Fiscal 2011 marked the first year of RIETIʼs third medium-term plan (fiscal 2011 to fiscal 2015). RIETIʼs primary mission in its third medium-term plan is to undertake theoretical and empirical research to create an overall blueprint for putting the Japanese economy on a growth path and solidify- ing sustainable growth in the future. To this end, RIETI began developing a research framework tailored to this and established a framework that focused on nine research programs (see 1. (1) below). Regarding the policy issues arising from the Great East Japan Earthquake, which caused the largest-ever multiple disasters in Japanese history, RIETI was able to pursue a number of different approaches and disseminate information. Excel- lent researchers in a broad range of fields who hold positions at universities and other institutions joined together as RIETI fellows and furthered their own research, taking advantage of RIETIʼs agility, one benefit of being an incorporated administrative agency.
Following are the research and public relations activities RIETI introduced in fiscal 2011, including endeavors related to the Great East Japan Earth- quake, on which RIETI placed particular importance.
1. Research Activities
(1) Developing a research framework
In the first year of its third medium-term plan, RIETI established nine research programs covering a broad range of policy areas, including trade, in- dustrial, and economic policies, based on the Three Priority Viewpoints to be kept in mind at all times when carrying out research activity presented by the government. Each research program appoints a leading expert in its respective research field to be the program director and oversees the individual research projects conducted by fellows. The programs are designed so that the research plans and the contents of the research projects interact in an organic manner through brainstorming workshops (BSWS) at the time when research projects are launched and through midterm workshops. In the nine programs, many new research projects related to restoration and reconstruction after the Great East Japan Earthquake were launched. We have decided that these research programs and research projects should be reviewed at an appropriate time so that they can flexibly respond to changes in economic circumstances and research needs (see Research Activities on page 7).
Three Priority Viewpoints on economic and industrial policies to be kept in mind when carrying out research activities:
1) Incorporating growth of the world economy 2) Developing new growth areas
3) Responding to changes in society and creating new economic and social systems for sustainable growth.
Research Program in fiscal 2011 Program Director Number of Research Projects under the Program
I. International Trade and Investment WAKASUGI Ryuhei, FF 7
II. International Macroeconomics ITO Takatoshi, FF 6
III. Regional Economies HAMAGUCHI Nobuaki, FF 6
IV. Technology and Innovation NAGAOKA Sadao, FF 5
V. Raising Industrial and Firm Productivity FUKAO Kyoji, FF 7
VI. New Industrial Policy OHASHI Hiroshi, FF 7
VII. Human Capital TSURU Kotaro, SF 5
VIII. Social Security, Taxation, and Public Finance FUKAO Mitsuhiro, FF 3 IX. Policy History and Policy Assessment TAKEDA Haruhito, FF 3
SP. Special Projects 10
Total Number of Research Projects 59
(2) Research papers
We published 108 research papers including Discussion Papers (DPs) and Policy Discussion Papers (PDPs). DPs are theoretical, analytical, and empirical research papers written in the form of an academic journal. As in the previous fiscal year, more DPs were written in Eng- lish than in Japanese (61 in English versus 37 in Japanese), reflecting our intention to disseminate them globally. On the other hand, there were more PDPs written in Japanese than in English, as their purpose is to contribute to policy discussions in a timely manner (9 in Japa- nese versus 1 in English). A total of 4 DPs and PDPs on the topics sur- rounding the Great East Japan Earthquake were released, and we expect to achieve a more fruitful outcome in and after fiscal 2012 (see the list of DPs and PDPs on page 38).
(3) Research cooperation
We made further progress in research cooperation with other institu- tions. In this field, we concluded a memorandum of understanding (MOU) in cooperation with the Council on Foreign Relations (CFR) in the United States to standardize the fellowship acceptance process between the two institutions. We also renewed an MOU for another five years with the Development Research Center of the State Council (DRC) in China, with which we have been conducting joint research since 2006. We also held a workshop in London with the Centre for Economic Policy Research (CEPR) in Europe, with which we have been working closely since fiscal 2007. Through these cooperative relation- ships, we deepened our international network and enhanced our research activities.
2. Public Relations Activities
(1) Symposiums and seminars
In fiscal 2011, we held 12 symposiums and seminars. Of these, we held two large symposiums in November on economic growth and enhancing industrial competitiveness after the Great East Japan Earthquake, and incorporated the post-March 11 viewpoint in a symposium on labor market reform, which is part of a series we have been holding since fiscal 2009. As such, in fiscal 2011, we emphasized responses to the Great East Japan Earthquake. We also introduced the latest overseas studies and disseminated our research results abroad through a workshop conducted jointly by Japan and South Korea and a special lecture given by Professor Dale W. JORGENSON of Harvard University (see the list of symposiums and seminars on page 52 and page 55).
