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Message from the Head of CEI


The Center for Economic Institutions (CEI) is affiliated with the Institute of Economic Research, Hitotsubashi University, and was established in April 2000 with the aims of conducting systematic, basic research on economic institutions, particularly those in Japan and Asian countries, and becoming the center of an international network for this purpose. Financial systems and corporate governance in Japan and Asia were selected as our initial research topic. Accordingly, CEI has promoted research straddling the fields of finance theory, new institutional economics, and development economics, obtaining satisfactory research results and completing the first stage in fiscal year 2005/2006.

CEI has begun a new research direction and added two topics in April 2006: Comparison of Enterprise Performance in East Asia, and Research into Family-Owned Enterprises. In April 2008, another topic was added: Empirical Analysis of the Dynamics of Firms and Industries. Along with establishing, maintaining, and measuring the productivity of databases on corporate governance and enterprise systems in Japan and Asia, CEI has built up a research network.
In April 2010, as CEI’s research activities entered a new decade, there were major changes among our faculty members, and a new research topic was added: Role of Institutions in Economic Development in Low-Income Developing Countries in Asia and Africa. In connection with this, the Grant-in-Aid for Scientific Research (S) project titled Poverty Reduction, Institutions, Markets, and Policies in Developing Countries: Toward a Theory of Comparative Economic Development (PRIMCED) (project leader: Kurosaki Takahashi) was conducted for five years between fiscal years 2010 and 2014 (http://www.ier.hit-u.ac.jp/primced/).
Moving forward to April 2016, we decided to make major project-based changes to our faculty once more and to establish a new principal research topic: Comparative Institutional Analysis of Economic Systems in Emerging Countries. The development process in emerging countries suggests the return of an era in which population size will have a major impact on size of their economies. This is based on the perception that it is necessary to grasp more accurately the market structure in the economies being studied and the systems and organizations that support it in order to gain a comprehensive understanding of emerging countries such as Russia, China, and India, where development in the form of a direct link between the sizes of the population and the economy has been the focus of attention in recent years. Similarly, such understanding is needed in emerging countries in South Asia and Africa.
At the same time, we at CEI consider continuity in research to be important. The results of CEI’s research over the past ten years have been accumulated through the publication of many books, journal articles, and working papers; the creation of a network that extends to the global level; and the construction of independent databases on companies in Japan and Asia. By promoting the maintenance and updating of these research results and linking them seamlessly with our new research topics, we are committed to our goal of functioning and developing as a common research center and hub for a community of researchers in Japan and overseas. 
We would greatly appreciate your further support for future activities at CEI. 
Kazuhiro Kumo
CEI Research Director