Nakata (ed.), History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (12) Small- and Medium-sized Enterprises
IX-Others
14-P-018
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Nobuhiro Nakayama, History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (11) Intellectual Property Policy
IX-Others
14-P-017
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Takeo Kikkawa, History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (10) Natural Resources and Energy Policy
IX-Others
14-P-016
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Minoru Sawai, History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (9) Industrial Technology Policy
IX-Others
14-P-015
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Shigeru Matsushima, History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (8) Consumer Goods Industries
IX-Others
14-P-014
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Shin Hasegawa (ed.), History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (7) Machinery and Information Industries
IX-Others
14-P-013
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Shiro Yamazaki (ed.), History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (6) Basic Industries Policy
IX-Others
14-P-012
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Haruhito Takeda, History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (5) Location, Environment and Safety Policy
IX-Others
14-P-011
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Takemasa Ishihara (ed.), History of Japan's Trade TAKEDA Haruhito (RIETI)
and Industry Policy (4) Commerce and Distribution Policy
IX-Others
14-P-010
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Tetsuji Okazaki (ed.), History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (3) Industry Policy
IX-Others
14-P-009
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Takeshi Abe (ed.), History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (2) International Trade Policy
IX-Others
14-P-008
August 2014
Abstract of History of Japan's Trade and Industry Policy: KAWAMURA Satoshi (RIETI)
Abstract of Konosuke Odaka, History of Japan's Trade and TAKEDA Haruhito (RIETI)
Industry Policy (1) General Overview
IX-Others
14-P-007
June 2014
Foreign Direct Investment in Japan: A review of the empirical KIYOTA Kozo (RIETI)
literature
14-P-006
May 2014
Economic Resilience and Growth: Concept and applications
MORIKAWA Masayuki (RIETI)
FUJII Satoshi (RIETI)
KUME Koichi (Recruit Works Institute)
KOBAYASHI Yohei (RIETI)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Project No.
Multidisciplinary
I-Others
V-5
SP-Others
Public Relations Activities
Dissemination of Research Results
The role of policy research institutes does not end with
the completion of research. They have an obligation to
stimulate policy debates by broadly disseminating the
results of their research. RIETl actively circulates its
research results via its website, issues publications and
publicity materials, and holds symposiums and seminars.
Publications
Website
Publicity Materials
Symposium, Workshops, and Seminars
Public
Relations
Activities
Publications
RIETI's publications cover a diverse array of themes and appear under the imprint of various publishers. The contents
range from studies of a high academic standard that have undergone peer review in their respective disciplines to timely
policy study topics for a wider audience. (http://www.rieti.go.jp/en/publications/act_rb.html)
Publications in the third medium-term period (2011–2015)
Intangibles, Market
Failure and Innovation
Performance
Macro-performance of
Small and Medium
Enterprises
December 2014
Edited by Ahmed BOUNFOUR,
MIYAGAWA Tsutomu
Springer
October 2014
Written by GOTO Yasuo
Nikkei Publishing Inc.
Internationalization of
Japanese Firms:
Evidence from
Firm-level Data
Global Niche Top
Enterprises
March 2014
Written and edited by
WAKASUGI Ryuhei
54
March 2014
Written by HOSOYA Yuji
Hakuto-Shobo Publishing
Company
Minimum Wage Reform
Economic Resilience
July 2013
Written and edited by OHTAKE
Fumio, KAWAGUCHI Daiji,
TSURU Kotaro
Nippon Hyoronsha Co., Ltd.
June 2013
Written and edited by FUJII
Satoshi
Nippon Hyoronsha Co., Ltd.
International Economics
of Outsourcing:
Changing global trade
patterns and a microdata
analysis of Japanese firms
Economic Analysis of
Working Hours: Prospects
for a working style in a
super-aging society
September 2014
Written by TOMIURA Eiichi
Nippon Hyoronsha Co., Ltd.
April 2014
Written by YAMAMOTO Isamu,
KURODA Sachiko
Nikkei Publishing Inc.
Productivity in Service
Industries: Empirical
analyses using
microdata
Environment, Energy,
and Resource
Strategies: Exploring
new growth areas
February 2014
Written by MORIKAWA
Masayuki
Nippon Hyoronsha Co., Ltd.
September 2013
Written and edited by MANAGI
Shunsuke
Nippon Hyoronsha Co., Ltd.
Work-Life Balance in
Japan as Seen from a
Perspective of
International Comparison
High-tech Industry and
Regional Eco-system
June 2012
Written and edited by
TAKEISHI Emiko
Minerva Shobo
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
April 2012
Written by NISHIZAWA Akio,
KUTSUNA Kenji, HIBARA
Nobuhiko, SABURI Masataka,
WAKABAYASHI Naoki and
KANAI Kazuyori
Yuhikaku Publishing Co., Ltd.
Publications in the first and second medium-term periods (2001-2005/2006-2010) are seen on:
http://www.rieti.go.jp/en/publications/act_rb.html
Japan's Economy and
the Two Lost Decades
March 2012
Written by FUKAO Kyoji
Nikkei Publishing Inc.
True Potential of the
Japanese Economy:
When the lying dragon
awakes
August 2011
Written by TODO Yasuyuki
Chuokoron-Shinsha,Inc.
Theories of the Enterprise
Law Reformation:
Institutional designs of
the incentive system
October 2011
Written and edited by
SHISHIDO Zenichi
Nikkei Publishing Inc.
Optimum Disclosure
System in the Era of
International Financial
Reporting Standards
(IFRS)
October 2011
Written and edited by KOGA
Chitoshi
Chikura Publishing Co., Ltd.
Corporate Governance
in Japan: Toward a
redesign and
restoration of
competitiveness
Non-regular
Employment System
Reform in Japan:
Changing the way
people work
June 2011
Written and edited by
MIYAJIMA Hideaki
Toyo Keizai Inc.
June 2011
Written and edited by TSURU
Kotaro, HIGUCHI Yoshio,
MIZUMACHI Yuichiro
Nippon Hyoronsha Co., Ltd.
Internationalization of
Modern Japanese
Firms: Analyses of
panel data
October 2011
Edited by WAKASUGI Ryuhei
Iwanami Shoten, Publishers
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
55
Introduction of History of Japan's Trade and Industry Policy Series in 12 Volumes
56
History of Japan's Trade and
Industry Policy (1): General
Overview
History of Japan's Trade and
Industry Policy (2):
International Trade Policy
History of Japan's Trade and
Industry Policy (3): Industrial
Policy
History of Japan's Trade and
Industry Policy (4): Commerce
and Distribution Policy
January 2013
Written by ODAKA Konosuke
Keizai Sangyo Chosakai
January 2013
Written and edited by ABE Takeshi
Keizai Sangyo Chosakai
April 2012
Written and edited by OKAZAKI Tetsuji
Keizai Sangyo Chosakai
March 2011
Written and edited by ISHIHARA
Takemasa
Keizai Sangyo Chosakai
History of Japan's Trade and
Industry Policy (5): Location,
Environment and Safety Policy
History of Japan's Trade and
Industry Policy (6): Basic
Industry Policy
History of Japan's Trade and
Industry Policy (7): Machinery
and Information Industries
History of Japan's Trade and
Industry Policy (8): Consumer
Goods Industries
June 2011
Written by TAKEDA Haruhito
Keizai Sangyo Chosakai
July 2011
Written and edited by YAMAZAKI Shiro
Keizai Sangyo Chosakai
March 2013
Written and edited by HASEGAWA Shin
Keizai Sangyo Chosakai
June 2012
Written by MATSUSHIMA Shigeru
Keizai Sangyo Chosakai
History of Japan's Trade and
Industry Policy (9): Industrial
Technology Policy
History of Japan's Trade and
Industry Policy (10): Natural
Resources and Energy Policy
History of Japan's Trade and
Industry Policy (11):
Intellectual Property Policy
History of Japan's Trade and
Industry Policy (12): Small- and
Medium-sized Enterprises
March 2011
Written by SAWAI Minoru
Keizai Sangyo Chosakai
July 2011
Written by KIKKAWA Takeo
Keizai Sangyo Chosakai
October 2011
Written and edited by NAKAYAMA
Nobuhiro
Keizai Sangyo Chosakai
March 2013
Written and edited by NAKATA Tetsuo
Keizai Sangyo Chosakai
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Website（http://www.rieti.go.jp/en/)
Public
Relations
Activities
Operated in three languages―Japanese, English and Chinese―the RIETI website is a key
element in our public relations activities. The number of page views for each language
has been growing steadily (see table below). The website makes available to the public a
wide range of materials offering in-depth analyses on individual policy issues such as
Discussion Papers written by fellows and handout materials of policy symposiums.
Special efforts have been made to enrich the content of the RIETI website by providing access
to the work of individual Research Fellows and study groups. These are quite unique and exclusive to RIETI.
Some examples are:
As part of the “East Asian Industrial Productivity” project’ s results, the Japan Industrial Productivity Database
2014 (JIP 2014) is published to serve as a basic resource for the analysis of Japan’ s economic growth and
changes in its industrial structure.
http://www.rieti.go.jp/en/database/JIP2014/index.html
The “International Macroeconomics” program started publishing the novel dataset of the industry-specific
nominal effective exchange rate (I-NEER) and the industry-specific real effective exchange rate (I-REER) in May
2011. From March 2015, the program began releasing the daily and monthly series of I-NEER and I-REER for
nine Asian economies.
http://www.rieti.go.jp/users/eeri/en/index.html
Japan Industrial Productivity Database 2014
(JIP Database 2014)
On Japanese Study of Aging and Retirement (JSTAR), information about a panel survey of middle-aged and
elderly citizens aged 50 or higher conducted jointly by RIETI, Hitotsubashi University, and the University of
Tokyo is posted. Not only does the data include diverse information on the economic, social, and health
aspects of the middle-aged and the elderly, it is also designed to maintain maximum comparability with other
surveys conducted in developed countries such as the Health and Retirement Study (HRS) in the United
States, the Survey of Health, Aging and Retirement (SHARE) in Europe, and the English Longitudinal Study of
Aging (ELSA) in the United Kingdom. Therefore, it is possible by analyzing the data to identify the unique and
universal aspects of middle-aged and elderly citizens in Japan as compared to the world.
Industry-Specific Real Effective Exchange Rate
Website traffic
Approx. 13 years Fiscal 2014
(January 2002
( April 2014
‒March 2015)
‒March 2015)
Japanese
9,210,603
1,220,635
English
2,719,003
398,459
Chinese
766,746
82,753
http://www.rieti.go.jp/en/projects/jstar/index.html
In the non-technical summary that briefly summarizes the policy implications based on an analysis of
discussion papers, we actively make policy proposals (in Japanese).
http://www.rieti.go.jp/jp/topics.html
RIETI is partnering with CEPR, a leading European research network, to make its research findings more
accessible to an international audience, and articles by RIETI fellows now appear on CEPR’ s policy portal,
VoxEU.org. Vice versa, VoxEU.org articles are published on RIETI’ s site to raise awareness of key developments
in policy discourse overseas.
The RIETI Columns section, which features articles written by researchers on policy matters and proposals,
invites comments and feedback from readers for online discussion. The Perspectives from Around the World
section introduces the views of some of the world’ s leading researchers regarding various issues including
economic policy, security, and environmental problems.
http://www.rieti.go.jp/en/papers/index.html
Other popular contents include “China in Transition” by Consulting Fellow KWAN Chi Hung, who shines the
spotlight on five areas̶economic reform in China, Chinese economics, Chinese industries and enterprises,
China in the world, and Sino-Japanese relations̶and “Research Notes on Spatial Economies” by Fellow
KONDO Keisuke, who explains issues in spatial economies in plain and simple language and introduces recent
academic knowledge and policy implications. Another example is “Frontiers of Analysis on Corporate
Governance: Toward the recovery of Japanese companies’ competitiveness,” which summarizes case studies
of corporate governance analysis research. A number of past popular serial articles by our researchers,
including “China in Transition,” have been published in book form.
In enhancing the English and Chinese websites, custom-made content is created and added for issues of
special interest for overseas readers, and electronic newsletters such as RIETI Report (in English) and
Dianzixinxi (in Chinese) are published to circulate Japanese policy information to RIETI’ s broad international
audience.
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
57
Public
Relations
Activities
Publicity Materials
To promote wide dissemination of research results and subsequent contributions that invigorate policy debate, a variety of
publicity materials are available in print and downloadable from our website.
Materials for dissemination of research results
Materials about RIETI
RIETI Highlight
Brochure
RIETI Highlight is a quarterly public relations magazine that keeps
Brochures introduce general information on RIETI such as RIETI’ s
reports on symposiums, workshops and seminars, reviews of new
organization charts.
readers up to date on the activities of RIETI. Each issue includes brief
publications, and columns written by our fellows. A column titled
"Research Digest," which introduces recently published discussion
mission, research themes and process, an access map, and
Languages: Japanese, English, Chinese
papers through interviews with their authors, explores the
motivation underlying their research in an easy-to-understand
manner that has been well-received by readers.
