Hitotsubashi University has been sponsoring a series of symposiums and public lectures in the Kansai Area under the collective name of “Hitotsubashi University-Kansai Academia” since March 2008. The university will hold a panel discussion titled “Economic Outlook and Policy Responses: From a Financial Crisis to an Economic Crisis” in Osaka as the third and latest session of this series.
The financial crisis that emerged from the United States in 2008 is beginning to affect the real economy, despite a number of policy responses by governments worldwide. At the forthcoming open forum, panelists will discuss the mechanism through which the financial crisis is spilling over into an economic crisis, problems associated with this mechanism, and policy responses to the financial crisis.
The financial crisis is affecting the real economy in a variety of ways, including a reduction in credit extended by financial institutions, falling demand in the United States, China and other key markets for Japanese exports, currency revaluation, lay-offs in response to falling demand, and capital investment deferment. At the forum, the panelists will discuss a strategy for savings and financial investments and the effects on pensioners from the standpoint of the daily lives of Japanese citizens. They will also talk about the effects of the crisis from international perspectives, including international monetary systems, regulations on financial institutions and information sharing on risk management.
Wataru Takahashi, Director-General of the Institute for Monetary and Economic Studies, the Bank of Japan, Fumio Otake, Director of the Institute of Social and Economic Research, Osaka University, and Yoshiyasu Ono, professor at the Institute of Social and Economic Research, Osaka University, participate in the session from the financial community and regional economics circles in Kansai. They will serve as commentators to discuss with five financial experts associated with Hitotsubashi University’s Global Center of Excellence (COE) program, the Research Unit for Statistical and Empirical Analysis in Social Sciences. The panelists aim to introduce the most orthodox approach to economic crises and policy responses. We hope you will enjoy their persuasive and easy-to-understand discussions.
Prior to this panel discussion, Hitotsubashi University sponsored a “Forum on the Financial Crisis” on November 19, 2008. A video of the event is available at the university’s website for your reference.