The 2nd International Conferenceofthe Japan Economic Policy Association

November 29 − 30,

2003

Nagoya University, Higashiyama Campus
Nagoya City, Aichi Prefecture, Japan

Main ThemeNew Economic Governance: The Limit of National Policy and Role of Private Sector

Japan Economic Policy Association

JEPA
jepa@tamacc.chuo-u.ac.jp

Time Table 1
RoomTime

SaturdayNov. 29208

9:30~9:45

Opening Session

9:45~12:00

Plenary Session 1

302 / 303

13:00~15:00

Special Session 1

409 / 410

Session 1

Session 2

Session 3

Coffee Break / Core Time of Poster Session
Special Session 2(15:20~17:20)

15:20~18:00

Session 4

Session 5(15:20~17:20)

Session 6(16:00~18:00)

Session 9

Session 10

Welcome Party

18:00~20:00
9:00~11:00

Session 7

Session 8

Coffee Break / Core Time of Poster Session

11:00~11:15
11:15~13:15

Nov. 30

404 / 405

Lunch

12:00~13:00

15:00~15:20

Sunday308 / 309

Session 11

Session 12(11:55~13:15)
Lunch

13:15~14:00
14:00~15:30

Plenary Session 2

15:30~16:30

Special Lecture

16:30~16:45

Closing Session

Session 13

Session 14

Time Table 2
DateTime
9:30 ~Session

Room
9:45

9:45 ~ 12:00

208

Opening Session

Introducing New Economic GovernancePlenary Session 1

New Economic Governance: The Limit of National Policy and Role of Private Sector
Lunch

12:00 ~ 13:00

13:00 ~ 15:00
Nov. 29302 / 303

Special Session 1308 / 309

Session 1

Business Strategy and Industrial Policy

404 / 405

Session 2

International Trade and Regional Development

409 / 410

Session 3

Fiscal and Monetary Policy
Coffee Break / Core Time of Poster Session

15:00 ~ 15:20
15:20 ~ 17:20

302 / 303

Special Session 2

15:20 ~ 18:00

308 / 309

Session 4

Innovation and Productivity

15:20 ~ 17:20

404 / 405

Session 5

Resource and Environmental Policies

16:00 ~ 18:00

409 / 410

Session 6

Resource Utilization and Endogenous Growth

9:00 ~ 11:00

Public Private Partnership (2): The 2005 World Exposition

Welcome Party

18:00 ~ 20:00
302 / 303

Session 7

Interest Rates and Monetary Policy

308 / 309

Session 8

Competition and Regulation (1)404 / 405

Session 9

Fundamental Approach toward Economic Governance409 / 410

Session 10

Economic Governance and Institution (1)Coffee Break / Core Time of Poster Session

11:00 ~ 11:15
Nov. 30

Public Private Partnership (1): Central Japanese International Airport

11:15 ~ 13:15

302 / 303

Session 11International Conflict and Cooperation

11:55 ~ 13:15

308 / 309

Session 12

Competition and Regulation (2)404 / 405

Session 13

Economic Governance and Industrial Structure

409 / 410

Session 14

Economic Governance and Institution (2)11:15 ~ 13:15

Lunch

13:15 ~ 14:00
14:00 ~ 15:30
15:30 ~ 16:30
16:30 ~ 16:45

Plenary Session 2
208

New Economic Governance: The Limit of National Policy and Role of Private Sector

Special Lecture by Professor Sir James A. Mirrlees (Cambridge Unversity, 1996 Nobel Laureate in Economic Sciences)
Closing Session

New Economic Governance toward the 21st Century

Program
Saturday,

November29

9:30-9:45 (Room 208)
Opening Session
Introducing New Economic GovernanceSpeaker:

Akira YOKOYAMA (The President of the JEPA, Chuo University)

9:45-12:00 (Room 208)
Plenary Session 1
New Economic Governance: The Limit of National Policy and Role of Private Sector
Chair:

Hiroyuki KAWANOBE (Tokai University)

