2001

1. Financial Cooperation in Asia

IIMA was commissioned by the Ministry of Finance to plan and coordinate a study on the strength of regional surveillance and financial cooperation, which is one of the topics of the research projects agreed upon at the ASEM Kobe Meeting in January 2001. Financial cooperation are required in Asia, such as establishing mechanisms to avoid financial crises, introducing surveillance mechanisms for normal conditions, enhancing prudential regulations, improving capital markets to help private corporations raise funds smoothly, and encouraging economic activity in the region. IIMA offered some policy recommendations for financial cooperation in Asia. This report was presented to the Fourth ASEM Finance Ministers' Meeting, held in Copenhagen in July 2002.

2. Research on Asian Financial Markets

Since its establishment, IIMA has researched the development of Asian financial infrastructures. Results are reflected in the ASEM project described above.

3. Introduction of the Euro and Expansion of the EU

The euro was introduced in January 2002, and now the EU is preparing for an eastward expansion. This year IIMA researched how this would affect the world economy and the international currency regime. IIMA held its tenth international currency symposium, entitled "The Arrival of the Euro Currency: January 2002 and Beyond," on November 15, 2001, under the joint auspices of the Delegation of the European Commission in Japan. This symposium is described in IIMA's 11th occasional paper.

4. Information Technology and Finance

E-trading has made remarkable progress in many financial-market fields, affecting the financial environment. IIMA conducted a research project concerning e-trading in securities and banking businesses in Europe and Asia.

5. Evaluation of Support by the Japanese Government After the Asian Currency Crisis

IIMA was commissioned by the Ministry of Finance to evaluate support by the Japanese government after the Asian currency crisis, including the "New Miyazawa Plan." This year, IIMA conducted a field survey and researched related articles as a preparatory step.

6. Internationalization of the Yen

IIMA was commissioned by Ministry of Finance to succeed the research project, what would be necessary for the internationalization of the yen.

7. Research Committee on East Asia

Commissioned by the Ministry of Finance, IIMA managed a research committee on East Asia, which was especially concerned with the future of China.

8.Research Committee on Southeast Asian Financial Issues

Commissioned by the Ministry of Finance, IIMA managed a research committee on financial issues in Southeast Asia, and edited a report on its results.

9. Research Committee on South Asian Economic Issues

Commissioned by the Ministry of Finance, IIMA managed a research committee on economic issues in South Asia, and edited a report on its results.

10. Research Committee on International Capital Flow

Commissioned by the Ministry of Finance, IIMA managed a research committee on international capital flows, and edited a report on its results.

11. Integration of Financial Services in the EU

IIMA conducted a research on the integration of financial services and markets in the EU, considering them from such comprehensive standpoints as changes of trading in financial and capital markets, the progress plans for financial services in the EU, reorganization of European stock exchanges, the progress of e-trading, harmonization of financial supervision, and correspondent Japanese-related companies and financial institutions.