1996-1997

1. Financial Infrastructure in Asia - How Can Asia and Japan Prosper Together?

It is said that economic growth in Asia has slowed down because of serious currency crises which emerged last summer. How can financial areas be reinforced, key factors for Asia's further growth and development? How can they be improved to further stimulate and support the development of growing Asian economies so that they may better enjoy the benefits of their achievements? We are investigating the current circumstances in Asian financial markets and, based on this field analysis, will explore future prospects.

2. Economic and Monetary Union

Now that the introduction of the euro in 11 countries on January 1, 1999, appears to no longer be in doubt, the countries involved are making all possible efforts in preparation for EMU. We are investigating what will happen in the world financial system and markets if and when EMU is launched, and what impact they will have on the management of Japanese companies and financial institutions.

3. Financial Transaction Settlement Risks

As financial transactions become more globalized and complicated, concern about settlement risks connected with, for example, foreign exchange and securities transactions has grown. This theme has now been comprehensively investigated by, for example, the Bank for International Settlements and the Group of 30. Our aim is to work on this issue from the viewpoint of how they influence the management of Japanese financial institutions.

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