Volume: 50 pages
Languages: Quarterly issue in Japanese /
Special issue in English
Annual Report
The Annual Report is a concise summary of RIETI’ s entire activities
in each fiscal year. It reports on topics such as research projects,
fellows’ activities, and PR activities.
Volume: 80 pages
Languages: Japanese, English, Chinese
Quarterly issue
Special issue
(English)
58
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Public
Relations
Activities
Symposiums
Note: Titles and affiliations of participants are current as of the day of the
events. Lists of Speakers/Panelists/Moderators are in order of appearance.
METI-RIETI Symposium
FY2014 The Third Hitotsubashi University Policy Forum
Impact of Inward FDI and its Promotion for Japan's
Economic Growth
Trends in Trade and Current Account, and the Future of
the Japanese Economy
http://www.rieti.go.jp/en/events/15031001/info.html
http://www.rieti.go.jp/en/events/15030501/info.html
Date
March 10, 2015
Date
March 5, 2015
Venue
Iino Hall and Conference Center
Venue
Hitotsubashi Hall
Hosts
METI; RIETI
Host
Hitotsubashi Univershity
Participants
114
Co-host
RIETI
Program
Participants
105
Opening Remarks
Program
Introduction
Opening Remarks
Presentations
Presentations
Panel Discussion
“Impact of Inward FDI and Challenges and Measures for its Promotion”
Panel Discussion
Speakers/Panelists/Moderator
MUNAKATA Naoko (Director-General, Trade and Economic
Cooperation Bureau, METI)
FUJITA Masahisa (President and CRO, RIETI / Professor, Konan
University / Adjunct Professor, Institute of Economic Research, Kyoto
University)
KIYOTA Kozo (FF, RIETI / Professor, Keio Economic Observatory, Keio
University)
TANAKA Kiyoyasu (Research Fellow, Institute of Developing
Economies, Japan External Trade Organization (IDE-JETRO))
MAEDA Shigeki (Director-General, Invest Japan Department, JETRO)
IIDA Hirobumi (Director, Trade and Investment Facilitation Division,
Trade and Economic Cooperation Bureau, METI)
FUKAO Kyoji (PD and FF, RIETI / Director, Institute of Economic
Research, Hitotsubashi University)
Q&A
Closing Remarks
Speakers/Panelists/Moderator
OGAWA Eiji (FF, RIETI / Professor, Graduate School of Commerce and
Management, Hitotsubashi University)
IWAISAKO Tokuo (FF, RIETI / Professor, Institute of Economic Research,
Hitotsubashi University)
KOMINE Takao (Professor, Hosei Graduate School of Regional Policy
Design)
SATO Kiyotaka (Professor, Faculty of International Social Sciences,
Yokohama National University)
SHIMIZU Junko (Professor, Faculty of Economics, Gakushuin University)
SHIMIZU Mikiharu (Director, Policy Planning and Research Office, Trade
Policy Bureau, METI)
OGASAWARA Takahiro (Executive Officer, AXA Life Insurance Co., Ltd.)
Danny RISBERG (CEO, Philips Electronics Japan)
NAKAJIMA Atsushi (Chairman, RIETI)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
59
RIETI Policy Symposium
RIETI-JSTAR Symposium
Introduction of Selection and Competition to
Childcare Centers and Kindergartens: Reconstruction
of quasi-markets and the third sector
Japan's Future as a Super Aging Society: International
comparison of JSTAR datasets
http://www.rieti.go.jp/en/events/15021901/info.html
Date
December 12, 2014
Date
February 19, 2015
Venue
Toranomon Hills Forum Hall B
Venue
Iino Hall and Conference Center
Host
RIETI
Host
RIETI
Participants
145
Support
Japan Association of Chief Executives of Voluntary
Organizations ( JACEVO); Japan Association of
Charitable Organizations (JACO)
Program
Participants
89
Program
Opening Remarks
Keynote Speech
Panel Discussion
Speakers/Panelists/Moderator
NAKAJIMA Atsushi (Chairman, RIETI)
USHIRO Fusao (FF, RIETI / Professor, Graduate School of Law, Nagoya
University)
ASAKAWA Tomoaki (Director, Day Care Division, Equal Employment,
Children and Families Bureau, Ministry of Health, Labour and Welfare)
http://www.rieti.go.jp/en/events/14121201/info.html
Opening Remarks
Special Greeting
Keynote Speech
“Recent Research Development of JSTAR and its Implication for Social
Security Policy”
Presentation: International Comparison of Social Security Issues
“Research findings from international comparisons with SHARE”
“The Lifetime Risk of Nursing Home Use and Out-of-pocket Spending”
“Research Findings Using HRS-typed Datasets: The case of Asia”
“Policy Effectiveness: The case of the United States”
“Policy Effectiveness and Usage: The case of the United Kingdom”
Panel Discussion: Evidence from Social Security Policy - Implications
for Japan's social security policy
Speakers/Panelists/Moderator
FUJIOKA Kimiko (Member of the Board, JACEVO / Member of the
Board, Child Foundation)
NAKAJIMA Atsushi (Chairman, RIETI)
IKEMOTO Mika (Senior Researcher, Japan Research Institute, Ltd.)
ICHIMURA Hidehiko (FF, RIETI / Professor of Economics, Graduate
School of Public Policy, The University of Tokyo)
YOSHIDA Masayuki (Chief Executive Officer, Research Institute for
System on Childcare and Early Childhood Education)
YOSHITOMI Masaru (Special Adviser, RIETI)
Axel BÖRSCH-SUPAN (Director, Munich Center for the Economics of
Aging (MEA) at the Max-Planck-Institute for Social Law and Social
Policy)
Michael HURD (Director, Rand Center for the Study of Aging)
Albert PARK (Professor, The Hong Kong University of Science and
Technology)
Robin LUMSDAINE (Professor, American University)
James BANKS (Professor, The University of Manchester)
FUKAO Mitsuhiro (PD, RIETI / Professor, Faculty of Business and
Commerce, Keio University / President, Japan Center for Economic
Research)
SAWADA Yasuyuki (FF, RIETI / Professor, Graduate School of
Economics, The University of Tokyo)
60
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
METI-RIETI Symposium
RIETI World KLEMS Symposium
Corporate Governance Reform in Japan: Lessons from
the United Kingdom
Growth Strategy after the World Financial Crisis
http://www.rieti.go.jp/en/events/14101601/info.html
Date
May 20, 2014
Venue
JP Tower Hall & Conference
Host
RIETI
Support
Japan Productivity Center (JPC)
Participants
191
Date
October 16, 2014
Venue
RIETI's seminar room
Hosts
METI; RIETI
Participants
90
Program
http://www.rieti.go.jp/en/events/14052001/info.html
Program
Opening Remarks
Keynote Speech
“Corporate Governance Reform in Japan: Lessons from the UK and
Elsewhere”
Panel Discussion
Speakers/Panelists/Moderator
MIYAJIMA Hideaki (FF, RIETI / Professor, Faculty of Commerce, Waseda
University / Director, Waseda Institute for Advanced Study)
Colin MAYER (Peter Moores Professor of Management Studies, Saïd
Business School, University of Oxford)
ITO Akihiro (CFO, Member of the Board of Kirin Holdings Company,
Limited)
OBA Akiyoshi (President & CEO, Tokio Marine Asset Management Co.,
Ltd. / A member of the Corporate Governance System Study Group at
METI)
SHISHIDO Zenichi (Professor, Graduate School of International Corporate
Strategy, Hitotsubashi University)
Opening Remarks
Keynote Speech 1
“The World KLEMS Initiative”
Keynote Speech 2
“Evolving Spatial Economy of Asia-Pacific and Growth Strategy”
Panel Discussion
Speakers/Panelists/Moderator
NAKAJIMA Atsushi (Chairman, RIETI)
Dale W. JORGENSON (Samuel W. Morris University Professor, Harvard
University)
FUJITA Masahisa (President and CRO, RIETI / Professor, Konan
University / Adjunct Professor, Institute of Economic Research, Kyoto
University)
FUKAO Kyoji (PD and FF, RIETI / Director, Institute of Economic
Research, Hitotsubashi University)
KIYOTAKI Nobuhiro (Professor of Economics, Princeton University)
Lawrence J. LAU (Ralph and Claire Landau Professor of Economics, The
Chinese University of Hong Kong)
Marcel TIMMER (Professor of Economic Growth and Development,
University of Groningen)
Bart van ARK (Executive Vice President and Chief Economist, The
Conference Board)
MIYAGAWA Tsutomu (FF, RIETI / Professor, Faculty of Economics,
Gakushuin University)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
61
METI-RIETI Symposium
A New Paradigm of Manufacturing Evolving from 3D
Printing Technology
http://www.rieti.go.jp/en/events/14042101/info.html
Date
April 21, 2014
Venue
Zennittsu Kasumigaseki Building Conference
Room
Hosts
METI; RIETI
Paticipants
179
Program
Opening Remarks
Keynote Speech
Panel Discussion
Speakers/Panelists/Moderator
MIYAGAWA Tadashi (Director-General, Manufacturing Industries
Bureau, METI)
SHINTAKU Junjiro (Professor, Graduate School of Economics, The
University of Tokyo)
KOIWAI Toyomi (President, Koiwai Co. Ltd.)
IWASA Takuma (President, CEO, Cerevo Inc.)
MOTOHASHI Kazuyuki (FF, RIETI / Professor, Department of Technology
Management for Innovation ( TMI) School of Engineering, The
University of Tokyo)
NAKAJIMA Atsushi (Chairman, RIETI)
62
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Public
Relations
Activities
Workshops and Seminars
Note: Titles and affiliations of participants are current as of the day of the
events. Lists of Speakers/Panelists/Moderators are in order of appearance.
The 11th RIETI Highlight Seminar
The Fourth Hitotsubashi-RIETI Energy Policy Salon
What is the New Direction of the Japanese Economy
and Industry?
