博士前期課程修了生(2024年度)
Javkhlan Ganbayar
1. Why did you decide to study at SU graduate school?
One of the main factors influencing my decision to study at SU was the presence of highly reputable faculty members with extensive experience not only in academia but also in policy-oriented research. I was particularly impressed by their research, which addresses real-world economic challenges in developing countries. Additionally, I had found the high level of support provided by the International Office and the rich opportunities to experience Japanese culture at SU. During my time at SU, I developed valuable professional skills and significantly expanded my global network. I formed lifelong friendships with students from diverse cultural and academic backgrounds. Studying at SU has truly enriched my life, broadening both my personal and professional horizons through meaningful connections with both Japanese and international students.
2. What kind of research topic did you conduct your research on (a brief description is fine)?
Policymakers in resource-rich countries frequently face substantial fluctuations in fiscal revenue and need to design appropriate mechanisms to manage and stabilize fiscal dynamics. Therefore, a comprehensive assessment of fiscal policy effectiveness is essential for informed policy formulation. In my research, I focused on evaluating the effectiveness of fiscal policy in supporting macroeconomic stabilization in resource-rich economies. To offer practical insights, my research explores the fiscal frameworks and policy outcomes in resource-rich, small open economies through a series of empirical studies. One key finding from my work is that fiscal measures aimed at enhancing the supply side--particularly through increased public investment and reduced labor taxation--tend to yield more favorable outcomes for long-term macroeconomic stability than demand-side measures such as household subsidies, lower consumption taxes, or increased government consumption.
Furthermore, I also conducted an analysis of Natural Resource Funds (NRFs) across 41 resource-rich countries to evaluate how effectively these funds have achieved their designated objectives. My study categorizes NRFs into three types--stabilization, investment, and savings--and finds that governance quality is a critical factor in the success of each fund type. High levels of governance significantly improve the likelihood that these funds will fulfill their intended purposes.
3. How the research progressed?
I had the honor of being mentored by Professor Hiroyuki Taguchi, a highly respected economist with extensive experience at the Cabinet Office of the Government of Japan, where he was responsible for shaping national economic policies, and served as the Vice President of the Policy Research Institute at the Ministry of Finance, Japan. His rare combination of practical expertise and academic insight greatly enriched my learning. Although the core direction of my research remained steady, his deep knowledge and experience helped me explore the subject more systematically. From formulating research questions to publishing in academic journals, I benefited from consistent guidance through regular meetings and direct communication. He provided support at every stage - research proposal development, methodology selection, data analysis, preliminary findings, workshops, and journal submission. As a result, I have acquired substantial knowledge in my field during this academic journey.
4. What have you learned from your research experience?
Throughout my research, I have developed strong analytical and empirical skills by conducting various studies assessing real-world policy issues. Estimation techniques and simulation tools which I applied and mastered through my research have significantly strengthened my ability to evaluate policy effectiveness using both theoretical frameworks and practical evidence. Moreover, the research enhanced my capacity for critical thinking, policy analysis, and data interpretation - skills that are essential for making sound economic and development policy. I also gained valuable insights into the importance of governance in achieving fiscal policy goals, which deepened my appreciation for the institutional dimensions of economic stability. Therefore, this research journey has not only enriched my academic knowledge but also prepared me to engage with practical policy challenges, making meaningful contributions to the field of development economics and public finance.