RIETI has conducted and accumulated research on economic and industrial policy since its establishment in 2001. This April, we entered a new mid-term objective and mid-term plan period, with the goal of continuing to promote high-level research while strengthening our contribution to policy. I am aware of the gravity inherent in the responsibility of being appointed president at a time such as this, and I intend to fulfill my duties.
During the long period of stagnation since the bursting of the bubble economy, Japan has been left behind by the economic development of other countries. Not only is the situation expected to become more serious as the population declines and ages, but new technologies are beginning to have a broad impact on the world, and the era of the accelerating globalization since the end of the Cold War between the U.S. and the Soviet Union is coming to an end. We are at a historical turning point. Therefore, it is necessary to find a path to achieve long-term development by adopting new and innovative policy measures based on deep consideration of the situation.
In this context, RIETI needs to reaffirm its mission of taking economic and industrial policy in a better direction for our country through research and the promotion of research activities. For this reason, we hope to enhance our advisory function so that our policies can withstand academic criticism. In particular, we will provide input into policy formation from a medium- to long-term perspective through research centered on data-based empirical analysis. At the same time, as an independent administrative agency, we will continue to evaluate policies and propose reforms to ensure that the implemented policies are effective for our country. We will also strive to maintain the highest quality of research, since involvement in policy is only possible when backed up with academic findings. We also hope that closer exchanges of views with policy makers will stimulate our academic research. It is more important than ever before to collaborate with various parties in order to tackle this series of difficult issues and therefore, I thank you in advance for your guidance and advice.
April 1, 2024