World Record-breaking Photovoltaic Research in Japan,
and the Next Steps toward "Hydrogen Society"
http://www.rieti.go.jp/en/events/15013001/info.html
http://www.rieti.go.jp/en/events/15010701/info.html
Date
January 30, 2015
Date
January 7, 2015
Venue
RIETI's seminar room
Hibiya Convention Hall
Host
RIETI
Venue
Participants
78
Hosts
Hitotsubashi University; RIETI
Support
SEI Group CSR Foundation Grant to Hitotsubashi
University's course on environmental laws and policies
Participants
167
Panelists/Moderator
OHASHI Hiroshi (PD and FF, RIETI / Professor, Faculty of Economics, The
University of Tokyo)
KOBAYASHI Keiichiro (FF, RIETI / Professor, Faculty of Economics, Keio
University)
NAKAJIMA Atsushi (Chairman, RIETI)
CEPR-RIETI Workshop
Labour Market Policy for Economic Growth
Speaker/Moderator
NAKANO Yoshiaki (Professor of Electronic Engineering Department and
Research Center for Advanced Science and Technology, The University of
Tokyo)
ANDOH Haruhiko (CF, RIETI / Visiting Professor, School of International and
Public Policy, Hitotsubashi University / Visiting Professor, University of
Electro-Communications)
http://www.rieti.go.jp/en/events/15011601/info.html
Date
January 16, 2015
Venue
National Institute of Economic and Social Research
(NIESR)
Hosts
Centre for Economic Policy Research (CEPR); RIETI;
NIESR
Program
Opening Remarks
Session 1
“The Impact of a Demand Shock on the Employment of Temporary
Agency Workers: Evidence from Japan during the Global Financial
Crisis”
Session 2 “Three Obstacles for Women's Advancement in Japan”
Session 3 “Consumer Confidence and Psychological Variables”
Session 4 Panel Discussion
Concluding Remarks
Speakers/Moderators
Workshop
One-day Trade Workshop
http://www.rieti.go.jp/en/events/14122301/info.html
Date
December 23, 2014
Venue
Room #3302, 3rd floor Mercury Tower, Hitotsubashi
University
Hosts
RIETI; JSPS Grants-in-Aid for Scientific Research (S);
Center for Research on Contemporary Economic
Systems; Hitotsubashi Institute for Advanced Studies
Program
Presentations
“Parallel Imports and Repair Services”
“Aid for Trade and Global Growth”
“Relationship Specificity, Market Thickness and International Trade”
“Trade Liberalisation, Transboundary Pollution and Market Size”
NAKAJIMA Atsushi（Chairman, RIETI）
Speakers / Organizer
Richard E.BALDWIN（Director, CEPR / Professor, Graduate Institute,
Geneva）
MUKUNOKI Hiroshi (Gakushuin University)
TSURU Kotaro（FF, RIETI / Professor, Keio University）
NAITO Takumi (Waseda University)
ARA Tomohiro (Fukushima University)
Marco FRANCESCONI（Research Fellow, CEPR / Professor, University of
Essex）
OWAN Hideo（FF, RIETI / Professor, the University of Tokyo）
OKUBO Toshihiro (Keio University)
ISHIKAWA Jota (FF, RIETI / Hitotsubashi University)
Ghazala AZMAT（Research Affiliate, CEPR / Associate Professor, Queen
Mary University）
SEKIZAWA Yoichi（SF, RIETI）
Francesco FASANI（Lecturer, Queen Mary University）
Jonathan PORTES（Director, NIESR）
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
63
Workshop
RIETI-IWEP-CESSA Joint Workshop
Hitotsubashi-RIETI International Workshop on Real
Estate Market and the Macro Economy
http://www.rieti.go.jp/en/events/14121501/info.html
Date
December 15, 2014
Venue
RIETI's seminar room
Hosts
Hitotsubashi University; RIETI
Program
Industry-specific REER and Pass-Through Effect in
Economic Integration between China and Japan
http://www.rieti.go.jp/en/events/14121302/info.html
Dates
December 13-14, 2014
Hosts
RIETI; Institute of World Economics and Politics (CASS/
IWEP); Center for Economic and Social Studies in Asia,
Yokohama National University (CESSA)
Venue
Chinese Academy of Social Sciences (CASS)
Program
Opening Remarks
Opening Remarks
Session 1
Keynote Speech: “Real Estate Price Indices & Price Dynamics: An
Overview from an investments perspective”
Presentation: “Sticky Rent and Housing Prices”
Paper 1: OGAWA Eiji and WANG Zhiqian: Effects of Exit Strategy of the
Quantitative Easy Monetary Policy on East Asian Currencies
Paper 2: YANG Lu: China's Shift from the Demographic Dividend to
the Reform Dividend
Session 2
Presentation: “Collateral Value and Financial Constraint: Analysis using
corporate data after the Tohoku Earthquake”
Paper 3: YANG Panpan, LI Xiaoqin, XU Qiyuan: Value-Added Exchange
Rates for China: Facts and Implications
Session 3
Presentation: “Residential Property and Household Stock Holdings:
Evidence from Japanese micro data”
Presentation: “Bank Lending Channel of Real Estate Prices”
Closing Remarks
Speakers/Moderators
FUJITA Masahisa（RIETI）
UESUGI Iichiro（RIETI / Hitotsubashi University）
MIYAKAWA Daisuke（Nihon University）
David GELTNER（Massachusetts Institute of Technology）
SHIMIZU Chihiro（Reitaku University / University of British Columbia）
Yongheng DENG（National University of Singapore）
IWAISAKO Tokuo（Hitotsubashi University）
UCHIDA Hirofumi（Kobe University）
ONO Arito（Mizuho Research Institute）
WATANABE Wako（Keio University）
ODA Keiichiro（RIETI）
HIRAKATA Naohisa（Bank of Japan）
Peng XU（Hosei University）
Paper 4: ZHANG Shajuan: Industry-specific Exchange Rate Fluctuations,
Japanese Exports and Financial Constraints: Evidence from Panel VAR
Analysis
Paper 5: SATO Kiyotaka and Thi-Ngoc Anh NGUYEN: Asymmetric
Exchange Rate Pass-Through in Japanese Exports: Application of the
Threshold Vector Autoregressive Model
Paper 6: DAI Mi, WANG Yaqi and XU Jianwei: Exchange Rate and
Export Prices: Quality Matters
Paper 7: HAYAKAWA Kazunobu, Han-Sung KIM and YOSHIMI Taiyo:
FTA in International Finance: Impacts of Exchange Rates on FTA
Utilization
Paper 8: SHIMIZU Junko and SATO Kiyotaka: Abenomics, Yen
Depreciation, Trade Deficit and Export Competitiveness
Paper 9: XIAO Lisheng: RMB Internationalization: A Playfield for
Speculators or a Platform for Real Economy
Closing
Speakers/Moderators
WANG Zhiqian (Hitotsubashi University)
SUN Jie (CASS/IWEP)
DING Jianping (Shanghai University of Finance and Economics)
YANG Lu (CASS)
ZHANG Shajuan (CESSA, Yokohama National University)
SATO Kiyotaka (CESSA, Yokohama National University)
YANG Panpan (CASS)
LI Xiaoqin (China Center for Economics and Business)
SHIMIZU Junko (Gakushuin University)
Thi-Ngoc Anh NGUYEN (CESSA, Yokohama National University)
DAI Mi (Beijing Normal University)
XU Jianwei (Beijing Normal University)
OGAWA Eiji (RIETI / Hitotsubashi University)
YOSHIMI Taiyo (Nanzan University)
XIE Jianguo (Nanjing University Business School)
CHEN Sichong (Zhongnan University of Economics and Law)
ZHANG Jie (Renmin University of China)
XIAO Lisheng (CASS)
64
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
RIETI-JER Workshop
RIETI Seminar on International Economy
Economics of Aging in Japan and Other Societies
Portrait of Factory Asia: Production Network in Asia
and its implication for growth - the smile curve
http://www.rieti.go.jp/en/events/14121301/info.html
Date
December 13, 2014
Hosts
RIETI ; Japanese Economic Review (JER)
Venue
Program
Hall A-3+4, Toranomon Hills Forum
http://www.rieti.go.jp/en/events/14121101/info.html
Date
December 11, 2014
Venue
RIETI's seminar room
Program
Opening Remarks
Opening Remarks
Introduction by Editors
Presentations
“Health Expectancy of the Chinese Elderly: Current trends and future
projection”
“How Informal Caregivers' Health Affects Recipients”
“Does Retirement Change Life Style Habits?”
“Work Capacity of Older Adults in Japan”
“The Well-Being of Elderly Survivors after Natural Disasters: Measuring
the impact of the Great East Japan Earthquake”
“Does Taking Care of Grandchildren Affect Grandparents' Cognition?”
“What Can We Learn from JSTAR about the Relationship between
Socioeconomic Status and Depression?”
“Who are Protected in the Public Assistance Act? Evidence from
JSTAR”
“Does Retirement Make you Happy? A simultaneous equations
approach”
“Japanese Long-term Care Insurance: Equal services for equal needs?”
“Health Consequences of Transitioning to Retirement and Social
Participation: Evidence from JSTAR panel data”
Presentations
“Portrait of Factory Asia: Production Network in Asia and its
implication for growth - the smile curve”
“Reciprocal versus Unilateral Trade Liberalization: Comparing
individual characteristics of supporters”
Closing Remarks
Speakers/Moderator
WAKASUGI Ryuhei (SRA, PD and FF, RIETI / Professor, Gakushuin
University / Professor Emeritus, Kyoto University)
Richard E. BALDWIN (Professor, International Economics, Graduate
Institute of International and Development Studies, Geneva / Director,
Centre for Economic Policy Research (CEPR) )
TOMIURA Eiichi (FF, RIETI / Professor, Yokohama National University)
Discussions and Wrap up by Editors The 10th RIETI Highlight Seminar
NAKAJIMA Atsushi（Chairman, RIETI）
Japan-China Economic Relations: Challenges and
future directions
Speakers/Moderators
ICHIMURA Hidehiko（FF, RIETI / Professor of Economics, Graduate
School of Public Policy, The University of Tokyo）
http://www.rieti.go.jp/en/events/14111001/info.html
SAWADA Yasuyuki（FF, RIETI / Professor, Graduate School of
Economics, The University of Tokyo）
Date
November 10, 2014
SHIMIZUTANI Satoshi（CF, RIETI / Research Fellow, Gender Equality
Bureau, Cabinet Office, Government of Japan）
Venue
RIETI's seminar room
Host
RIETI
Participants
98
ZHENG Jie（Junior Fellow, Network for Studies on Pensions, Aging, and
Retirement（Netspar））
Panelists/Moderator
YUDA Michio（Associate Professor, School of Economics, Chukyo
University）
KAWAI Masahiro (SRA, RIETI /Project Professor, Graduate School of
Public Policy, the University of Tokyo / Councilor, Bank of Japan)
TERADA Kazuyuki（Graduate School of Economics, The University of
Tokyo）
WAKASUGI Ryuhei (SRA, PD and FF, RIETI / Professor, Gakushuin
University / Professor Emeritus, Kyoto University)
USUI Emiko（Associate Professor, Institute of Economic Research,
Hitotsubashi University）
SUGANO Saki（Postdoctoral Associate, Department of Economics,
University of Southern California（visiting）/ Graduate School of
Economics, The University of Tokyo）
MAO Shangyi（Postdoctoral Research Fellow, National School of
Development, Peking University）
SEKIZAWA Yoichi（SF, RIETI）
NAKATA Daigo（SF, RIETI）
LEE Jinkook（Professor, University of Southern California / RAND
Corporation）
ISHII Karine（Ph.D candidate in economics, PSL, Université ParisDauphine）
HASHIMOTO Hideki（RAs, RIETI / Professor, School of Public Health,
The University of Tokyo）
NAKAJIMA Atsushi (Chairman, RIETI)
RIETI Innovation Seminar
Conflict Resolution, Public Goods and Patent Thickets
http://www.rieti.go.jp/en/events/14110501/info.html
Date
November 5, 2014
Venue
RIETI's seminar room
Speaker/Moderator
Stefan WAGNER (Associate Professor, ESMT European School of
Management and Technology)
NAGAOKA Sadao ( PD and FF, RIETI / Director and Professor, Institute of
Innovation Research, Hitotsubashi University)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
65
KIET-TIER-RIETI Workshop
Workshop
Future of Manufacturing Industry
The 2nd Asia KLEMS Database Management Workshop
http://www.rieti.go.jp/en/events/14102301/info.html
http://www.rieti.go.jp/en/events/14101701/info.html
Date
October 23, 2014
Date
October 17, 2014
Venue
Hyatt Regency Jeju
Venue
RIETI's seminar room
Hosts
RIETI; Gakushuin University (Empirical Research on
Intangible Investment in Japan (ERII) [JSPS Grants-inAid for Scientific Research (S), No. 22223004]); Korea
Productivity Center; Institute of Economic Research,
Hitotsubashi University
Program
Opening Remarks
Session 1 RIETI
1st Presentation: “Technical Standard and its Formation in Japan”
2nd Presentation: “Overseas Expansion and Technology Protection:
Issues facing local subsidiaries in ASEAN”
Session 2 TIER
3rd Presentation: “Global Value Chain and the FTA: The trade creation
and diversion effects in China among the East Asia
countries”
4th Presentation: “Inspiration from Regional Economic Integration
（TPP/RCEP）: Transformation and development for
Taiwan manufacturing industries”
Session 3 KIET
5th Presentation: “Re-industrialization of the Korean Economy: Facts,
causes, and implications”
6th Presentation: “The Revolution in Mobility and its Impact on the
Manufacturing Industry”
Closing Remarks
Speakers/Moderators
DoHoon KIM（President, KIET）
David S. HONG（President, TIER）
NAKAJIMA Atsushi（Chairman, RIETI）
TAMURA Suguru（SF, RIETI）
Du-Yong KANG（Senior Fellow, KIET）
YAMAUCHI Isamu（F, RIETI）
Ke-Shaw LIAN（Associate Fellow, TIER）
Ping-Han FAN（Associate Fellow, TIER）
Dongsoo KIM（Fellow, KIET）
UENO Toru（SF, RIETI）
Hang Koo LEE（Senior Fellow, KIET）
Program
Welcoming Remarks
Session 1：On the current issues of KLEMS Database
1st Presentation: “On the Next Revisions of the JIP Database”
2nd Presentation: “The Revision of KIP Database and the Industrial
Sources of Growth in Korea”
3rd Presentation: “US Growth and Productivity using New National
Accounts with Intellectual Property”
Session 2 ：Progress Report on China KLEMS and Republic of China
KLEMS
1st Presentation: “Introduction to CIP/China KLEMS Database”
2nd Presentation: “China KLEMS Database”
3rd Presentation: “On Republic of China KLEMS”
Session 3：Progress Report on India and South East Asia KLEMS
1st Presentation: “India KLEMS Project”
2nd Presentation: “On Malaysia KLEMS: Productivity Performance”
3rd Presentation: “KLEMS Data Status and Availability in Thailand”
Closing Remarks
Speakers/Moderators
MORIKAWA Masayuki (Vice Chairman and Vice President, RIETI)
Chi-yuan LIANG (Institute of Economics, Academia Sinica)
FUKAO Kyoji (FF, RIETI / Hitotsubashi University)
INUI Tomohiko (FF, RIETI / Gakushuin University)
MIYAGAWA Tsutomu (FF, RIETI / Gakushuin University)
Hyumbae CHUN (Sogang University)
Hak Kil PYO (Seoul National University)
Keun Hee RHEE (Korea Productivity Center)
Mun HO (Harvard University)
Harry WU (Hitotsubashi University)
Linlin SUN (Beihang University)
Yih-ming LIN (National Chiayi University)
Deb Kusum DAS (University of Delhi)
Mazlina SHAFI’I (Malaysia Productivity Corporation)
Wan Fazlin Nadia Wan OSMAN (Malaysia Productivity Corporation)
Surapol SRIHUANG (National Economic and Social Development
Board)
66
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
RIETI Special Seminar
RIETI-KEO Workshop
"Creating Capabilities" by Nobel Prize-winning
economist Professor James J. Heckman
Productivity of Japanese Firms: Current status and
challenges
http://www.rieti.go.jp/en/events/14100801/info.html
http://www.rieti.go.jp/en/events/14100301/info.html
Date
October 8, 2014
Date
October 3, 2014
Venue
Shin-Kasumigaseki Bldg Lobby Floor
Venue
RIETI's seminar room
Host
RIETI
Hosts
RIETI; Keio Economic Observatory (KEO)
Participants
347
Program
Program
Introductory session
Opening remarks
Opening Remarks
Introduction of participants
Presentation
“Creating Capabilities”
First session
Presentation 1 “Does Export Enhance Price, Product Quality and
Markup?: Evidence from Japanese plant-productlevel data”
Presentation 2 “Export-Platform Foreign Direct Investment: The
Impact of Japan-Mexico economic partnership
agreement”
Comments
Q&A Session
Speakers/Panelists/Moderators
NAKAJIMA Atsushi (Chairman, RIETI)
James J. HECKMAN (Henry Schultz Distinguished Service Professor of
Economics, The University of Chicago)
TACHIBANAKI Toshiaki (Adviser, RIETI / Professor Emeritus, Kyoto
University / Visiting Professor, Kyoto Women's University)
YAMAGUCHI Kazuo (VF, RIETI / Ralph Lewis Professor of Sociology, The
University of Chicago)
ICHIMURA Hidehiko (FF, RIETI / Professor of Economics, Graduate
School of Public Policy, The University of Tokyo)
AKABAYASHI Hideo (Professor of Economics, Keio University)
Second session
Presentation 3 “The Impact of Foreign Firms on Industrial Productivity:
A Bayesian model averaging approach”
Presentation 4 “Misallocation and Establishment Dynamics”
Third Session
Presentation 5 “Access to Export Markets and Firm Performance: Do
transaction partners matter?”
