A Study on Economic Reconstruction, Regional Economic Cooperation and Stabilization of South Eastern Europe

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(1) On the basis of my research trip to Austria, Macedonia and Romania in December 2000. I have written papers on the present situation of South Eastern Europe and the tasks for its stabilization, focusing on Macedonia.(2) Foreign direct investment is keenly needed for the economic reconstruction of South Eastern Europe. An English paper, which made a comparison with Central Eastern Europe in terms of investment climate, was contributed to the bulletin of Khabarovsk State Academy of Economics and Law.(3) In Bosnia and Herzegovina economic reconstruction, Return of refugees and displaced persons to their homeland and reconciliation of nationalities have been successfully proceeding after the Dayton Peace Agreement. However, it is indispensable for SFOR to stay here for a certain period. Also international support from at various levels will be required as before. This point is described in a paper.(4) In FR Yugoslavia (consisting of Serbia and Montenegro) the banking system reform is delayed. Even in 2000 big old banks, which were established before the banking law of 1989, remain to be 'debtors-managed banks'. At present, the recapitalization of the biggest banks and their privatization through direct sale to foreign investors are keenly needed. The research result was published in both Japanese and English(5) It is necessary tor South East European countries to consolidate mutual economic cooperation within the region. At the same time, the improvement of investment climate is required. This point was presented at the international conference "Amadeus"-The EU Enlargement to East European countries, held at the University of Mame-la-Vallee (France) on June 13-14, 2000.(6) My paper on South Eastern Europe are brought together into art English book, which is to be published as Vol.1 of Niigata University Scholar Series in the late March 2003.