Deflation Caused by Bank Insolvency
Speaker:

Keiichiro KOBAYASHI (The Research Institute of Economy, Trade and Industry)Discussant:K. Ben NOWMAN (University of Westminster)Ignorance and the Limits of Effective Public Policy within Democratic Polities
Speaker:

Roger D. CONGLETON (George Mason University)

Discussant:Coskun Can AKTAN (Dokuz Eylul University)

Clubs and Reciprocity in Organ Transplantation: The Superiority of Private over Political
GovernanceSpeaker: Hartmut KLIEMT (University of Duisburg-Essen)
Discussant:Akira OKADA (Kyoto University)(12:00-13:00

Lunch Time)

13:00-15:00 (Room 302 / 303)
Special Session 1
Public Private Partnership (1): Central Japanese International Airport
Chair:

Nobuhiro OKUNO (Nagoya University)

History of the Chubu New International Airport until Approval as a New Business by theGovernment
Speaker: Ichirou KIMURA (The Chubu International Airport Research Foundation)
Discussant: Teiji WATANABE (Mie University)
Public-private Partnership at Central Japan International Airport Implementation of Construction
Cost Management for Airport Construction
Speaker: Yoshiaki BITO (Central Japan International Airport Co., Ltd.)
Discussant:Roger D. CONGLETON (George Mason University)4

13:00-15:00 (Room 308 / 309)
Session 1
Chair:

Business Strategy and Industrial Policy

Yoshihiko AKASHI (Osaka City University)

Is Public Listing a Way Out for State-Owned Enterprises?: The Case of China
Speaker:

Xiaozu WANG (Fudan University), Lixin Colin XU (The World Bank) & Tian ZHU(Hong Kong University of Science and Technology)

Discussant:Peng XU (Hosei University)

Do Stronger Patents in Length Induce More Patents?: Evidence from Taiwan’s 1994 Patent Reform
Speaker:

Chih-Hai YANG & Tsan-Kai TSOU (Tamkang University)

Discussant:Yasumi MATSUMOTO (Waseda University)

R&D Networks: Emerging Concentration?
Speaker:

Koichiro OKAMURA & Nicholas S. VONORTAS (The George Washington University)

Discussant:Takanori IDA (Kyoto University)

13:00-15:00 (Room 404 / 405)
Session 2

International Trade and Regional Development
Chair:

Reishi MARUYA (Kobe University)

China's Accession to the World Trade Organization and Township and Village Enterprises: Impactand Policy for Agricultural Processing Industry
Speaker: Shi CHENG (Nagoya University)Discussant:Masumi KISHI (Chuo Univrsity)

Reverse Imports, Foreign Direct Investment and Exchange Rates
Speaker:

Yuqing XING (International University of Japan) & Laixun ZHAO (HokkaidoUniversity)

Discussant:Jong-Rong CHEN (National Central University)

Foreign Direct Investment and Emerging Patterns of International Division of Labor in East Asia: The
Case of Electronics Industry
Speaker: Tatsuyuki OTA (Toyo University)
Discussant:Jaleel AHMAD (Concordia University)

13:00-15:00 (Room 409 / 410)
Session 3
Chair:

Fiscal and Monetary Policy

Nobuhito TAKEUCHI (Nagoya University)

Financing in the Other Way Development by Private Sector in Globalisation Context: Ivorian NGO
Experiences
Speaker: Kalilou SYLLA (Abidjan University)
Discussant:Oussouby SACKO (Kyoto Seika University)

Global Financial Architecture, Emerging World Monetary, Relations and Growth in Less Developed
Areas: Reforming the Reformer
Speaker: Mangat Ram AGGARWAL (Panjab University)
Discussant:Junichi GOTO (Kobe University)

The Multiplier Effect in the Recent Japan
Speaker:

Haruki NIWA (Osaka Gakuin University)

Discussant:Terukazu SURUGA (Osaka Prefectural University)5(15:00-15:20

Coffee Break / Core Time of Poster Session)