Presentation 6 “Export Duration: How to foster always exporters?”
Closing comments
Speakers/Moderators
KIYOTA Kozo (FF, RIETI / Keio University)
NAKAJIMA Takanobu (Director, KEO)
YAMASHITA Naoki (RMIT University)
MATSUURA Toshiyuki (Keio University)
KONDO Keisuke (F, RIETI)
OYAMA Atsushi (Hokkaido University)
TANAKA Kiyoyasu (Institute of Developing Economies, JETRO)
HOSONO Kaoru (Gakushuin University)
TAKIZAWA Miho (Toyo University)
HONDA Keiichiro (Prefectural University of Kumamoto)
MIYAKAWA Daisuke (Nihon University)
INUI Tomohiko (FF, RIETI / Gakushuin University)
ITO Keiko (Senshu University)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
67
RIETI Seminar
The Third Hitotsubashi-RIETI Energy Policy Salon
Trends in Disability in a Super-Aging Society:
Adapting the Future Elderly Model to Japan
Unveiling the Next Generation Fuel Cell Vehicle:
The ultimate eco-car's status quo and perspective
http://www.rieti.go.jp/en/events/14090502/info.html
http://www.rieti.go.jp/en/events/14072201/info.html
Date
September 5, 2014
Date
July 22, 2014
Venue
RIETI's seminar room (Daidoseimei Kasumigaseki
Building 6th floor)
Venue
Hibiya Convention Hall
Hosts
Hitotsubashi University; RIETI
Support
SEI Group CSR Foundation Grant to Hitotsubashi
University's course on environmental laws and policies
Participants
179
Speaker/Moderator
Jay BHATTACHARYA (Professor, Center for Health Policy/ Center for
Primary Care and Outcomes Research, Stanford University)
HASHIMOTO Hideki (Professor, University of Tokyo)
The 9th RIETI Highlight Seminar
New Growth Strategy: Rural economy vitalization and
aggressive agriculture
http://www.rieti.go.jp/en/events/14090501/info.html
Date
September 5, 2014
Venue
RIETI's seminar room
Host
RIETI
Participants
109
Speaker/Moderator
KOJIMA Koichi (General Manager, Fuel Cell System Development Div.,
R&D Group, Toyota Motor Corporation)
ANDOH Haruhiko (CF, RIETI / Visiting Professor, University of ElectroCommunications)
The 8th RIETI Highlight Seminar
Prices and Economic Performance in Japan after the
Consumption Tax Hike
http://www.rieti.go.jp/en/events/14070201/info.html
Panelists/Moderator
Date
July 2, 2014
HAMAGUCHI Nobuaki (PD and FF, RIETI / Professor, Research Institute
for Economics and Business Administration (RIEB), Kobe University)
Venue
RIETI's seminar room
Host
RIETI
YAMASHITA Kazuhito (SF, RIETI / Research Director, Canon Institute for
Global Studies)
Participants
87
NAKAJIMA Atsushi (Chairman, RIETI)
RIETI Seminar on the U.S. Production Network
Vertical Integration and Input Flows
http://www.rieti.go.jp/en/events/14081801/info.html
Date
August 18, 2014
Venue
RIETI's seminar room
Panelists/Moderator
FUKAO Mitsuhiro (PD and FF, RIETI / Professor, Faculty of Business and
Commerce, Keio University / President, Japan Center for Economic
Research)
WATANABE Tsutomu (Professor, Graduate School of Economics,
Faculty of Economics, The University of Tokyo)
NAKAJIMA Atsushi (Chairman, RIETI)
Speaker/Moderator
Ali HORTAÇSU (Professor, University of Chicago)
FUJII Daisuke (VS, RIETI)
68
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Cecilia JONA-LASINIO（Italian Statistical Institute）
Third World KLEMS Conference
MIYAGAWA Tsutomu（RIETI / Gakushuin University）
http://www.rieti.go.jp/jp/events/14051901/info.html
Mun HO（Harvard University）
Dates
May 19-20, 2014
NOMURA Koji（RIETI / Keio University）
Venue
JP Tower Hall & Conference
Erich STRASSNER（BEA）
Host
RIETI
Lawrence J. LAU（The Chinese University of Hong Kong）
Co-hosts
Hitotsubashi University; Gakushuin University's Empirical
Research on Intangible Investment in Japan (ERII)
David KUPFER（Federal University of Rio de Janeiro）
Brian MOYER（U.S. Bureau of Economic Analysis（BEA））
Program
Zaffrullah HUSSEIN（Malaysia Productivity Corporation）
Ilya VOSKOBOYNIKOV（National Research University Higher School of
Economics / GGDC）
Growth and Stagnation
Session One: Europe
Francisco GUILLEN（National Institute of Statistics and Geography
（INEGI））
Session Two: Asia
KIYOTAKI Nobuhiro（Princeton University）
Session Three: Measurement Issues
Gaaitzen de VRIES（University of Groningen）
Session Four: Human Capital
Zhi WANG（United States International Trade Commission）
Session Five: Intangibles
NAKAZAWA Eiichi（Meikai University）
Session Six: United States and Japan
MORIKAWA Masayuki（RIETI）
Session Seven: Country Studies
Khuong VU（National University of Singapore）
Session Eight: Global Value Chains
Robert INKLAAR（University of Groningen）
Plenary Session: The World Economy
Marcel TIMMER（University of Groningen）
Speakers/Moderators
FUJITA Masahisa（RIETI / Konan University / Kyoto University）
Bart van ARK（The Conference Board）
FUKAO Kyoji（RIETI / Hitotsubashi University）
The Second Hitotsubashi-RIETI Energy Policy Salon
Matilde MAS（University of Valencia & Ivie）
Genesis of the World-leading "ENE-FARM" Residential
Fuel Cell System: Its modular strategy and the "esprit"
of Japan's samurai engineers honored with the receipt
of the Prime Minister's Award
Colin WEBB（OECD）
Axel WERWATZ（Technical University Berlin）
Carlo MILANA（Birkbeck College, University of London）
HAYASHI Fumio（Hitotsubashi University）
http://www.rieti.go.jp/en/events/14051501/info.html
TOKUI Joji（RIETI / Shinshu University）
Deb Kusum DAS（Ramjas College, University of Delhi）
Yih-Ming LIN（National Chiayi University）
Harry X. WU（Hitotsubashi University）
Chi-Yuan LIANG（Chung-Hua Institution for Economic Research）
Bishwanath GOLDAR（Institute of Economic Growth）
Date
May 15, 2014
Venue
Hibiya Convention Hall
Hosts
Hitotsubashi University; RIETI
Support
SEI Group CSR Foundation Grant to Hitotsubashi
University's course on environmental laws and policies
Participants 127
Taehyoung CHO（Bank of Korea）
Speaker/Moderator
Hak K. PYO（Seoul National University）
NAGATA Yuji (Director, Chief Technology Executive, Toshiba Fuel Cell
Power Systems Corp.)
Barbara FRAUMENI（University of Southern Maine）
Haizheng LI（Georgia Institute of Technology）
Haripriya GUNDIMEDA（Indian Institute of Technology Bombay）
Gang LIU（Statistics Norway）
ANDOH Haruhiko (CF, RIETI / Professor, Graduate School of Law /
Director, Resources & Energy Policy Project, Hitotsubashi University /
Visiting Professor, University of Electro-Communications)
KURODA Masahiro（Japan Science and Technology Agency / Keio
University）
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
69
ADBI & RIETI Special Seminar
RIETI International Seminar
Asia and Japan: Trading into the future
Matching and Sorting in the Global Economy
http://www.rieti.go.jp/en/events/14041801/info.html
http://www.rieti.go.jp/en/events/14040401/info.html
Date
April 18, 2014
Date
April 4, 2014
Venue
Asian Development Bank Institute (ADBI), Tokyo
Venue
RIETI's seminar room
Hosts
ADBI; RIETI
Host
RIETI
Participants 100
Program
Program
Introduction
Opening remarks / Introduction of the speaker
Opening Remarks
Presentations by panelists
“TPP and CJK”
“RCEP and Development”
“Global Value Chains and the International Trade System”
“Japan's Trade Policy in the 21st Century”
“EU's Trade Policy”
“A Stakeholder's View: The importance of free trade agreements and
of the WTO for the Japanese industry”
Distinguished Lecture
“Matching and Sorting in the Global Economy”
Q&A and Discussion
Speakers/Moderator
WAKASUGI Ryuhei（SRA, PD and FF, RIETI / Professor, Gakushuin
University / Adjunct Professor, Yokohama National University /
Professor Emeritus, Kyoto University）
Panel Discussion and Q&A
FUJITA Masahisa（President, CRO, RIETI / Professor, Konan University）
Closing Remarks
Elhanan HELPMAN（Galen L. Stone Professor of International Trade,
Harvard University）
Panelists/Moderator
YOSHINO Naoyuki (Dean of ADBI)
URATA Shujiro (FF, RIETI / Professor of Economics, Graduate School of
Asia-Pacific Studies, Waseda University)
Ganeshan WIGNARAJA (Research Director, ADBI, Tokyo)
NAKATOMI Michitaka (CF, RIETI / Special advisor to JETRO)
KANEKO Tomohiro (Principal Director, Multilateral Trade System
Department, METI)
Timo HAMMAREN (European Commission, Tokyo Delegation, Head of
the Trade Section)
KINBARA Kazuyuki (Director, International Economic Affairs Bureau,
Japan Business Federation (Nippon Keidanren))
70
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Public
Relations
Activities
BBL Seminars
*BBL seminars listed below were held from April 2014 to March 2015.
*Titles and affiliations of speakers / commentators are current as of the day
of the seminars.
BBL seminars are held during lunch hours. We invite Japanese and foreign guest lecturers and provide a venue for candid
exchanges of opinions on a variety of policy issues, transcending industry-government-academia boundaries. During fiscal 2014,
64 BBL seminars were held, bringing the total number to 944 as of March 31, 2015.
（http://www.rieti.go.jp/en/events/bbl/index.html）
Speaker:
Harald HOHMANN (Attorney (Partner), Hohmann
Rechtsanwaelte)
WATAI Rikako (Professor, Keio University Law School)
March 30, 2015
Export of Defense Items, the German Experience
(compared with Japan): Controversial issues
March 27, 2015
On the Promotion of Women's Economic Activities: What are
the major social obstacles to the elimination of gender wage
gap?
March 26, 2015
What Sets Apart Invigorated Regions? ― Prescription for
reviving local communities―
March 25, 2015
Asian Economic Outlook and Roles of ADB
March 20, 2015
New Challenges for Security Service Industry in Response to the Speaker:
Changes in Japan and Abroad
AOYAMA Yukiyasu (President, SOHGO SECURITY SERVICES CO.,
LTD.)
