On May 16, 2026, Mr. MATSUBARA Ryotaro, Deputy Director at JBIC, presented a paper at the 2026 Spring Meeting of the Japan Society of Monetary Economics, held at Toki Messe, Niigata Convention Center, with Associate Professor SHINO Junnosuke of Waseda University serving as the discussant.
In the presentation, he reported the results of a quantitative analysis using machine learning methods applied to the stock markets of Japan and South Korea. The analysis shows that while global factors exert a significant influence on stock prices in both countries, there are notable structural differences in their price formation mechanisms: domestic financial factors play a relatively larger role in Japan, whereas external demand factors have a stronger impact in South Korea.
JBIC is committed to contributing to the sound development of the Japanese and international economy and society by conducting research and analysis at the forefront of international finance, and by continuously accumulating knowledge on global economic and financial developments. Leveraging these insights, JBIC will continue to actively disseminate information through a broad range of channels.
Please see the “Paper Abstract”.
