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24.08.2017
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: Arslanalp, M. S., & Botman, D. P., 2015

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: Bank of Japan, 2017

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: Buckland et al., 2016

, - . , . , , 8%, , , - 15% Mogi, C., & Taniguchi, T. Negative Rates Push Japan Banks From JGBs Toward Foreign Assets. // Bloomberg, 16 March 2016: http://www.bloomberg.com/news/articles/2016-03-15/negative-rates-push-japan-banks-from-jgbs-toward-foreign-assets. , , . , , Bank of Japan. Comprehensive assessment P. 12.. : - , - . , 2016 . 780,2 . , 28% Ibid. P. 33.. , . , "Bloomberg" 2016 ., , 10 11 , 8 Mogi, C., & Taniguchi, T. Negative Rates. , . , : , Kuroda, H. The Battle. ( , " ") , , , , Bank of Japan. Comprehensive assessment P. 13.. 嗧Ԏ, m, {CO. ʓIɘa̋sݏoւ̌ // t{oώЉuoϕ́v . 2017. No 193. P. 178., , , . , .

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, . , Fasano-Filho et al (2012) Fasano-Filho, M. U., Wang, M. Q., & Berkmen, P. Bank of Japan's quantitative and credit easing: Are they now more effective. // IMF Working Paper. 2012. No. 12. P. 8-9., 1998-2010 . , 2% ( 10 . ), , 1,8 .. 0,4 .. . , , 5 .. 1 .. . , 10%. .

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. Ueda Ueda, K. The effectiveness of non-traditional monetary policy measures: The case of the Bank of Japan. // Japanese Economic Review. 2012. No. 63(1). P. 20. , 2010 . : . , ; 2016 ., , .

FFWB Fasano-Filho, M. U., Wang, M. Q., & Berkmen, P. Bank of Japan's P. 8. , 2% 0,6 .., 5 .. . Yoshino Taghizadeh-Hesary Yoshino, N., & Taghizadeh-Hesary, F. Effectiveness of the easing of monetary policy in the Japanese economy, incorporating energy prices. // Journal of Comparative Asian Development. 2015. No. 14(2). P. 241., - , . 2002-2014 . , IS . , 2002 ., , , . , , , , , . : , .

, , . , , , , Bank of Japan. Comprehensive assessment P. 4.. , , 2015 . (1,9%) (0,0%) , , , 0,7 .., , , , , - . , , , , , , , , Kuroda, H. Quantitative and qualitative P. 3.. 0,3-1,5 .. 2015 . Bank of Japan. Comprehensive assessment P. 26-27..

, , - . Fasano-Filho et al (2012) Fasano-Filho, M. U., Wang, M. Q., & Berkmen, P. Bank of Japan's P. 12. ; Ueda Ueda, K. The effectiveness P. 20., . , , . , , Bank of Japan. Comprehensive assessment P. 10. 2000-, . , , .

, , , ; , . , . , , 2009 . 2012 . 375 . , 2016 . - Brexit, Meakin, L., & Ward, J. BOE's Haldane defends bond-buying program for post-Brexit boost. // Bloomberg, 19 October 2016: https://www.bloomberg.com/news/articles/2016-10-19/boe-s-haldane-defends-bond-buying-program-for-post-brexit-boost (date of access: 7.04.2017).. , , , 9 Lehman Brothers, C. 9 2017 . 60 . , , Skolimowsky, P. ECB keeps bond-buying, rates unchanged amid inflation flare-up. // Bloomberg, 9 March 2017: https://www.bloomberg.com/news/articles/2017-03-09/ecb-keeps-bond-buying-rates-unchanged-amid-inflation-flare-up (date of access: 7.04.2017).. , , , , , .

, . -, , , , . , , 2014 ., 2,7% Federal Reserve Economic Data, Consumer Price, Nikkei 14,7% Yahoo Finance, Nikkei 225. https://finance.yahoo.com/quote/%5EN225/history?period1=1333573200&period2=1491339600&interval=1mo&filter=history&frequency=1mo (date of access: 7.04.2017).. , , . -, . , , , 2016 ., 39,3% 55 Index Mundi, Japan Demographic Profile 2016. http://www.indexmundi.com/japan/demographics_profile.html (date of access: 7.04.2017)., . , ; , , . -, , , .

, . . , , , 2000-, , . ., & , . . . 23.. , , : , 2016 . 21% Bank for International Settlements. Central bank survey. Foreign exchange turnover in April 2016. 2016. P. 5. . , , - , . , ; , , . , , 1990- , , , , . ., & , . . C. 19.. .

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: International Trade Center, 2017

. 11. , 2016 ., . .

: International Trade Center, 2017

2016 . International Trade Center, List of importing markets for a product exported by Japan: http://www.trademap.org/tradestat/Country_SelProductCountry_TS.aspx?nvpm=1|392||||TOTAL|||2|1|1|2|2|1|2|1|1 (date of access: 13 April 2017) (25,8%), (4,1%), (3,8%), (3,3%), (2,9%)

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: International Trade Center, 2017

. 13. , 2012-2016 .