Speaker:
MENG Jianjun (VF, RIETI / Senior Fellow, Center for Industry
Development and Environment Governance (CIDEG), Tsinghua
University)
KWAN Chi Hung (CF, RIETI / Senior Fellow, Nomura Institute of
Capital Markets Research)
March 19, 2015
Chinese Economy under the New Normal
March 12, 2015
[Venture Series]
Is Genuine Collaboration between Big Companies and Startups
Possible? — Challenges of KDDI Mugen Labo —
February 27, 2015
The Rise of Global Jihad: Ideology and movement
February 20, 2015
Prospects for the Japanese and the Global Economy —
Reviewing challenges for Abenomics —
February 18, 2015
Europe's Ongoing Crisis: It's not mostly fiscal
February 6, 2015
International Economics of Outsourcing
January 28, 2015
The Imperial Hotel's Corporate Philosophy and Hospitality
January 27, 2015
The Strategic and Economic Implications of the TPP
Commentator:
Speaker:
YAMAGUCHI Kazuo (VF, RIETI / Ralph Lewis Professor of
Sociology, The University of Chicago)
Speaker:
KIMURA Toshiaki (Professor, Department of Business, Economics
and Regional Development, Faculty of Bio-Industry, Tokyo
University of Agriculture)
Speaker:
NAKAO Takehiko (President and Chairperson, Board of Directors,
Asian Development Bank (ADB))
Commentator:
Speaker:
EBATA Tomohiro (Director, Global Business Development
Department, Advanced Business Development Division, KDDI
CORPORATION)
Speaker:
IKEUCHI Satoshi (Associate Professor, Research Center for
Advanced Science and Technology, the University of Tokyo)
Speaker:
YUMOTO Kenji (Vice Chairman of the Institute, The Japan
Research Institute, Limited)
Speaker:
Nicolas VERON (Visiting Fellow, Peterson Institute for
International Economics / Senior Fellow, Bruegel )
Speaker:
TOMIURA Eiichi (FF, RIETI / Professor, Department of Economics,
Yokohama National University)
Speaker：
SADAYASU Hideya (President and General Manager, Imperial
Hotel, Ltd.)
Speaker:
Claude BARFIELD (Resident Scholar, The American Enterprise
Institute)
Speaker:
January 23, 2015
Presence of SMEs in the Japanese Economy and SMEs Policies
Commentator:
GOTO Yasuo (SF, RIETI / Chief Economist, Mitsubishi Research
Institute, Inc.)
YONEMURA Takeshi (Director for Policy Coordination,
Commissioner's Secretariat, The Small and Medium Enterprise
Agency, METI)
January 8, 2015
IFRS — Better understanding for the basics of IFRS
Speaker:
YAMADA Tatsumi (Partner, KPMG AZSA LLC)
Speaker:
HONDA Keiko (Executive Vice President and CEO of the
Multilateral Investment Guarantee Agency (MIGA), World Bank
Group)
OKADA Kohei (Director, Middle East and Africa Division, Trade
Policy Bureau, METI )
January 7, 2015
Japanese Investment in Africa — MIGA's view
December 19, 2014
Overview of Measuring Productivity: Accurate evaluation of
technology
December 18, 2014
The Abenomics Referendum and Its Aftermath
December 10, 2014
Inter-firm Network and Spillover Effect: Empirical analysis using
Speaker:
big data
November 26, 2014
Launch of OECD Economic Outlook 2014: Macroeconomic
analysis and policy recommendations for Japan
November 25, 2014
OECD's Green Growth Strategy: Southeast Asian case and
beyond
November 14, 2014
Global Economy and Financial Markets: Outlook and Policy
Challenges
Commentator:
Speaker:
Commentator:
KONISHI Yoko (SF, RIETI)
NISHIYAMA Yoshihiko (Professor, Institute of Economic Research,
Kyoto University)
Speaker:
Jacob SCHLESINGER (Senior Asia Economics Correspondent and
Central Banks Editor, Asia, The Wall Street Journal)
SAITO Yukiko (SF, RIETI)
Speaker:
Randall S. JONES (Head of Japan/Korea Desk, Economics
Department, OECD)
Speaker:
TAMAKI Rintaro (Deputy Secretary-General, OECD)
Speaker:
KINOSHITA Yuko (CF, RIETI / Deputy Head of Office, IMF's
Regional Office for Asia and the Pacific (OAP))
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
71
November 12, 2014
Urban Planning in Japan's Future: Rapidly growing issue of
empty homes
November 7, 2014
The Mission of Local Universities in Innovating Local Areas
October 31, 2014
Reconsideration of Public Pension Reform: Problems to be
solved
October 24, 2014
The Potential Impact of the Chinese Anti-monopoly Law and
Practice on the Japanese Business and Government
Communities
October 15, 2014
The Acquisition and Commercialization of Invention in
American Manufacturing: Incidence and impact
October 9, 2014
Breaking the Barriers: How multi-stakeholder dialogues can
promote Japan's global leadership beyond 2015
October 7, 2014
Key Elements of an Energy Sector Transformation: Launch of
IEA's new annual publication Energy, Climate Change and
Environment: 2014 Insights
October 2, 2014
[Venture Series]
Foundation of the University of Tokyo Edge Capital (UTEC) and
Its Efforts over the Past Decade
September 24, 2014
Faith and Skepticism: Conflicting global views of trade and
foreign investment
September 18, 2014
MAKINO Tomohiro (President and CEO, ORAGA HSC Inc.)
Speaker:
UTAGAWA Takashi (Managing Director and Vice President, Fukui
Prefectural University)
Speaker:
NAKATA Daigo (SF, RIETI)
Speaker:
Commentator:
Adrian EMCH (Partner, Hogan Lovells, Beijing)
KAWASHIMA Fujio (Professor, Graduate School of International
Development, Nagoya University)
Speaker:
John P. WALSH (Professor, School of Public Policy, Georgia
Institute of Technology)
GOTO Akira (FF, RIETI / Professor, National Graduate Institute for
Policy Studies)
Commentator:
Speaker:
Commentator:
YAMADA Takumo (Advocacy Manager, Oxfam Japan)
USHIJIMA Keiichi (Principal Fellow, Ernst & Young Institute Co.,
Ltd.)
Speakers:
Didier HOUSSIN (Director, Sustainable Energy Policy and
Technology, International Energy Agency (IEA))
HATTORI Takashi (Head of Unit, Environment and Climate
Change Energy Efficiency and Environment Division, Directorate
of Sustainable Energy Policy and Technology, IEA)
Speaker:
GOJI Tomotaka (Managing Partner, Representative Director and
President, The University of Tokyo Edge Capital Co., Ltd.(UTEC))
Speaker:
Bruce STOKES (Director, Global Economic Attitudes, Pew
Research Center)
Speaker:
UCHIYAMA Takashi (Director for IP Exploitation Policy Planning
Coordination, Policy Planning and Research Division, Policy
Planning and Coordination Department, Japan Patent Office,
METI)
GOTO Akira (FF, RIETI / Professor, National Graduate Institute for
Policy Studies)
Commentator:
September 12, 2014
Developing an Alliance Agenda for an Era of Geostrategic
Change
Speaker:
Sheila A. SMITH (Senior Fellow for Japan Studies, Council on
Foreign Relations (CFR))
September 4, 2014
A World with eBooks
Speaker:
FUJII Taiyo (Writer)
August 29, 2014
8K Televisions Opening the Door to the New Era
Speaker:
KURODA Toru (Head of Science & Technology Research
Laboratories / Deputy Director-General of Engineering, JAPAN
BROADCASTING CORPORATION)
August 28, 2014
June 2014 Survey of Capital Investment Plans
Speaker:
KIRIYAMA Takeshi (General Manager, Economic & Industrial
Research Department, Development Bank of Japan Inc.)
August 27, 2014
Product Development from the Perspectives of Consumers
Speaker:
OHYAMA Kentaro (Chairman, IRIS GROUP)
August 6, 2014
[Venture Series]
Examples of Crowdsourcing in Japan and Future Challenges
Speakers:
AKIYOSHI Yosuke (President & CEO, LANCERS, INC.)
YUDA Kenichiro (Manager, Pasona Tech, inc.)
Annual Report of the Japanese Economy and Public Finance
2014: Enhancing Growth Potential of the Japanese Economy
Speaker:
July 31, 2014
MASUJIMA Minoru (Deputy Director-General for Economic
Research, Cabinet Office)
KATAOKA Ryuichi (CF, RIETI / Counselor for the Budget Bureau,
Minister's Secretariat, Ministry of Finance)
July 25, 2014
The Search For Reasonable in Patent Licensing
July 24, 2014
The Promotion of the Tokyo 2020 Olympic and Paralympic
Games
July 18, 2014
72
Recent Trends in Intellectual Property: From the Japan Patent
Office Annual Report 2014 and the Report on Technological
Trends in Patent Application
Speaker:
White Paper on Manufacturing Industries (Monodzukuri) 2014:
Current status and future direction
Commentator:
Speaker:
Richard J. GILBERT (Emeritus Professor of Economics and
Professor of the Graduate School, University of California,
Berkeley)
Speaker:
HIRATA Takeo (Special Advisor to the Cabinet / Director-General,
Office for the Promotion of the Tokyo 2020 Olympic and
Paralympic Games / Professor, Faculty of Sports Sciences, Waseda
University)
Speaker:
HIRATSUKA Nobuyuki (Director, Tariff and Market Access
Negotiations, Multilateral Trade System Department, Trade Policy
Bureau, METI)
MIYAJIMA Hideaki (FF, RIETI / Professor, Faculty of Commerce,
Waseda University / Director, Waseda Institute for Advanced
Study)
Commentator:
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
July 11, 2014
The Japanese Economy after the Consumption Tax Hike: Issues
concerning assets
July 10, 2014
White Paper on International Economy and Trade 2014
July 2, 2014
Shifting Gear: Policy challenges for the next 50 years
July 1, 2014
Future for the Payment and Settlement System in Japan
June 27, 2014
Decoding "A New Style of Great Power Relations" in U.S.-China
Ties: Implications for economics and security in East Asia
June 25, 2014
Speaker:
HAJI Koichi (Executive Research Fellow, NLI Research Institute /
Visiting Professor, Graduate School of Decision Science and
Technology, Tokyo Institute of Technology)
Speaker:
SHIMIZU Mikiharu (Director, Policy Planning and Research Office,
Trade Policy Bureau, METI)
ITO Koji (SF, RIETI)
Commentator:
Speaker:
TAMAKI Rintaro (Deputy Secretary-General and Chief Economist,
OECD)
Speaker:
KINOSHITA Nobuyuki (Executive Director, Bank of Japan)
Speaker:
Christopher K. JOHNSON (Senior Adviser and Freeman Chair in
China Studies, Center for Strategic and International Studies
(CSIS))
Factors and Outcomes of Gender Equality in Family and
Workplace
Speaker:
HONDA Yuki (Professor, Graduate School of Education, the
University of Tokyo)
June 20, 2014
Recent Energy Situation in Japan and Outline of the New
Strategic Energy Plan
Speaker:
GOTO Osamu (Director-General for Energy and Environment
Policy, Agency for Natural Resources and Energy, METI)
June 19, 2014
[Venture Series]
Creation of Innovation through University Ventures
Speaker:
SEKIYAMA Kazuhide (Director and Representative Executive
Officer, Spiber Inc.)