15:20-17:20 (Room 302 / 303)
Special Session 2
Public Private Partnership (2): The 2005 World Exposition
Chair:

Xiaozu WANG (Fudan University)

The Economic and Social Impact of the "Large-scale Public Event Project (LPED)": Aspects of Expected
Effect and Its Evaluation on LPED
Speaker:

Hisao KIBUNE (Nagoya Gakuin University)

Discussant: Joost VAN ACHT (Hitotsubashi University)

The International Exhibition and Roles of Private Sectors
Speaker:

Masao FUJITA (Japan Association for the 2005 World Exposition)

Discussant:Koshin KIMURA (Nagoya Gakuin University)

15:20-18:00 (Room 308 / 309)
Session 4
Chair:

Innovation and Productivity

Koji SHINJO (Kobe University)

Innovation Strategy and Labor Productivity Growth: Micro Evidence
Manufacturing Firms
Speaker: Stéphane ROBIN (CRESGE) & Chia-Lin CHANG (IRES-UCL)
Discussant:fromTaiwanese

Jiro NEMOTO (Nagoya University)

Productive Efficiency, Technical Change and Impacts of Deregulation in US Electric Power
Utilities: Evidence from Three Vertical Divisions during the Period 1990 through 1999
Speaker: Mika GOTO & Miki TSUTSUI (Socio-economic Research Center, Central ResearchInstitute of Electric Power Industry)Discussant:Kozo HARIMAYA (Sapporo Gakuin University)

Impacts of Environmental Regulation on Technical Efficiency and Productivity in China
Speaker:

Donglan XU, Sangmok KANG & Yuko ARAYAMA (Nagoya University)

Discussant:Hirokuni IMAIZUMI (Fukuoka University)

An Empirical Evidence of the Convergence Hypothesis in China Case: Including Environmental
Dummy Variables
Speaker: Chi AN (Nagoya University)
Discussant:Katsuyoshi OKUI (Otemon Gakuin University)

15:20-17:20 (Room 404 / 405)
Session 5
Chair:

Resource and Environmental Policies
Akira YOKOYAMA (Chuo University)

How Sustainable is China?: Measuring China’s Sustainability with Green NNP and Ecological
Footprint
Speaker: Dapeng CAI (Nagoya University)
Discussant:Masahiro YABUTA (Chuo University)

A Waste Management Policy about the Durable Goods and Consumer Behavior
Speaker:

Hideyuki AKAISHI (Hosei University)

Discussant:Soo-Choel LEE (Nagoya Gakuin University)

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An Economic Analysis of the Soil Contamination Countermeasures Law in Japan
Speaker:

Daisaku GOTO (Kyushu University)

Discussant:Hartmut KLIEMT (University of Duisburg-Essen)

An Economic Analysis of Solid Waste Management in Urban Areas of Developing Countries: The
Case of Metro Manila Cancelled
Speaker: Akira GOTO (Kobe University), Maria Reinaruth CARLOS (Ryukoku University) &Makoto SUKEGAWA (Kobe University)
Discussant:Shunichi MAEKAWA (Meikai University)

16:00-18:00 (Room 409 / 410)
Session 6Chair:

Resource Utilization and Endogenous Growth
Keisuke OHSUMI (Kyushu University)

Long-Run Impact and Policy Options on Mode 4 Liberalization of Services: Movement of Natural
Persons Cancelled
Speaker: H. N. THENUWARA (Central Bank of Sri Lanka)
Discussant:Yoshio YOSHIDA (Asahi University)

On the Optimal Technology Sourcing Strategy between Internal and External Sources with
Spillover EffectSpeaker: Jong-Rong CHEN & Wen-Cheng LU (National Central University)
Discussant:Daisuke IKAZAKI (Kumamoto Gakuen University)

R＆D, Human Capital, and Environmental Externality in an Endogenous Growth ModelSpeaker:

Daisuke IKAZAKI (Kumamoto Gakuen University)

Discussant:Hikaru OGAWA (Nagoya University)

Human Capital Accumulation and Economic Growth: Evidence from China
Speaker:

Ebrayim ELHAM (Nagoya University)

Discussant:Hirokuni Iijima (Chuo University)

Welcome Party (18:00-20:00)
at Nagoya University
Place: GSID Reception Room (Next to Integrated Research Building)Time: Starting at 18:00 or immediately after the afternoon sessions
Access: On foot. Follow to a notice and announcement.