: International Trade Center, 2017

, . , . . - . 167.. . , 18,2% 8,1% International Trade Center, Bilateral trade between Japan and Association of South-East Asian Nations (ASEAN): http://www.trademap.org/tradestat/Bilateral_TS.aspx?nvpm=1|392|||24|TOTAL|||2|1|1|1|2|1|1|1|1 (date of access: 13 April 2017) 18,3% 19,4% , , . (, ).

- . , , 2011 ., -1 . 2011-2015 . 2014 . . 2008 . 6,2%, - 79,5% International Trade Center, List of partners markets from Asia for a product commercialized by Japan: http://www.trademap.org/tradestat/Country_SelProductCountry_TS.aspx?nvpm=1|392|||20|TOTAL|||2|1|1|3|2|1|2|1|1 (date of access: 13 April 2017). : , .

IMF. Regional economic outlook. Asia and Pacific. // World economic and financial surveys . 2015. P. 101.. 2014 . ( , ) 414 . . UNCTAD. World Investment Report 2016. Investor nationality: policy challenges. // United Nations publication. 2016. P. 57. , : 2009 . 264 . . 34817 . . 2014 . 32187 - 2015 . (13,0% 9,0% ) Ibid. P. 58..

, (, ). , , , IMF. Regional economic... P. 95. (. 14). 2013 . 24% ( , 60%, , ) Ibid. P. 95.. , , : 13% ( 31%) Ibid. P. 97..

. 14. , 2013 .

: IMF, 2015

2013 . 13%, , ; 40% PwC. Forging the new regional powerhouses: Strategies for success in Southeast Asia. // Pwc. 2013. P. 10.. , 70% ; 10%. : , , (, 2013 . , , 60 . ., - 50 . ., . 15). 13% 2001 . 30% 2013 . IMF. Regional economic... P. 96. , , 25% 2013 . (. 16). 2016 . 17,98%, - 15,47% Bank of International Settlements, Summary of foreign claims and other potential exposures (ultimate risk basis), by nationality of BIS reporting bank: http://www.bis.org/statistics/consstats.htm (date of access: 13 April 2017). , .

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: PwC, 2013

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: IMF, 2015

. , ; 2016 . 332,77 . . IMF Data, Currency Composition of Official Foreign Exchange Reserves: http://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4 (date of access: 23 April 2017) (3,8%). , , , , . , : , , , Rajaguru, G., Khalid, A. M., & Barbera, F. It's not yen, euro or koala bloc: Greenback is still dominant in East Asia. // Australian Journal of Management. 2014. No 39(4). P. 549..

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. , Chen et al. Chen, Q., Filardo, A. J., He, D., & Zhu, F. International spillovers of central bank balance sheet policies // BIS Paper. 2012. No. 66p. P. 244. event studies , , , , , , , ; , .. 2001-2006 . ( 100) - -15,45 -18,99 .. , - 2,87%, - 0,33%. , 2008-2010 . . 2010 . 2011 . ( ) -1,47, -2,13, -0,63 -0,12 . , , : , , , . , ; , ; , . IMF. Japan. Spillover report for the 2011 Article IV Consultation and Selected Issues // IMF Country Report No 11/183. 2011. P. 17., 2011 ., , , .

World Bank. Global Economic Prospects, Volume 7. // World Bank. 2013. P. 23. , 2012-2013 . 21%, , 1,7% 3,7% . , . , 2015-17 . 330 . . Arslanalp, M. S., & Botman, D. P. Portfolio rebalancing P. 18.. 47 , , ( - ), 52 - ( ).

, , . , event study , , , . , : , . , .

, IMF. Japan. Spillover report P. 8. , 1% ( 18 ..) . , 1% 0,25% IMF. 2015 Spillover Report. // IMF Policy Papers. 2015. P. 7.. , ( , 0,6%), . 2.3 , , , , .

, 2011 . , : 0,1% IMF. Japan. Spillover report P. 18.. Ree, J., Hong, G. H., & Choi, S. Should Korea Worry about a Permanently Weak Yen? // IMF Working Paper. 2015. No. 15/158. P. 29. . , . cp. iZ̐Vւ̉e: ێ{ړɔXNƋK̉ۑ. // ٍی. 2016. No. 28-2. P. 85-117. . , , . .

Ganelli and Tawk (2016) Ganelli, G., & Tawk, N. Spillovers from Japan's Unconventional Monetary Policy to Emerging Asia: a Global VAR approach. // IMF Working Paper. 2016. No 16/99. P. 1-32.. , , , , , , . , , , , . , , , , , , , ; , , , . , , , ( ). 2000-14 . , . , ; , 2-2,5%, . ( , , , ). - . 10% 15% , . .

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