■RIETI Policy Symposiums
Toward Strengthening Industrial Competitiveness Following the Great East Japan Earthquake: Efforts by the industrial sector and policy response
We discussed efforts in industrial circles to enhance the competitive- ness of the Japanese industries that were hit hard by the quake and to revitalize the economy in the Tohoku region. This, in turn, will revital- ize the entire Japanese economy and overcome the slowdown since the bursting of the economic bubble. We also discussed the necessary policy responses for these endeavors, such as further utilizing market mechanisms and opening up more trade opportunities.
(http://www.rieti.go.jp/en/events/11110701/info.html)
Toward Sustainable Economic Growth Following the Great East Ja- pan Earthquake: Restructuring of the economic infrastructure and policy response
We examined the economic infrastructure situation and financial functions in the Tohoku region after the quake, as well as the vulner- ability of Japanʼs economic infrastructure, as demonstrated by its en- ergy situation and fiscal condition, which have been re-emphasized.
We also discussed the policy responses that would lead to rapid restoration and rebuilding, as well as the reconstruction of the above mentioned infrastructure and medium- and long-term growth.
(http://www.rieti.go.jp/en/events/11111501/info.html)
■Brown Bag Lunch (BBL) Seminars
RIETI provides a venue for policy discussions with policy practitioners, academics, journalists, and diplomats during lunch breaks, and invites Japanese and foreign experts as lecturers. In fiscal 2011, we held 60 BBL Seminars, which covered a wide range of subjects including energy, the environment, trade policies, industrial policies, macroeconomics, the global economy, the Chinese economy, small and medium enterprises (SMEs) and ventures, and finance. These active discussions transcend the boundaries of industry, government, and academia. There were 15 BBL Seminars related to the Great East Japan Earthquake (see the list of BBL Seminars on page 58).
January 31, 2012 Surin PITSUWAN (Secretary-General of ASEAN)
"ASEAN and Regional Integration"
February 7, 2012
SAKANE Masahiro (Chairman of the Board, Komatsu Ltd.)
"DANTOTSU Management: Working to be- come a company that builds on strengths from one generation to another / Having confidence in a Japan-based global com- pany"
April 21, 2011 FUKAO Mitsuhiro (Professor, Faculty of Economics, Keio University)
"Economic Policy after the Great East Japan Earthquake"
November 11, 2011
Joe OLIVER (Minister of Natural Resources, Government of Canada)
"Canada's Emergence as a Global Energy Superpower"
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(see the list of RIETI publications on page 47).
■History of Japan＇s Trade and Industry Policy in 12 volumes continues (publication of Volumes 5, 6, 10, and 11)
Under the Policy History and Policy Assessment program, one of the nine research programs in the third medium-term plan, we publish books as a compilation based on the research results of the "Compilation of the History of Japanʼs Trade and Industry Policy" project carried out in RIETIʼs second medium-term plan. While continuing some related research, we published Volumes 5, 6, 10, and 11 of the series in fiscal 2011, following the publication of Volumes 4 and 9 in the previous fiscal year (see Policy History and Policy Assessment program on page 28).
Title Coordinating Lead Authors
Vol. 1 General Overview ODAKA Konosuke (Professor Emeritus, Hitotsubashi University / Professor Emeritus, Hosei University) Vol. 2 Trade Policy ABE Takeshi (Professor, Graduate School of Economics, Osaka University)
Vol. 3 Industrial Policy OKAZAKI Tetsuji (Professor, Graduate School of Economics, The University of Tokyo) Vol. 4 Distribution Policy / Consumer Administra-
tion ISHIHARA Takemasa (Professor, School of Business Administration, Kwansei Gakuin University) Vol. 5 Environment, Location, and Safety Policy TAKEDA Haruhito (Professor, Graduate School of Economics, The University of Tokyo) Vol. 6 Basic Industry Policy YAMAZAKI Shiro (Professor, Faculty of Urban Liberal Arts, Tokyo Metropolitan University) Vol. 7 Machinery and Information Industry Policy HASEGAWA Shin (Vice President and Professor of School of Business, Aoyama Gakuin University)
Vol. 8 Consumer Goods Industry Policy MATSUSHIMA Shigeru (Professor, Graduate School of Management of Science and Technology, Tokyo University of Science) Vol. 9 Industrial Science and Technology Policy SAWAI Minoru (Professor, Graduate School of Economics, Osaka University)
Vol. 10 Natural Resources and Energy Policy KIKKAWA Takeo (Professor, Graduate School of Commerce and Management, Hitotsubashi University)
Vol. 11 Intellectual Property Policy NAKAYAMA Nobuhiro (Professor Emeritus, The University of Tokyo / Professor, Organization for the Strategic Coordina- tion of Research and Intellectual Property, Meiji University)
Vol. 12 Small- and Medium-sized Enterprise Policy NAKATA Tetsuo (Professor, Graduate School of Business, Doshisha University)
Other Publications in fiscal 2011
(3) Public relations magazine, RIETI Highlight
Each quarter, we publish RIETI Highlight, a public relations magazine that introduces RIETIʼs latest activities. In fiscal 2011, we published an English version as a special edition. For each edition, we look at timely topics and present them as features. We published two editions that featured the Great East Japan Earthquake: "Quake Revival" (a special English edition, the 37th edition) and "Beyond the Great East Japan Earthquake" (a quar- terly edition, the 38th edition) (see Publicity Materials on page 57).