7Sunday,November30

9:00-11:00 (Room 302 / 303)
Session 7
Chair:

Interest Rates and Monetary PolicyRyokichi CHIDA (Meiji University)

On the Relationship Between the Very Short Forward and the Spot Interest Rate
Speaker:

Iichiro UESUGI (The Research Institute of Economy, Trade and Industry)Discussant:Nobuyoshi YAMORI (Nagoya University)

Was Japan's Real Interest Rate Really Too High during the 1990's?: The Role of the Zero Interest
Rate Bound and Other Factors
Speaker: Hiro Ito (Claremont McKenna College)
Discussant:Keiichiro KOBAYASHI (The Research Institute of Economy, Trade and Industry)

Forecasting Japanese Interest Rates: An Empirical Analysis
Speaker: K. Ben NOWMAN (University of Westminster) & Burak SALTOGLU (MarmaraUniversity)
Discussant:Naotsugu HAYASHI (Hosei University)

9:00-11:00 (Room 308 / 309)
Session 8
Chair:

Competition and Regulation (1)Takashi MATSUGI (Aichi Gakuin University)(Im)Possibility of Rational Regulation
Speaker:

Coskun Can AKTAN (Dokuz Eylul University)

Discussant:Kazuyoshi KUROKAWA (Hosei University)

Government Role, Tax Policy, and Insurance Market
Speaker: Chwen-Chi LIU, Chu-Shiu LI & Chen-Sheng YANG (Feng Chia University)
Discussant:Yasuharu TAKENAKA (Nihon University)

Current Chinese Mobile Communications Market Calls for Better Regulation
Speaker: Chun Chun NI (Toyo University)Discussant:Manabu SHISHIKURA (Institute for Information and Communications Policy)

9:00-11:00 (Room 404 / 405)
Session 9

Fundamental Approach toward Economic Governance
Chair:

Mari NISHINO (Meiji University)

Tax Capacity Disparities and Fiscal Equalization: The Case of Spanish Local Governments
Speaker:

Alejandro ESTELLER-MORÉ, Antoni CASTELLS & Maite VILALTA (Universitat deBarcelona & Institut d'Economia de Barcelona)

Discussant:Masashi NISHIKAWA (Saitama University)

Domestic Debt as a Commitment Device: A Probabilistic Voting Model of Sovereign Debt
Speaker: Stefan BRANDAUER (Munich Graduate School of Economics)
Discussant:Toshihiro IHORI (University of Tokyo)

On Equity of the Opportunity Distribution in the Market Economy
Speaker: Daisuke UDAGAWA (Waseda University)
Discussant:Reiko GOTOH (National Institute of Population and Social Security Research)89:00-11:00 (Room 409 / 410)
Session 10
Chair:

Economic Governance and Institution (1)M. Shamsul HAQUE (National University of Singapore)

Future of Unorganised Manufacturing Enterprises in Third World Countries
Speaker:

Mohd Izhar AHMAD (Aligarh Muslim University)

Discussant:Khondaker Mizanur Rahman (Nanzan University)

The Governance of Innovative Firms: An Evolutionary Perspective
Speaker: Jackie KRAFFT & Jacques-Laurent RAVIX (CNRS-IDEFI-LATAPSES)
Discussant:Norihiro KASUGA (Nagasaki University)

Fair and Free Competition
Speaker: Koki ARAI (Osaka University)
Discussant:Takashi YANAGAWA (Kobe University)(11:00-11:15

Coffee Break / Core Time of Poster Session)

11:15-13:15 (Room 302 / 303)
Session 11
Chair:

International Conflict and Cooperation
Yuko ARAYAMA (Nagoya University)

