2017

The IIMA held a seminar titled “The Reality of BREXIT, difficult to understand neither in U.K. nor Japan”

On November 28, 2017, the IIMA held a seminar where Prof. Nobuyuki Sato, Minister of Finance, Japan was the lecturer. The seminar was titled “The Reality of BREXIT, difficult to understand neither in U.K. nor Japan”. In 2015-2017 Prof. Sato was a visiting fellow at Chatham House in London. The experience there contributed to the lecture and participants from many fields listened studiously and an active Q&A session followed. The small party that was held after the seminar, with Japanese Sake, conversations not only covered the seminar but many subjects and was a friendly atmosphere together with the participants.

IIMA conducted JICA’s Co-creation Program: Strengthening of Project Value Chain for Development Financial Institutions (DFIs) in SADC Countries

As a training course under Japan International Cooperation Agency’s ODA technical assistance, the IIMA in association with Japan International Cooperation Center conducted a course from Oct.19 to Nov.10, with 15 participants who are senior managers of the DFIs of eleven countries of the Southern African Development Community. Lectures were given by university professors, professional staff members of development/commercial banks and economists of IIMA. For the site tour destination, we chose Nagoya where many projects formerly financed by the World Bank are located. The participants rode the Shinkansen and visited TOYOTA automobile factory, Yokkaichi Thermal Power Plant, Aichi Canal and others. The participants also visited Japanese SME’s factory in CHIBA and had discussion about the investment to Africa. The participants are expected to apply the lessons learned to the enhancement of the management capability of their home countries’ DFIs.

IIMA conducted JICA’s Co-creation Program: Bond Market Development in ASEAN Countries (II)

As a training program under Japan International Cooperation Agency’s (JICA’s) ODA technical assistance, IIMA, in association with Japan International Cooperation Center (JICE), conducted a two-week course on the development of the bond market from September 21 to October 6, 2017 for 10 participants from the relevant monetary authorities of five countries: Cambodia, Laos, Myanmar, Philippines, and Iraq.

The program provided lectures on a wide variety of subjects, including Japan’s history of the financial and bond market, the role of securities companies and credit rating agencies, related laws and regulations, risk management, settlement systems, etc. The lecturers, aside from JICA and IIMA staff, were from Ministry of Finance, Financial Services Agency, University of Tokyo, Asian Development Bank, Japan Credit Rating Agency, Ltd, CLSA Capital Partners (Japan) KK., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., and the Bank of Tokyo Mitsubishi UFJ, Ltd. Active opinions and ideas were exchanged with the members of the participating countries during the program.

We sincerely hope that the participants would apply the lessons learned here to their own country’s bond market development policies.

The IIMA held a seminar titled “Mission Incomplete: Reflating Japan’s Economy”

On July 12, 2017, the IIMA held a seminar where Prof. Sayuri Shirai of Keio University and former member of the Policy Board of Bank of Japan was the lecturer. The IIMA invited members of foreign embassies, foreign central bankers and other institutions as participants. The seminar was titled “Mission Incomplete: Reflating Japan’s Economy” and Prof. Shirai presented in depth analysis on Japan’s recent monetary policies and what is to become, followed by a Q&A session where lively discussions were done with the participants. After the seminar a small wine party was held in which conversations covered many subjects surpassing those of the seminar and was a friendly atmosphere together with the participants.

IIMA members participated in a meeting “International Conference of Commercial Bank Economists/ ICCBE.”

From July 4 to 6, 2017, IIMA members participated in a meeting “International Conference of Commercial Bank Economists/ ICCBE” held in Paris. Mr. Mitsuru Yaguchi, General Manager and Chief Economist reported Japanese economy, and Mr. Koji Sakuma, Visiting Research Fellow / Professor of Kyoto Tachibana University reported capital flows in emerging economies. ICCBE is a meeting of financial economists founded in 1937 in order to discuss global economic issues and is held in different cities every year by rotation. The IIMA hosted it in Tokyo last year.

We had many hot issues to discuss this year including demography, productivity, technology, populism and deglobalization, and the conference lasted for total more than 20 hours in 3 days. Guest speakers from French government and European Central Bank were also invited, and we had a frank exchange of views regarding the economic policy and the monetary policy.

IIMA implemented “Executive Program in Public Finance Management / Government Debt Management 2017”, jointly conducted by the World Bank and JICA

From May 18 to June 2, 2017, JICA (Japan International Cooperation Agency), in association with the World Bank, held an executive program, inviting 22 senior officials from the finance ministries in 17 developing countries in Asia, Middle East, Africa and the Pacific regions. The IIMA, collaborating with JICE (Japan International Cooperation Center), acted as a secretariat, and implemented the planning and management of the project. This annual course is the second one since 2016 and lecturers were, aside from IIMA staff, from the Japanese Ministry of Finance, the Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Kokusai Asset Management, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. We also had a lecture at Kansai area to learn a perspective of fiscal management during the post- earthquake reconstruction. In order to successfully implement an effective fiscal and government debt management, “sharing Japan’s experience during the post WW II high-growth-era” is the key theme of the program aside from the proficiency of highly sophisticated analytical techniques and tools of the various market risks. IIMA hosted a farewell reception and there were lively exchanges of opinions and ideas. It is our sincere wish that this program will constitute a valuable global network among the participants and lecturers through face-to-face communications during the course and ultimately contribute to the stability and development of the domestic and international financial situations.

※The Lecture Materials(①，②　English)

The IIMA held a seminar titled “In-Depth Analysis - Chinese Economy: On the Sources and Mechanism of Economic Growth in China,” the second one in our Chinese economy series for this year.

On February 24, 2017, the IIMA held a seminar inviting Dr. Ligang Song from Australia as the lecturer. Dr. Song is an Associate Professor in Crawford School of Public Policy and Director of China Economy Program at the Australian National University. The seminar was held as the third and last in our Chinese economy series for the 2016 fiscal year. The audience included Japanese government officials, foreign diplomats in Tokyo, and economic researchers, all with deep understanding on today’s China. The seminar started with a one-hour presentation by Dr. Song followed by a thirty minutes Q&A session. The Chinese economy had grown drastically in the past 30-40 years and now has shifted to an era of middle-speed GDP growth. The lecture, touching upon the historical trend of economic growth by regions of China through the centuries, explained about the sources and mechanisms of China’s economic growth. Further, he explained about the problems currently faced by the Chinese economy through economic theories, demographic changes, and culture characteristics, succeeding in showing the dramatically changing views of China.

※Contents of lecture (English).