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Major Research Results: 2005

RIETI aims to become an "Economic Policy-Designing Headquarters" that can contribute to the formulation of pioneering and cross-cutting policies, detecting and excavating important policy issues in an adequate and preemptive manner by facilitating three-way exchanges among the government, the private sector and academia. To achieve this end, RIETI has set out "Major Common Themes" consisting of six pillars of key economic issues as a new mid- to long-term framework for research activities.

I. Comprehensive Appraisal of "Lost Decade"

RIETI seeks to comprehensively appraise gains and losses of the 10-year stagnation both from macro- and micro-economic viewpoints and to identify new challenges. Such systematic research on the exit mechanism from deflation will provide valuable knowledge to other developed nations as well as to neighboring Asian countries.
Sub Major Issues
  • I-(1) Exit mechanism unique to Japan's deflation
    1. The Connection Between the Dynamics of Public Debt, Prices, and Exchange Rates and the Real Economy
      KOBAYASHI Keiichiro, F
    2. The Mechanism for Exit from Deflation in the Late 19th Century
      TAKEMORI Shumpei, FF / Colin McKENZIE, FF
  • I-(2) Changes in determinants of TFP
    1. Development of a RIETI Manufacturing Database and Study of Productivity by Industry
      FUKAO Kyoji, FF / MIYAGAWA Tsutomu, FF
    2. Regulation of the Retail Sector, Market Competition, and Productivity
      MOTOHASHI Kazuyuki, FF
    3. An International Comparison of Productivity in East Asia
      MOTOHASHI Kazuyuki, FF
  • I-(3) Structural reforms - implementation and their effects
    1. A Scholarly Consideration of Institutional Design in Electricity Market Reform
      HATTA Tatsuo, FF / TANAKA Makoto, FF
    2. An Experimental Economic Approach to Institutional Design
      KAWAGOE Toshiji, FF / TAKIZAWA Hirokazu, F
  • I-(4) Institutional complementarities between corporate and government governance
    1. Division of Roles between the Public and Private Sectors under a Decentralized Regime: Empirical Studies on the Actual State and Roles of Local Governments' Special Account Budgets and Government-Affiliated Organizations and on the Relevant Governance Mechanism
      AKAI Nobuo, FF

II. New Global Imbalances in an Era of Asian Integration

The sustainability of the huge external deficits of the United States and the rapid accumulation of foreign reserves in Asia will be examined, based upon which RIETI seeks to design policies for trade, foreign exchange and structural changes that are compatible with future integration in Asia.
Sub Major Issues

III. Public Debt and Economics of Ageing

RIETI seeks to establish new comprehensive "economics of aging" that address not only the problem of fiscal deficits and public debt but also social security issues such as pensions, medical care and nursing, thereby presenting an ideal fiscal system for Japan.
Sub Major Issues

IV. New Financial Market Architecture and Corporate Governance

Toward the creation of a new financial system, RIETI seeks to establish a theoretical framework that goes beyond the conventional direct-versus-indirect finance approach thereby studying asset securitization and liquidity, corporate governance, small business finance, and public finance within that framework.
Sub Major Issues

V. Exploring New Systems for Innovation

RIETI seeks to clarify the linkages between science and technology (S-T linkages) and those between technology and industry (T-I linkages), the strengths and weakness of Japan's technological innovation and the role of regional clusters, and to explore technology innovation for information appliances, i.e. digital appliances that are capable of communication.
Sub Major Issues
  • V-(1) Searching for new innovation systems that strengthen competitiveness
    1. Study on the S-T-I Network
      KODAMA Fumio, FF / TAMADA Schumpeter, FF / GOTO Akira, FF
  • V-(2) Intellectual property rights and strengthening competitiveness
    1. A Theoretical and Empirical Study of the Industrial Economics of Product and Process Architecture
      FUJIMOTO Takahiro, FF / NOBEOKA Kentaro, FF / OKUNO Masahiro, FF / TAKIZAWA Hirokazu, F
    2. Survey and Analysis of Determinants in the International Competitiveness of Japan's Semiconductor Industry
      CHUMA Hiroyuki, FF
    3. Developmental Life Stages of SMEs and Venture Businesses
      YASUDA Takehiko, FF / TACHIBANAKI Toshiaki, FF
    4. China and Hi-Tech Industries: Economic Strategies and Their Implications
      Andrei HAGIU, F
    5. Innovation and Regulation in Multisided Markets
      Andrei HAGIU, F
    6. East Asian Economic Integration and Urban Agglomeration in Japan
      HATTA Tatsuo, FF / HISATAKE Masato, SF
    7. Global Management and Innovation of Japanese Companies
      ASAKAWA Kazuhiro, FF / SANBONMATSU Susumu, SF
    8. Evaluation of Developments in Intellectual Property Rights in Japan
      KIYOKAWA Yutaka, SF
  • V-(3) Regional cluster and enhanced industry-university collaboration
    1. Study on Industrial Clusters Focusing on TAMA
      KODAMA Toshihiro, SF
    2. Innovation and External Partnerships in Research and Development
      MOTOHASHI Kazuyuki, FF

VI. Strengthening Database and Model Operations

RIETI seeks to enhance microdata and improve model simulations that contribute to analysis of the areas of trade, pensions, energy and the environment, thereby strengthening the infrastructure for RIETI research activities.
Sub Major Issues
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