June 17, 2014
"Leading without Followers": The puzzle of Japan's "Galapagos"
ICT industry, a political economy explanation
Speaker:
KUSHIDA Kenji E. (Takahashi Research Associate in Japanese
Studies, Shorenstein Asia-Pacific Research Center, Stanford
University)
June 12, 2014
New Trends of Internal Control at the Core of Governance
Reform
Speaker:
HATTA Shinji (Auditor, RIETI / Professor, Graduate School of
Professional Accountancy, Aoyama Gakuin University)
June 11, 2014
Risk Management in the U.S. — My personal experiences
coping with the sanctions by U.S. Congress
Speaker:
KADOYA Tetsuo (Former Toshiba General Manager of
Washington Office)
June 4, 2014
Global Economy and Financial Markets: Recovery strengthens,
remains uneven
Speaker:
KINOSHITA Yuko (CF, RIETI / Deputy Head of Office, IMF's
Regional Office for Asia and the Pacific (OAP))
June 2, 2014
Statistics for Evidence Based Policy
Speaker:
TAKEUCHI Kei (Professor Emeritus, The University of Tokyo /
Professor Emeritus, Meiji Gakuin University / Member of the
Japan Academy)
May 30, 2014
[Venture Series]
Ventures that Change the World
Speakers:
MATSUMOTO Yasukane (CEO, Raksul, Inc)
SAMATA Anri (General Partner, The Anri fund)
Speaker:
HOSOYA Yuji (CF, RIETI / Senior Analyst for Regional Policy,
Regional Economic and Industrial Policy Group, Economic and
Industrial Policy Bureau, METI)
INOUE Tatsuhiko (Professor, School of Commerce, Waseda
University)
May 29, 2014
Invitation to a Study on Global Niche-top Enterprises in Japan
May 21, 2014
Financial Crisis and Economic Policy
May 14, 2014
2014 White Paper on Small and Medium Enterprises in Japan
April 17, 2014
Myanmar's Reforms in the Post-Military Era: A mid-term review
of Thein Sein Government
April 11, 2014
Reforming Japan's Innovation System for Regaining Industrial
Competitiveness
April 10, 2014
Globalization, Innovation and Anti-monopoly Act
April 8, 2014
[Venture Series]
Terra Motors' Challenges in the World Market
April 4, 2014
Globalization and Inequality
Commentator:
Speaker:
KIYOTAKI Nobuhiro (Professor of Economics, Princeton
University)
Speaker:
SODA Takeshi (Director, Research Office, Business Environment
Department, Small and Medium Enterprise Agency, METI)
UESUGI Iichiro (FF, RIETI / Associate Professor, Institute of
Economic Research, Hitotsubashi University)
Commentator:
Speaker:
KUDO Toshihiro (Director-General, Inter-disciplinary Studies
Center, Institute of Developing Economies, Japan External Trade
Organization (IDE-JETRO))
Speaker:
MOTOHASHI Kazuyuki (FF, RIETI / Professor, Department of
Technology Management for Innovation (TMI) School of
Engineering, the University of Tokyo)
Speaker:
Commentator:
GOTO Akira (FF, RIETI / Professor, National Graduate Institute for
Policy Studies)
MORIKAWA Masayuki (Vice Chairman & Vice President, RIETI)
Speaker:
TOKUSHIGE Toru (Founder & CEO, Terra Motors Corporation)
Speaker:
Elhanan HELPMAN (Galen L. Stone Professor of International
Trade, Harvard University)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
73
List of Fellows
Name
(April 2014-March 2015, alphabetical order)
Research Projects at RIETI
< >=project leader　(　)=project participants
Research areas
President / CRO
FUJITA Masahisa
Urban Economics, Regional Economics, Spatial Economics
Senior Research Advisor（SRA)
－
Macroeconomics, Japanese Economy
<Issues Faced by Japan's Economy and Economic Policy Part III:
Heterogeneity among economic agents> (Price Network and
Dynamics of Small and Medium Enterprises)
WAKASUGI Ryuhei
concurrent Faculty Fellow
International Trade, Economics of Technological Innovation, Law and
Economics
<Global Markets and Japan's Industrial Growth> (Empirical Analysis
of Trade Policy Preferences at the Individual Level in Japan)
NEZU Rizaburo
Science and Technology, Information Technology, Industrial
Policy, Trade Policy
－
KAWAI Masahiro
International Economics, International Monetary Theory, Finance
－
YOSHIKAWA Hiroshi
concurrent Faculty Fellow
Program Director（PD)
WAKASUGI Ryuhei
International Trade, Economics of Technological Innovation, Law and
Economics
<Global Markets and Japan's Industrial Growth> (Empirical Analysis
of Trade Policy Preferences at the Individual Level in Japan)
ITO Takatoshi
Microstructure of the Foreign Exchange Market, Economic Analysis
of Foreign Exchange Interventions, Inflation Targeting in Advanced
and Emerging Market Economies, Policy Questions on the Japanese
Economy (How to get Japan out of Deflation), Financial Crises
<Research on Exchange Rate Pass-Through> (Research on Currency
Baskets)
HAMAGUCHI Nobuaki
Spatial Economics, Regional Studies (Brazil)
<Restoration from Earthquake Damage and Growth Strategies of the
Japanese Regional Economy>
NAGAOKA Sadao
Policy and Institutions for Innovation
<Research on Innovation Process and its Institutional Infrastructure>
(Innovation, Incentives, and Organizations) (Standards and
Intellectual Property) (Globalization, Innovation, and Competition
Policy)
FUKAO Kyoji
International Economics, Macroeconomics, International Trade and
Direct Investment in Asia, Innovation and Total Factor Productivity:
Empirical Analysis Based on Industry and Firm-Level Data,
International Comparison of Total Factor Productivity, Purchasing
Power Parity in the 1930s, Gross Prefectural Product in Japan: 18742004
<East Asian Industrial Productivity> (Study on Intangible Assets in
Japan) (Regional-Level Japan Industrial Productivity Database:
Database Refinement and Its Analysis) (Evaluating International
Competitiveness)
OHASHI Hiroshi
Industrial Organization, Trade Policy
<Basic Research for a New Industrial Policy> <Globalization,
Innovation, and Competition Policy>
TSURU Kotaro
concurrent Faculty Fellow
Comparative Institutional Analysis, Organizational Economics, Labor
Market Institutions
<Reform of Labor Market Institutions>
FUKAO Mitsuhiro
International Finance, Monetary Theory, Corporate Governance
<A Cost-Benefit Analysis of Fiscal Consolidation Measures>
TAKEDA Haruhito
Economic History of Japan, History of Industry and Business
<Historical Study on Japan's Trade and Industrial Policy: From an
international perspective> (History of the Policies of the Nuclear and
Industrial Safety Agency)
Economic Policy, Industrial Structure, Productivity, Labor Market
(RIETI Data Management Project) (Analysis on Service Industries:
Productivity, Economic Welfare, and Policy Evaluation)
concurrent Faculty Fellow
concurrent Faculty Fellow
concurrent Faculty Fellow
concurrent Faculty Fellow
concurrent Faculty Fellow
concurrent Faculty Fellow
concurrent Faculty Fellow
concurrent Faculty Fellow
Vice President（VP)
MORIKAWA Masayuki
Senior Fellow（SF)
GOTO Yasuo
Japanese Macroeconomics, Financial Economics, Industrial
Economics, Small Business Economics
KONISHI Yoko
Econometrics
<Decomposition of Economic Fluctuations for Supply and Demand
Shocks> (RIETI Data Management Project)
NAKATA Daigo
Macroeconomics, Endogenous Economic Growth, Social Security,
Numerical Simulation, Sustainable PAYGO Pension System, GenderEqual Society
<Social Security System to Revive Economic Vitality and Improve the
Quality of Life> (Toward a Comprehensive Resolution of the Social
Security Problem: A new economics of aging)
NAKATA Hiroyuki
Microeconomic Theory, Financial Economics
(Empirical Analysis on Determinants and Impacts of the Formation of
Firm Networks) (An Empirical Study on Economic Resilience and
Maintenance of Economic Strength Against Disasters)
The Theory of Banking
<RIETI Data Management Project> (Innovation, Incentives, and
Organizations)
ODA Keiichiro
concurrent Research
Coordinator (Research)
ODAKI Kazuhiko
74
－
－
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
－
(April 2014-March 2015, alphabetical order)
Name
Research Projects at RIETI
< >=project leader　(　)=project participants
Research areas
OZAKI Masahiko
Global Warming Issues, Environmental Education, Finance, Innovation
(Study on Intangible Assets in Japan)
SAITO Yukiko
Industrial Organization, Spatial Economics, Network Analysis
<Geospatial Networks and Spillover Effects in Inter-organizational
Economic Activities> (Analysis on Service Industries: Productivity,
Economic Welfare, and Policy Evaluation)
Japan's FTA Policy, Application of Cognitive Therapy to Social Science
<Research Project on Mental Health from the Perspective of Human
Capital 2>
TAMURA Akihiko
International Political Economy, Global Governance, International
Economic Law, Regional Integration (Especially, EU and East Asian
Region), Corporate Social Responsibility, China
－
TAMURA Suguru
Science and Technology, Innovation Policy
(Standards and Intellectual Property)
Willem THORBECKE
Monetary Economics, Financial Economics, International Economics
＜ East Asian Production Networks, Trade, Exchange Rates, and
Global Imbalances ＞ (Research on Exchange Rate Pass-Through)
TOMITA Hideaki
Empirical Analysis for R&D, Patents and Innovation
(Evaluating International Competitiveness)
UENO Toru
SMEs & Regional Economic Policies, Entrepreneurship Education
YAMASHITA Kazuhito
Food and Agricultural Policy, Issues for Intermediate and Mountainous
Areas, WTO Agricultural Negotiations, Trade and Environment, Trade
and Food Safety
<Agricultural Policy Reform Aimed at Competitive Agriculture in the
Age of Globalization and Decreasing Population>
ARAKI Shota
Labor Economics, Applied Microeconometrics
(Economic Analysis of Human Resource Allocation Mechanisms
within the Firm: Insider econometrics using HR data) (RIETI Data
Management Project)
FUJII Daisuke
International Trade, Firm Dynamics and Macroeconomics, Supply
Chain and Firm Networks, Urban Economics
(Geospatial Networks and Spillover Effects in Inter-organizational
Economic Activities)
ITO Arata
Macroeconomics, Statistics for Economics
－
ITO Koichiro
Environmental and Energy Economics, Industrial Organization, Public
Economics
－
KAINOU Kazunari
Econometrics, Sustainable Development and Quantitative Policy
Evaluation
<Survey of International Trends and Discussions in Greenhouse Gas
Emission Reduction Projects under the UN Framework Convention
on Climate Change> (Evaluating International Competitiveness)
KAWAMURA Satoshi
Economic History of Japan, History of Transportation Industry,
Industrial Safety Administration
(Historical Study on Japan's Trade and Industrial Policy: From an
international perspective) (History of the Policies of the Nuclear and
Industrial Safety Agency)
KONDO Keisuke
Spatial Economics, Development Economics, Labor Economics,
Applied Econometrics (Microeconometrics, Spatial Econometrics,
Bayesian Econometrics)
(Restoration from Earthquake Damage and Growth Strategies of the
Japanese Regional Economy) (RIETI Data Management Project)
LIU Yang
Labor Economics, Migration, Wage, Human Capital, Labor Market
( The Effect of Diversity on Economic Growth and Business
Competitiveness) (RIETI Data Management Project)
MATSUDA Naoko
Economic Policy, Innovation Management, Network Analysis, Social
Network Service
<Economic Analysis of Entrepreneurship>
YAMAUCHI Isamu
Innovation, Research and Development (R&D) Management,
Intellectual Property
(Research on Innovation Process and its Institutional Infrastructure)
(The Role of Public Research Institutions in the Japanese National
Innovation System) (Study on Technology Know-how and its
Protection via Questionnaire Survey on the Japanese Manufacturing
Industry)
YIN Ting
Macroeconomics, Household Economics, Chinese Economy, Labor
Economies
<A Socioeconomic Analysis of Households in Environments
Characterized by Aging Population and Low Birth Rates> (Social
Security System to Revive Economic Vitality and Improve the Quality
of Life)
ZHANG Hongyong
International Economics, Spatial Economics, Development Economics,
Chinese Economy
(Global Markets and Japan's Industrial Growth) (East Asian Industrial
Productivity)
HASHIMOTO Hideki
Behavioral Science, Communication between Patients and Doctors,
Medical Insurance Policy
(Toward a Comprehensive Resolution of the Social Security Problem:
A new economics of aging)
KATO Atsuyuki
Economic Growth, Productivity Analysis, Trade and Development
(East Asian Production Networks, Trade, Exchange Rates, and Global
Imbalances）
TANAKA Ayumu
International Trade, Cultural Economics
(Global Markets and Japan's Industrial Growth) (Comprehensive
Research on the Current International Trade/Investment System (pt.