(4) Website
We created a subpage so that users can see our research results related to the Great East Japan Earthquake in aggregate. Not only is information on symposiums and seminars available, but also are earthquake-related articles contributed to newspapers and magazines by fellows (see Website on page 46).
Japanese
English
Chinese
■Roundtable Discussion Series on the Great East Japan Earthquake
A few months after the Great East Japan Earthquake, we held a series of three discussions with RIETIʼs chairman, fellows in related fields, and emi- nent business leaders. By receiving opinions and suggestions from these key figures regarding the post-quake situation, future prospects and ef- forts, and lessons from the earthquake, we deepened discussions on specific measures and issues for our industrial recovery in the future.
http://www.rieti.go.jp/en/special/dialogue/index.html
■Perspectives from Around the World
In considering Japanʼs future policies in the global context, it is crucial to discuss various relevant issues by inviting and incorporating opinions from around the world. In the Perspectives from Around the World section, which introduces the views of some of the worldʼs leading researchers regarding various issues including economic policy, security, and environmental problems, there were three columns related to the quake.
http://www.rieti.go.jp/en/special/p_a_w/index.html
■RIETI Columns, Special Reports, and Reposting of Newspapers and Magazines Articles by Fellows
In the columns written by fellows that are posted biweekly on RIETIʼs website and the Special Reports that cover issues in the spotlight, we actively covered the topics of the Great East Japan Earthquake. We also reposted a number of articles contributed to newspapers and magazines by fellows.
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Four DPs & PDPs
Japan and Economic Integration in East Asia: Post-disaster scenario
FUJITA Masahisa, President & CRO and HAMAGUCHI Nobuaki, FF
Natural Disasters and Firm Dynamics UESUGI Iichiro, FF, et al.
Evaluating the Economic Response to Japan's Earthquake Molly K. SCHNELL and David E. WEINSTEIN The Economic Impact of the Great East Japan Earthquake: Comparison with other disasters, supply chain disruptions, and electric power supply constraint TOKUI Joji, FF, et al.
Four Perspectives from Around the World
Securing a Future Energy Supply in a Sustainable Manner
TANAKA Nobuo (Executive Director, International Energy Agency) Why I Believe in Japan Tommy KOH (Co-Chairman, Japan-Singapore Symposium) Innovation and Entrepreneurship as Keys to Revival After 3/11 John V. ROOS (U.S. Ambassador to Japan) The German Path to the Energy of the Future: Reliable, affordable, and environmentally sound
Volker STANZEL (German Ambassador to Japan)
Sixteen Special Columns
Overcoming Challenges Brought on by the Unprecedented Disaster: Post-quake economic policies KOBAYASHI Keiichiro, SF The Impact of the Great East Japan Earthquake on International Trade TANAKA Ayumu, F Now is the Time for Statistics to Shine: The first step of reconstruction after the Great East Japan
Earthquake UNAYAMA Takashi, FF
Toward Reconstruction after the Great East Japan Earthquake: Let the future change the past TSURU Kotaro, SF The Response to the Electricity Shortage in Summer 2011: View from the experiences of petroleum
products consumption during the oil shocks YOSHIDA Yasuhiko, SF
Political Stability and Economic Growth: After the Great East Japan Earthquake MORIKAWA Masayuki, VP From a Growth Strategy to a Vision for Reconstruction MIYAGAWA Tsutomu, FF Beyond Reconstruction and Moving Towards New High Growth TODO Yasuyuki, FF
Earthquake and Structural Reform GOTO Yasuo, SF
Toward the Building of a New Social System in Restoration USHIRO Fusao, FF
Reconsidering Risks as Preconditions for Rebirth ONO Goro, SF
Electricity Price, the Electricity-saving Campaign, and Residential Electricity Consumption
MORIKAWA Masayuki, VP
Thinking About Offshore Outsourcing After 3/11 TOMOURA Eiichi, FF
A 15% Across-the-board-cut Would Be No Problem KAWAGUCHI Daiji, FF Why Isn’t a Supply and Demand Adjustment System based on Market Mechanisms Used?
