Research

REFEREED ARTICLES:

• Chinese Housing Market and Bank Credit, Journal of Asian Economics, Vol. 76, October 2021, 101361 (with Masaya Sakuragawa and Mengyuan Zhou), Online Appendix.

• Local Banking Systems and Sensitivity of Capital Inflows to Global Factor, Economics Bulletin, Vol. 37, Issue 3, pp.1861-1872, 2017.  

• Domestic Credit Growth, International Capital Inflows, and Risk Perception in Global Markets, Economics Bulletin, Vol. 37, Issue 2, pp. 631-636, 2017.

• The Impact of International Capital Inflows on Asset Price and Leverage in the US, Review of Monetary and Financial Studies, Vol. 39, 2017 (in Japanese)

• Risk-taking Channels and Capital Inflows into the US Treasuries, Economics Letters, 136, pp.133-136, 2015. 

INVITED BOOK CHAPTERS:

• Capital Flows in ASEAN, Chapter 6 of  Economic Cooperation in East Asia, Edited by Tomoo Kikuchi and Masaya Sakuragawa, RSIS Monograph No. 35, 2019.

WORKING PAPERS:

• House Price and Credit Cycles: Effects of Global Liquidity and Risk Perception, KGRI Working Papers, No. 9, 2017. (the latest version is here, updated in November 2019)

• Credit Expansion and Boom-bust Cycle of Housing Prices, with Masaya Sakuragawa. (A former version of this paper was circulated under the title “Credit Expansion, Housing Prices, and Non-linearity")

• Does Foreign Debt Contribute to Economic Growth?, with Tomoo Kikuchi (submitted).

• Credit-induced Boom and Financial Development: Difference-in-differences Approach, with Masaya Sakuragawa (submitted)

• ASEAN's Portfolio Investment in a Gravity Model, with Kikuchi Tomoo (submitted)

• Credit Supply and Housing Prices: Evidence from Banking Deregulation in China, with Masaya Sakuragawa and Mengyuan Zhou

WORKS IN PROGRESS:

• Dynamic Effects of Global Push and Domestic Pull Factors on Gross Capital Inflows 

• Does Foreign Equity Investment Contribute to Economic Growth?, with Kikuchi Tomoo, Duy Van Dang, and Quang Trung Nguyen

• Housing price and bank credit: evidence from city-level data (Tentative title), with Masaya Sakuragawa and Mengyuan Zhou

PRESENTATIONS (including scheduled presentations):

• Credit Supply and Housing Prices: Evidence from Banking Deregulation in China, 2024 Singapore Economic Review Conference, Singapore.

• Credit Supply and Housing Prices: Evidence from Banking Deregulation in China, 2024 Spring Meeting of Japanese Economic Association, Tokyo Keizai University, Japan.

• Credit Supply and Housing Prices: Evidence from Banking Deregulation in China, 2024 Spring Annual Meeting of Japan Society of Monetary Economics, Saitama University, Japan.

• Does Foreign Equity Investment Contribute to Economic Growth?, 2023, International Conference on International Capital Flows and Economic Development, GSAPS, Waseda University

• Credit expansion and boom-bust cycle of housing prices, 2022, NCU Modern Economics Seminar.

• Credit expansion and boom-bust cycle of housing prices, 2022, Applied Economics Workshop, Institute for Economic Studies, Keio University

• Gravity-Defying Property of ASEAN's Portfolio Investment, 2022, GSAPS, Waseda University

• Credit-induced Boom and Financial Development: Difference-in-differences Approach, 2022, NCU Modern Economics Seminar (online).

• Do International Portfolio Flows Contribute to Economic Growth?, 2021, Economics Seminar at the School of Economics, Kwansei Gakuin University.

• Do International Portfolio Flows Contribute to Economic Growth?, 2020, Macro Seminar at the Department of Economics, Korea University.

• Chinese Housing Market and Bank Credit, 2020, Online Workshop for a JAE special issue on “Bubbles in Asian Economies.”

• Credit Expansion and Boom-bust Cycle of Housing Prices, 2020 Spring Meeting of Japanese Economic Association, University of Kyushu, Japan.

• Credit Expansion and Boom-bust Cycle of Housing Prices, 2020 Spring Annual Meeting of Japan Society of Monetary Economics, Chuo University, Japan.

• Chinese Housing Market and Bank Credit, 2020, WEAI 16th International Conference, Shanghai, Fudan University, China (Conference is canceled due to the pandemic of new coronavirus (COVID-19 )).

• Credit Expansion, Housing Prices, and Non-linearity, 2019, University of Hyogo, Japan.

• Exploring Determinants of Housing Prices in Advanced Countries, 2019, APEA Conference, Fukuoka University, Japan.

• Chinese Housing Market and Bank Credit, 2019, Research Consortium, Kwansei Gakuin University, Japan (Poster session).

• House Price and Credit Cycles: Effects of Global Liquidity and Risk Perception, 2018, Australia-Japan Research Centre Seminar, the Australian National University, Australia.

• Chinese Housing Market and Bank Credit, 2018, Keio University.

• Capital Flows in ASEAN, 2017, 2nd CAG-KGRI Conference, Singapore.

• House Price and Credit Cycles: Effects of Global Liquidity and Risk Perception, 2017 Autumn Annual Meeting of Japan Society of Monetary Economics, Japan.

• House Prices, Capital Inflows, and Risk Perception in the Global Financial Cycle, 2017 The Korea Money & Finance Association Annual Conference, Korea.

• Cross-border Banking and Credit Growth in the Global Financial Cycle, International Trade and Finance Association 27th conference, Poland.

• Domestic Credit Growth, International Capital Inflows, and Risk Perception in Global Markets, 2017 Spring Annual Meeting of Japan Society of Monetary Economics, Japan.

• Net Inflows versus Gross Inflows: Which is a Better Predictor of US House Prices? 2016 Autumn Annual Meeting of Japan Society of Monetary Economics, Japan.

• Foreign Private Inflow to U.S. Treasury Bonds and Interest Rates, 2014 Autumn Annual Meeting of Japan Society of Monetary Economics, Japan.

RESEARCH GRANTS:

• Grant-in-Aid for Scientific Research (C), Primary Investigator, Japan Society for the Promotion of Science, Project/Area Number: JP24K04973, FY2024-2026.

• Grant-in-Aid for Scientific Research (B), Co-Investigator, Japan Society for the Promotion of Science, Project/Area Number: JP22H00849, FY2022-2025.

• Grant-in-Aid for Early-Career Scientists, Primary Investigator, Japan Society for the Promotion of Science, Project/Area Number: JP20K13532, FY2020-2023.

• Grant-in-Aid for Research Activity Start-up, Primary Investigator, Japan Society for the Promotion of Science, Project/Area Number: JP18H05711, FY2018-2019.