Why Are There So Many Preferential Trading Areas?: A Political Economy Perspective
Speaker:

Jaleel AHMAD (Concordia University)

Discussant:Yujiro OOIWA (Tokyo International University)

What Roles Do International Institutions and Regulation Play in Harmonising Business Practices
around the Globe?
Speaker: Bryane MICHAEL (Linacre College, Oxford)
Discussant:Koki ARAI (Osaka University)

An Empirical Study of the Effect of NAFTA on Bilateral Trade
Speaker: Brett STEPHENSON, Myint SAN, Myo Oo LWIN & Takashi MATSUGI (Aichi GakuinUniversity)
Discussant:Kiyoshi FUJIKAWA (Konan University)

11:55-13:15 (Room 308 / 309)
Session 12
Chair:

Competition and Regulation (2)Akio TORII (Yokohama National University)

Surcharge and Cartel Restraint
Speaker: Takashi YANAGAWA (Kobe University), late Shuichi SENBONGI (Shiga University) &Ichiro YOSHINO (Nagoya University of Commerce & Business)
Discussant:Jackie KRAFFT (CNRS-IDEFI-LATAPSES)

Merger Policy with Alternative Mergers and Efficiency Gains
Speaker: Carlos RAZO (Stockholm University)
Discussant:Keizo MIZUNO (Kwansei Gakuin University)9

11:15-13:15 (Room 404 / 405)
Session 13
Chair:

Economic Governance and Industrial Structure
Fumihiko ADACHI (Kinjo Gakuin University)

Debt and Entrenchment: Evidence from Thailand and Indonesia
Speaker:

Pramuan BUNKANWANICHA (Université Paris 1- Panthéon-Sorbonne), Jyoti GUPTA(ESCP-EAP European School of Management), & Rofikoh ROKHIM (Université Paris
1- Panthéon-Sorbonne)

Discussant:Kazuki YOKOYAMA (Nagoya City University)

A Fuzzy Logic Paradigm for Industrial Economic Analysis
Speaker: Saeid H. KASHANI (University of Rennes I)
Discussant:Pramuan BUNKANWANICHA (Université Paris 1- Panthéon-Sorbonne)

The Analysis of Terrestrial Broadcasting Industry in Japan
Speaker: Norihiro KASUGA (Nagasaki University) & Manabu SHISHIKURA (Institute forInformation and Communications Policy)
Discussant:Haruko YAMASHITA (Meikai University)

11:15-13:15 (Room 409 / 410)
Session 14
Chair:

Economic Governance and Institution (2)Alejandro ESTELLER-MORÉ (Universitat de Barcelona)Business Ownership and Unemployment in Japan
Speaker: Joost VAN ACHT (Hitotsubashi University), Joop STAM (Erasmus University), Roy
THURIK (Erasmus University) & Ingrid VERHEUL (Erasmus University)
Discussant:Peng XU (Hosei University)

Inefficiency of the Equity-investment Regulations on Big Business Groups in Korea
Speaker: Se-Young BAE (Konyang University), Inhak HWANG (Konyang University) & In Woo
Jun (Uiduk University)
Discussant:Mitsuo SASAKI (Nihon University)

A Comparative Institutional Analysis on eGovernment Initiatives: Trilateral Evaluation on National
Policies for Information Technology Use in GovernanceSpeaker: Akira TSUCHIYA (Keio Research Institute at Shonan Fujisawa)
Discussant:Yoji TANIGUCHI (Chuo University)(13:15-14:00Lunch Time)

14:00-15:30 (Room 208)
Plenary Session 2
New Economic Governance: The Limit of National Policy and Role of Private Sector
Chair:

Yasumi MATSUMOTO (Waseda University)

Reinventing Governance in Southeast Asia: What Are Its Impacts on Economic Soveregnty and
Self-reliance?
Speaker: M. Shamsul HAQUE (National University of Singapore)
Discussant:Nobuhiko SUTO (House of Representative)