II))
SEKIZAWA Yoichi
concurrent Research
Coordinator (Policy
History)
Fellow（F)
Research Associate (RAs)
－
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
75
(April 2014-March 2015, alphabetical order)
Name
Research areas
TOMOHARA Akinori
International Economics, Labor Economics, Public Economics
TSUKADA Naotoshi
Economics of Innovation, Industrial Organization
(Research on Innovation Process and its Institutional Infrastructur)
(The Role of Public Research Institutions in the Japanese National
Innovation System) (Standards and Intellectual Property)
UCHINO Taisuke
Banking, Corporate Finance, Applied Econometrics
(Research on Exchange Rate Pass-Through) (Exports and the
Japanese Economy: Experiences in the 2000s and the lessons for the
future) (Study on Corporate Finance and Firm Dynamics) (RIETI Data
Management Project)
YOKOO Hidefumi
Environmental and Resource Economics
Faculty Fellow（FF)
76
Research Projects at RIETI
< >=project leader　(　)=project participants
－
－
AOKI Reiko
Standard, Intellectual Property and Innovation, Japanese Science and
Technology Policy
<Standards and Intellectual Property> (Basic Research for a New
Industrial Policy) (Globalization, Innovation, and Competition Policy)
AOYAMA Hideaki
Theoretical Physics, Econophysics
<Price Network and Dynamics of Small and Medium Enterprises>
DOI Takero
Public Economics, Political Economy
<Theoretical and Empirical Analyses on Incidences of Corporate
Income Taxation> (A Cost-Benefit Analysis of Fiscal Consolidation
Measures)
FUJIWARA Ippei
Macroeconomics, Monetary Economics, International Finance
<On Monetary and Fiscal Policy under Structural Changes and
Societal Aging>
GOTO Akira
Economics of Innovation, Economics of Competition Policy including
National Innovation Systems, Intellectual Property Rights, UniversityIndustry Cooperation, Nexus of Innovation and Competition Policy
<The Role of Public Research Institutions in the Japanese National
Innovation System>
HIGUCHI Yoshio
Econometrics, Labor Economics
<The Effect of Diversity on Economic Growth and Business
Competitiveness> (Reform of Labor Market Institutions)
ICHIMURA Hidehiko
Econometrics
<Toward a Comprehensive Resolution of the Social Security
Problem: A new economics of aging >
IIZUKA Toshiaki
Health Economics, Empirical Industrial Organization
<Health Policy and Innovation>
INUI Tomohiko
Productivity Analysis, International Economics, Health Economics,
Educational Economics, Chinese Economy
<Analysis on Service Industries: Productivity, Economic Welfare, and
Policy Evaluation> (Global Markets and Japan's Industrial Growth)
(East Asian Industrial Productivity) (Competitiveness of Japanese
Firms: Causes and Effects of the Productivity Dynamics) (Evaluating
International Competitiveness) (The Effect of Diversity on Economic
Growth and Business Competitiveness) (Energy and Industrial
Structural Change after the Fukushima Nuclear Accident)
ISHIKAWA Jota
International Trade Theory
<Trade and Industrial Policies in a Complex World Economy>
ITOH Hideshi
Organizational Economics, Contract Theory
<Innovation, Incentives, and Organizations>
IWAISAKO Tokuo
Financial Economics, Macroeconomics
<Exports and the Japanese Economy: Experiences in the 2000s and
the lessons for the future>
JINJI Naoto
International Economics, Environmental and Natural Resource
Economics, Industrial Organization
<A Study on Trade/FDI and the Environment/Energy>
(Comprehensive Research on the Current International Trade/
Investment System (pt.II))
KAWAGUCHI Daiji
Labor Economics, Applied Econometrics
<The Changing Japanese Labor Market: A perspective and desirable
policy responses> (Reform of Labor Market Institutions) (Economic
Analysis of Human Resource Allocation Mechanisms within the Firm:
Insider econometrics using HR data)
KAWAHAMA Noboru
Antitrust Law, Competition Policy
<Globalization, Innovation, and Competition Policy>
KAWASE Tsuyoshi
International Economic Law, Trade Policy
<Comprehensive Research on the Current International Trade/
Investment System (pt.II)> (A Study on Trade/FDI and the
Environment/Energy)
KIKKAWA Takeo
Japanese Business History, Energy Industry
<History of the Policies of the Nuclear and Industrial Safety Agency>
KIYOTA Kozo
Internatoinal Economics, Development Economics, Industrial
Organization
<Competitiveness of Japanese Firms: Causes and Effects of the
Productivity Dynamics> (Global Markets and Japan's Industrial
Growth) (East Asian Industrial Productivity)
KOBAYASHI Keiichiro
Endogenous Growth Theory, General Equilibrium, Business Cycles, Bad
Debt Problem, Debt Control Policy, Macropolitical Economy
<Macroeconomic Analysis on the Public Debt, Deflation, and Other
Related Issues>
KWON Hyeog Ug
Industrial Organization, Productivity Analysis, International Economics
<Analysis on Service Industries: Productivity, Economic Welfare, and
Policy Evaluation> (East Asian Industrial Productivity) (Study on
Intangible Assets in Japan) (Regional-Level Japan Industrial
Productivity Database: Database Refinement and Its Analysis)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
(April 2014-March 2015, alphabetical order)
Name
Research Projects at RIETI
< >=project leader　(　)=project participants
Research areas
MAMIYA Isamu
International Economic Law
<The Structural Analysis of Global Governance over International
Economic Law: Study on correlative relationship in conflicts between
policies, soft laws, and non-governmental entities>
MANAGI Shunsuke
Environmental Economics, Resource Economics, Applied Micro
Economics
<Energy and Industrial Structural Change after the Fukushima
Nuclear Accident>
MIYAGAWA Tsutomu
Macroeconomics, Japanese Economics, Asian Economic Trends
<Study on Intangible Assets in Japan> (East Asian Industrial
Productivity) (Regional-Level Japan Industrial Productivity Database:
Database Refinement and Its Analysis) (Competitiveness of Japanese
Firms: Causes and Effects of the Productivity Dynamics)
MIYAJIMA Hideaki
The Japanese Economy, Economic History of Japan, Corporate
Finance, Corporate Governance, Comparative Financial Systems
<Frontiers of Analysis on Corporate Governance: Growth, value
creation and corporate governance>
MORI Tomoya
Spatial Economics, Urban and Regional Economics
<Formation of Economic Regions and its Mechanism: Theory and
evidence>
MOTOHASHI Kazuyuki
Applied Micro Economics, Economic Statistics, Econometrics,
International Comparison of Productivity, Economic Analysis of
Information Technology, Technological Innovation and Economic
Growth, Innovation System, Input-Output Analysis
<Empirical Studies on "Japanese-style" Open Innovation> (Study on
Technology Know-how and its Protection via Questionnaire Survey
on the Japanese Manufacturing Industry)
NAKAJIMA Takanobu
Productivity Analysis
<Optimal Immigration Policy for Japan>
NAKAMURA Ryohei
Regional Science, Urban Economics
<Seeking Sustainable Regional Economies in the Economic
Globalization Age>
NISHIMURA Kazuo
Nonlinear Economic Dynamics, Educational Economics,
Neuroeconomics
<Fundamental Research for the Revival of a Vibrant Economy and
Society in Japan>
NOMURA Koji
Economic Measurement, Productivity Analysis, Energy and
Environment Economics
<Evaluating International Competitiveness>
OGAWA Eiji
International Currency, International Finance
<Research on Currency Baskets>
OKAZAKI Tetsuji
Economic History, Development Economics, Comparative Institutional
Analysis
<Historical Evaluation of Industrial Policies>
Organizational Economics, Labor Economics, Industrial Organization
<Economic Analysis of Human Resource Allocation Mechanisms
within the Firm: Insider econometrics using HR data> (Research on
Innovation Process and its Institutional Infrastructure) (Innovation,
Incentives, and Organizations) (Reform of Labor Market Institutions)
(Frontiers of Analysis on Corporate Governance: Growth, value
creation and corporate governance)
SAWADA Yasuyuki
Development Economics, Applied Micro-Econometrics, Field Survey
<An Empirical Study on Economic Resilience and Maintenance of
Economic Strength Against Disasters> (Empirical Analysis on
Determinants and Impacts of the Formation of Firm Networks)
(Toward a Comprehensive Resolution of the Social Security Problem:
A new economics of aging)
TABUCHI Takatoshi
Analysis of Urban Agglomeration Economies, Spatial Equilibrium,
Interregional Differentials, Social Welfare in the Context of Urban
Economics, New Economic Geography, International Economics,
Spatial Competition Theory
<Spatial Economic Analysis on Regional Growth>
TODO Yasuyuki
International Economics, Development Economics, Applied
Microeconometrics
<Empirical Analysis on Determinants and Impacts of the Formation
of Firm Networks>
TOKUI Joji
Quality of Labor Input, Embodied Technological Progress, Vintage of
Capital, Supply Chain Disruption
<Regional-Level Japan Industrial Productivity Database: Database
Refinement and Its Analysis> (East Asian Industrial Productivity)
TOMIURA Eiichi
Empirical International Trade
<Empirical Analysis of Trade Policy Preferences at the Individual
Level in Japan> (Global Markets and Japan's Industrial Growth)
UESUGI Iichiro
Corporate Finance, Small and Medium Enterprises, Japanese
Economy, Money Market
<Study on Corporate Finance and Firm Dynamics>
URATA Shujiro
International Economics, Development Economics
<Economic Impacts of Free Trade Agreements: The case of Japan>
USHIRO Fusao
Politics, Public Administration, Non-profit Organizations
<Research on the Liberalist Reforms of the Public-Private
Relationship and the Establishment of the Third Sector in Japan>
WATANABE Toshiya
Intellectual Property Management, Technology Transfer, Science and
Technology Policy
< St ud y on Te ch n ology Kn ow -h ow an d it s Pro tec tio n via
Questionnaire Survey on the Japanese Manufacturing Industry>
YAMAMOTO Isamu
Labor Economics, Applied Micro Economics
<Labor Market Analysis Using Matched Employer-Employee Panel
Data> (Reform of Labor Market Institutions) (The Effect of Diversity
on Economic Growth and Business Competitiveness)
Industrial Organization, Competition Policy, Innovation, Labor
Economics, Applied Econometrics
(The Structural Analysis of Global Governance over International
Economic Law: Study on correlative relationship in conflicts between
policies, soft laws, and non-governmental entities)
OWAN Hideo
Consulting Fellow（CF)
AMBASHI Masahito
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
77
(April 2014-March 2015, alphabetical order)
Name
Research areas
ANDOH Haruhiko
Innovation, 3R/Clean Technology, Modularization, SMEs & Venture
－
AOYAGI Chie
International Economics, International Development, International
Finance
－
－
(East Asian Industrial Productivity) (Regional-Level Japan Industrial
Productivity Database: Database Refinement and Its Analysis)
ARAI Sonoe
ENOMOTO Shunichi
Fluctuations in the Exchange Rate and Industrial Competitiveness,
International Corporation, Development of Human Resources
ETO Manabu
Technology Transfer, Management of Technology, Standardization
FUJII Toshihiko
Corporate Social Responsibility, Global Rule Making, Corporate
Lobbying
FUKANO Hiroyuki
－
－
(Standards and Intellectual Property)
－
(History of the Policies of the Nuclear and Industrial Safety Agency)
FUKUNAGA Yoshifumi
International Economic Law, Intellectual Property Law, International
Political Economy, Regional Economic Integration of ASEAN and East
Asia
－
FUKUYAMA Mitsuhiro
Globalization, East Asian Economic Integration, Comparative Political
Economy, Japanese Political and Economic Model, History and
Philosophy of Public Policy
－
Giovanni GANELLI
International Economics, Fiscal Policy, Structural Reforms in Japan
－
HASHIMOTO Masahiro
Policy and Institutions for Innovation, Intellectual Property Rights
－
HATA Shigenori
Innovation Policy, R&D Evaluation
HATA Yumiko
78
Research Projects at RIETI
< >=project leader　(　)=project participants
(Research on Innovation Process and its Institutional Infrastructure)
－
－
HATTORI Takashi
International Relations, Environment, Trade
－
HAYAFUJI Masahiro
Trade and Related Policies, Trade Regimes, Economic History,
Environmental Economics
－
HAYASHI Ryozo
U.S.-Japan Relations, Economic Structural Reform
HOSOYA Yuji
Industrial Agglomerations and Innovation, Small & Medium-sized
Enterprises, Regional Industrial Policy
－
ISHIGE Hiroyuki
International Economics, Industry, Small and Medium Enterprises
－
ISHII Yoshiaki
SME and Venture Business Policy, Industrial Organization, Innovation
Policy
－
ISOZUMI Koji
Development of Human Resources, Education, Aging in East Asia,
Management of Nonprofit Sector
－
ITO Koji
International Trade
IWAMOTO Koichi
Renewable Energy, Smart Factory, Regional Economy, German
Economy, Chinese Economy
－
KATAOKA Ryuichi
Macroeconomics in Japan, International Trade and Trade Investment
－
KAWAGISHI Shunsuke
Energy and Environment Policy, Domestic and International Climate
and Energy Policy, Policy Impact Assessment, Financial Analysis
－
KAWASAKI Kenichi
Computable General Equilibrium Model, Macro-Econometric Model
Trade and Investment Liberalization and Facilitation, Regulatory
Reform, Macroeconomic Policy, Business Cycles, Economic Outlook,
Household Saving Behavior, Determination of Wages and Prices
KAWAZU Tsukasa
Distribution Economics, Productivity of Distribution Industry
－
KIHARA Takashi
International Cooperation, Development Assistance