KAINOU Kazunari, F
A Sense of Speed Necessary for the Recovery HAMAGUCHI Nobuaki, FF
Eight Special Reports
Post-quake Restoration Policy for East Japan from the Viewpoint of Spatial Economics
FUJITA Masahisa, President & CRO The Accident at the Fukushima Daiichi Nuclear Power Plant and its Impact on Energy Policy
KAINOU Kazunari, F Reconstruction after the Great East Japan Earthquake and Changes in Energy Supply and Demand in Afflicted Areas: A comparison of changes in energy supply and demand in Hyogo Prefecture before and
after the Great Hanshin-Awaji Earthquake KAINOU Kazunari, F
Utilizing the Market Mechanism for Successful Post-quake Reconstruction WAKASUGI Ryuhei, FF The Short-term Impact of the Great East Japan Earthquake on Energy Supply and Demand in Japan: An observation and analysis of changes in energy supply and demand in March 2011 KAINOU Kazunari, F The Short-term Impact of the Great East Japan Earthquake on Household Consumption Expenditures by Region and Item: An analysis of post-earthquake reconstruction and voluntary cutbacks in consumption KAINOU Kazunari, F Japan's Recovery by Removing Borders and Decentralization: From a spatial economics perspective
FUJITA Masahisa, President & CRO Japan's Growth Strategies: After the Great East Japan Earthquake MORIKAWA Masayuki, VP
Ten Contributed Articles
Among Ten articles, six were contributed for Keizai Kyoshitsu of Nihon Keizai Shimbun.
Three Roundtable Discussion Series
Overcoming the Catastrophic Earthquake and Passing on Japan's Manufacturing Competence to
the Next Generation SHIGA Toshiyuki (COO, Nissan Motor Co., Ltd.)
Urban Reconstruction that Takes Full Account of the Wishes of those in the Disaster-affected Areas HIGUCHI Takeo (Chairman and CEO, Daiwa House Industry) The Creation of a Social Infrastructure that Accepts the Freedom of Workers is Essential
NAMBU Yasuyuki (CEO, Pasona Group)
Fifteen BBL Seminars
Beyond Reconstruction: Can Japan achieve miraculous growth again? TODO Yasuyuki, FF Are There Any Lessons from the Past Natural Disasters? —Economic recovery and livelihood rehabilitation
from the Great East Japan Earthquake SAWADA Yasuyuki, FF
The Earthquake and Genba [Manufacturing Site] Oriented National Policies
FUJIMOTO Takahiro (Professor, The University of Tokyo) For more information, please see BBL Seminars on Page 58.
Nine New Research Projects in connection with the Great East Japan Earthquake
<International Trade and Investment Program>
Study of the Creation of the Japanese Economy and Trade and Direct Investment
Project Leader: WAKASUGI Ryuhei, FF/TODO Yasuyuki, FF
<International Macroeconomics Program>
East Asian Production Networks and Global Imbalances Project Leader: Willem THORBECKE, SF
< Regional Economies Program>
Studies on the Structure of Japanese Economic Space and Japanese Supply Chains Sustaining Growth under Globalization and Disaster Risks Project Leader: HAMAGUCHI Nobuaki, FF Development Policies for Robust Regional Economies, Learned from the Great East Japan Earthquake of
2011 Project Leader: OKUMURA Makoto, FF
Sustainable Regional Development: New industrial clusters and division of functions
Project Leader: NAKAMURA Ryohei, FF
<Raising Industrial and Firm Productivity Program>
Economic Impact of the Tohoku Earthquake: An analysis based on the Japan Regional Industrial
Production Database Project Leader: TOKUI Joji, FF
< New Industrial Policy Program>
Economic Analysis of Environmental, Energy, and Resource Strategies Following the Great East Japan
Earthquake Project Leader: MANAGI Shunsuke, FF
An International Comparative Study of Power Supply Liberalization Project Leader: HATTA Tatsuo, FF
<Special Projects>
Research on Efficient Corporate Financing and Inter-firm Networks Project Leader: UESUGI Iichiro, FF
Three RIETI Policy Symposiums
Toward Strengthening Industrial Competitiveness Following the Great East Japan Earthquake: Efforts by the industrial sector and policy response
Toward Sustainable Economic Growth Following the Great East Japan Earthquake : Restructuring of the economic infrastructure and policy response
Pay and Benefits System Reform and Post-3/11 Labor and Employment Policy
Note: Titles and affiliations are current as of the time of the events.