Property Rights in Context: Privatization's Legacy for Corporate Legality in Poland and Russia
Speaker: David M. WOODRUFF (Massachusetts Institute of Technology)
Discussant:Kunio SAKAI (Aichi Gakuin University)10

15:30-16:30 (Room 208)
Special Lecture by Professor Sir James A. Mirrlees(1996 Nobel Laureate in Economic Sciences)
Chair:

Yasumi MATSUMOTO (Waseda University)

Private Action and the Public Good: Creating the Right Incentives
Speaker:

New Title

James Mirrlees (Trinity College, Cambridge)

Q&A
16:30-16:45 (Room 208)
Closing Session
New Economic Governance toward the 21st Century
Speaker:

Hiromi YOKOI (The Former President of the JEPA, Nagoya Gakuin University)

11Organizing Committee
Chair

Akira YOKOYAMA (Chuo University)
Yuko ARAYAMA (Nagoya University)
Takashi GUNJIMA (Doshisha University)
Hiroyuki KAWANOBE(Tokai University)

Kohei KOMAMURA(Toyo University)

Takashi MATSUGI(Aichi Gakuin University)

Yasumi MATSUMOTO(Waseda University)

Hiroshi SAITO(Aichi Gakuin University)

Mitsuo SASAKI(Nihon University)

Koji SHINJO(Kobe University)

Motosuke SUGINO(Kyushu Kyoritsu University)

Sawako TAKEUCHI
Yoji TANIGUCHI
Akio TORII(Toyo University)(Chuo University)(Yokohama National University)

Masu UEKUSA (Toyo University)

Program Committee
ChairYasumi MATSUMOTO (Waseda University)
Yoshihiko AKASHI (Osaka City University)
Yuko ARAYAMA (Nagoya University)
Kohei KOMAMURA
Takayuki NAGOH(Kobe University)

Sawako TAKEUCHI
Yoji TANIGUCHI
Akio TORII(Toyo University)(Toyo University)(Chuo University)(Yokohama National University)

Hiroto TSUKADA(Yamaguchi University)

Akira YOKOYAMA (Chuo University))

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Managing Committee
Chair

Nobuhiro OKUNO (Nagoya University)
Nobuhito TAKEUCHI(Nagoya University)

Yuko ARAYAMA (Nagoya University)
Takashi MATSUGI (Aichi Gakuin University)
Hiromi YOKOI(Nagoya Gakuin University)

Kunio SAKAI(Aichi Gakuin University)

Shigeaki MIZUTANI (Nanzan University)
Fumihiko ADACHI(Kinjo Gauin University)

Conference Secretariat
Katuya MIYOSHI(Nagoya University)

Yukiko KOBAYASHI (Nagoya University)
Emiko AMANO(Chuo University)

Sawaka OKADA(Chuo University)

Shumpei YAOITA(Chuo University)

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Welcome Dinner
The welcome Dinner takes place at the Campus of Nagoya University
immediately after the afternoon sessions on November 29. You are cordiallyinvited to this dinner.
You can find your favorite Japanese dishes and Nagoya’s famous
specialties! We believe that you can surely enjoy them.
***Place:GSID Reception Room (Next to Integrated Research Building)Time:
Starting at 18:00 or immediately after the afternoon sessions
Access:On foot. Follow to a notice and announcement.
***14

Campus Map
Directions:[Subway]
Take the Higashiyama Subway Line to the Motoyama Station.
(Use exit 3 or 4.)[Bus]
Catch a bus at Motoyama for Shimada Jutaku, Hirabari
Jutaku, or Nagoya Daigaku. Get off at Nagoya Daigaku Mae.
(¥200/each way)
[Walk]
It is about a 15minute walk from Motoyama Station. (thedistance from Motoyama Station to Nagoya University,Although it is only 1.2km the walk is uphill.)

Conference Place : Integrated Research Building (No.62)

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Access Information

Use subway (Higashiyama-Line) to Nagoya University at JR Nagoya Station.
Get off the subway at Motoyama Station. You can take bus or walk. It isabout 15 minutes on foot to Nagoya University.

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