－
KINOSHITA Yuko
Foreign Direct Investment, Technology Spillovers, Economic Growth
and Innovation
(Global Markets and Japan's Industrial Growth)
KITAMI Tomitaro
Studies in the Governance of the Local Governments in Japan
(Research on the Liberalist Reforms of the Public-Private Relationship
and the Establishment of the Third Sector in Japan)
KOBAYASHI Hirokazu
Learning Organization, Intangible Assets, Innovation, Public
Management
－
KOBAYASHI Yohei
Public Economics, Urban Economics, Economic Analysis of the
Nonprofit Sector
(Social Security System to Revive Economic Vitality and Improve the
Quality of Life)
(Energy and Industrial Structural Change after the Fukushima
Nuclear Accident)
(Global Markets and Japan's Industrial Growth)
(Economic Impacts of Free Trade Agreements: The case of Japan)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
(April 2014-March 2015, alphabetical order)
Name
Research Projects at RIETI
< >=project leader　(　)=project participants
Research areas
<The Effect of Diversity on Economic Growth and Business
Competitiveness> (East Asian Industrial Productivity) (Study on
Intangible Assets in Japan) (Regional-Level Japan Industrial
Productivity Database: Database Refinement and Its Analysis)
(Analysis on Service Industries: Productivity, Economic Welfare, and
Policy Evaluation) (Competitiveness of Japanese Firms: Causes and
Effects of the Productivity Dynamics) (Energy and Industrial
Structural Change after the Fukushima Nuclear Accident)
KODAMA Naomi
Applied Microeconomics, Labor Economics
KOMATSU Ayako
Public Key Infrastructure, Social and Psychological Aspects of
Information Security
－
－
<The Structural Analysis of Global Governance over International
Economic Law: Study on correlative relationship in conflicts between
policies, soft laws, and non-governmental entities>
KOMETANI Kazumochi
KURATA Kenji
Technology Policy, Technology Governance in Society
－
Chi Hung KWAN
China's Economic Reform, Regional Integration in Asia, Yen Bloc
－
MATSUMOTO Kayo
Economic Integration in East Asia, International Trade Law,
International Investment Law
－
MATSUNAGA Akira
－
(Fundamental Research for the Revival of a Vibrant Economy and
Society in Japan)
MIYAZAKI Takashi
Empirical Research on Financial Markets Using Econometrics and
Time Series Analysis
－
MUNAKATA Naoko
Regional Economic Integration, Asian Economies, International Trade
System
－
NAKAHARA Hirohiko
－
NAKANO Takeshi
－
(Reform of Labor Market Institutions)
－
NAKATOMI Michitaka
Trade Law, Trade Policy, International Economy
NAKAZAWA Norio
Asian Economics, International Relations, Economic Thought, Market
Analysis
－
NASUNO Futoshi
Labor Economics and Law, Company Act and Corporate Governance,
Nuclear Liability Law, Intellectual Property Law
－
NISHIGAKI Atsuko
Government Organization, Competition Policy, Measures against Low
Birthrate
－
NISHIOKA Takashi
Social Insurance
(Social Security System to Revive Economic Vitality and Improve the
Quality of Life)
NISHITATENO Shuhei
International Economics, Transport Economics, Japanese Economy
(Competitiveness of Japanese Firms: Causes and Effects of the
Productivity Dynamics)
NOGUCHI Satoshi
Economic & Industrial Research with Government Statistics,
Information Policy, IT Strategy in the Healthcare Field
－
NOMI Toshihiko
Innovation Policy, Management of Technology, Public-Private
Partnership
－
OGAWA Makoto
Labor Economics, Human Resources Development, Manufacturing,
Industrial Promotion Policy
－
OGURO Kazumasa
Public Economics
－
OIKAWA Keita
Macroeconomics, Public Economics, Public Finance
SABURI Masataka
Innovation Policy, Social Medicine (How to solve social problems)
－
SAITO Jun
Partnership Taxation as a Prerequisite for Innovation
－
SAKATA Ichiro
Regional Economics, Regional Cluster, Innovation Policy, Tax System
－
SATO Hitoshi
International Trade, Economic Growth
(Global Markets and Japan's Industrial Growth)
SEKIGUCHI Kunio
Countermeasures against Risks
(An Empirical Study on Economic Resilience and Maintenance of
Economic Strength Against Disasters)
SHIMIZU Haruhiko
Bayesian Statistics, Econometrics
SHIMIZUTANI Satoshi
Japanese Economy, Macroeconomics, Health Economics
SHIRAISHI Shigeaki
Public Policy, International Economics, Service Economy, Energy
(Economic Impacts of Free Trade Agreements: The case of Japan)
(Social Security System to Revive Economic Vitality and Improve the
Quality of Life)
－
<Toward a Comprehensive Resolution of the Social Security
Problem: A new economics of aging>
－
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
79
(April 2014-March 2015, alphabetical order)
Name
Research Projects at RIETI
< >=project leader　(　)=project participants
Research areas
SUMITA Takayuki
Mechanism of Innovation, Intellectual Asset Based Management,
Energy Security
－
TAKAGI Hiroyasu
Statistics
－
TAKAKURA Shigeo
Intellectual Property Law, Patents, Patent Litigation, Client Consulting,
Opinions, Licensing
－
TAKAMURA Shizuka
Human Resource Management, Organizational Behavior, Work-Life
Balance Practices
( The Effect of Diversity on Economic Growth and Business
Competitiveness)
TAKEGAMI Shiro
Industry-University Cooperation, Industry-Medical Cooperation,
Regional Industrial Development, Security Export Control
－
TANI Midori
Consumer Policy, Environment Policy
－
TANIKAWA Hiroya
Competitiveness of Industries and Firms, Environmental, Energy &
Safety Policy, Politics & Economy in East Asia and the Middle East,
Regional Economic Integration, Developmental and Industrial Policy
－
TASHIRO Takeshi
Economic Growth, International Finance, Financial Crisis
－
TSUCHIMOTO Ichiro
Competitive Intelligence, Risk Management, Crisis Management,
Innovation Policy
－
UNAYAMA Takashi
Household Behavior, Applied Econometrics, Index Theory
WASHIO Tomoharu
U.S. Trade Policy, American Politics, U.S.-China Relations, FDI, World
Trade, American Corporate Strategy
－
YAMADA Masato
Work-Life Balance, Intellectual property policy
－
(Issues Faced by Japan's Economy and Economic Policy Part III:
Heterogeneity among economic agents)
YAMASHIRO Munehisa Innovation, IT
－
YASHIRO Naomitsu
International Trade, Innovation, International Macro Economy,
Chinese Economy
－
YOSHIDA Yasuhiko
Trade Policy, Trade Control, Infrastructure Export, Small Businesses,
Manufacturing Industry, Industrial Development Policy
－
Visiting Fellow（VF)
KITAO Sagiri
Macroeconomics, Fiscal Policy
(On Monetary and Fiscal Policy under Structural Changes and
Societal Aging)
MENG Jianjun
Development Economics, Industry Development, Environmental
Policy
(A Socioeconomic Analysis of Households in Environments
Characterized by Aging Population and Low Birth Rates)
YAMAGUCHI Kazuo
Quantitative Methodology (Event-History Models and Models for
Categorical Data), Work and Family, Work-Life Balance, Models of
Rational/Purposive Social Action, Life Course and Occupational
Career, Social Stratification and Social Inequality, Contemporary
Japanese Society, Social Network, Social Exchange, Social Diffusion,
Epidemiology of Drug Abuse, Longitudinal Analysis of Drug-Use
History
( The Effect of Diversity on Economic Growth and Business
Competitiveness)
FUJII Daisuke
International Trade, Firm Dynamics and Macroeconomics, Supply
Chain and Firm Networks, Urban Economics
(Geospatial Networks and Spillover Effects in Inter-organizational
Economic Activities)
Andrei GREENAWALT
Development and Implementation of Regulations and Regulatory
Policy
－
CHIOU Yi-hung (Eric)
International Political Economy, Foreign Direct Investment (FDI) and
International Conflict, Regional Economic Integration in the AsiaPacific, Political Economy of Southeast Asia
－
OKIMOTO Tatsuyoshi
Financial Econometrics, Empirical Finance, Applied Macroeconomics,
Econometrics
Visiting Scholar（VS)
80
(Exports and the Japanese Economy: Experiences in the 2000s and
the lessons for the future)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
Evaluation Committee
Research Institute of Economy, Trade and Industry, IAA
(As of the end of March 2015)
Special Advisor/
Advisor
Chairman
President and CRO
Vice Chairman
Auditor
Senior Research Advisors
Program Directors
Vice-President
Administration Group
Research Group
International Program /
Public Relations Group
Director of Administration
Director of Research
Research Coordinator (Research)
Research Coordinator (Policy History)
Director of International Coordination /
Public Relations
Deputy Director of Administration
(General Affairs, General Administration)
Deputy Director of Research
(Research, General Administration)
General Administration / Information Disclosure
and Internal Control
Research Support
Research Administration
General Affairs
Quantitative Analysis and Database
Pollcy History Group
Financial / Accounting
Information System
Human Resources / Labor
- Full-time Fellows (Senior Fellows, Fellows)
- Facullty Fellows
- Consullting Fellows
- Visiting Fellows
Deputy Director of International
Coordination / Public Relations
(Research Distribution, International Program)
Research Distribution
Conference Section / International Program
Public Relations
Online Editorial
Program Directors
Evaluation Subcommittee for RIETI
Program Directors (PDs) are assigned to each of the nine research
programs to conduct efficient and substantive research activities as a
whole via comprehensive research guidance, contributions to policy
formation, and cooperation among research programs.
An incorporated administrative agency sets definite targets and plans
for its activities. It is evaluated by a third-party organization to ensure the
adequacy of these plans and the transparency of its performance. This
third-party organization is called the Incorporated Administrative Agency
Evaluation Committee. A subcommittee established for each institution
undertakes an objective evaluation of the effectiveness and adequacy of
the institution’s operations.
Program Directors
Research Programs
Professor, Gakushuin University
WAKASUGI Adjunct Professor, Yokohama National
University
Ryuhei
Professor Emeritus, Kyoto University
Professor, School of International and
Public Affairs, Columbia University
ITO
Professor, National Graduate Institute for
Takatoshi
Policy Studies
Research Institute for
HAMAGUCHI Professor,
Economics and Business Administration
Nobuaki
(RIEB), Kobe University
NAGAOKA Professor, Institute of Innovation
Sadao
Research, Hitotsubashi University
Institute of Economic Research,
FUKAO Kyoji Director,
Hitotsubashi University
OHASHI
Professor, Faculty of Economics,
Hiroshi
The University of Tokyo
TSURU
Professor, the Graduate School of
Kotaro
Business and Commerce, Keio University
FUKAO
Mitsuhiro
Professor, Faculty of Business and
Commerce, Keio University
TAKEDA
Haruhito
Professor, Faculty of Economics and
Graduate School of Economics,
The University of Tokyo
International Trade
and Investment
International
Macroeconomics
Regional Economies
Subcommittee Head: ONO Toshihiko (Former Corporate Executive, Nisshin
Steel Co., Ltd.)
Subcommittee Members: KOJO Yoshiko (Professor, Graduate School of Arts
and Sciences, The University of Tokyo)
OGASAWARA Naoshi (Representative Partner,
Avantia GP)
(Subcommittee members in alphabetical order,
honorifics omitted, as of the end of March 2014)
Technology and
Innovation
Raising Industrial and
Firm Productivity
New Industrial
Policy
Note: Japan revised its independent administrative institution system in fiscal 2014. As
of fiscal 2015, evaluations will no longer be performed by the Evaluation Committee for
Independent Administrative Institutions and the Research Institute of Economy, Trade and
Industry Subcommittee.
Human Capital
External Advisory Committee
Social Security,
Taxation, and Public
Finance
The External Advisory Committee, which consists of external experts at
universities and research institutes, etc., verifies research progress and
efficiency and considers measures to enhance RIETI’s research activities.
Policy History and
Policy Assessment
ASHIDA Akimitsu (Representative Director [Chairman of the Board], Mitsui
O.S.K. Lines, Ltd.)
Richard E. BALDWIN (Professor, The Graduate Institute of International and
Development Studies, Geneva)
(Honorifics omitted, as of the end of March 2015)
FUKUI Toshihiko (President, The Canon Institute for Global Studies)
Senior Research Advisors
Senior Research Advisors (SRAs) give cross-sectional, comprehensive
advice on RIETI’s research activities and operations.
Dale W. JORGENSON (Professor, Harvard University)
KAWAI Masahiro (Project Professor, Graduate School of Public Policy, the
University of Tokyo / Counsellor, Bank of Japan)
TACHIBANAKI Toshiaki (Professor Emeritus, Kyoto University / Visiting
Professor, Kyoto Women’s University)
YOSHINO Naoyuki (Dean, Asian Development Bank Institute / Professor
Emeritus, Keio University)
NEZU Rizaburo (Former Executive Fellow, Fujitsu Research Institute)
WAKASUGI Ryuhei (Professor, Gakushuin University/Adjunct Professor,
Yokohama National University/Professor Emeritus,
Kyoto University)
YOSHIKAWA Hiroshi (Professor, Faculty of Economics, The University of
Tokyo)
KURODA Masahiro (Professor Emeritus, Keio University)
(In alphabetical order, honorifics omitted, as of the end of March 2015)
(In alphabetical order, honorifics omitted, as of the end of March 2015)
Research Institute of Economy, Trade and Industry, IAA, ANNUAL REPORT April 2014 - March 2015
81