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Sultonov Mirzosaid

    Department of Global　Innovation　Studies　Professor
    Center for Global Innovation Studies　Researcher
    Course of Global Innovation Studies　Professor
Last Updated :2025/04/24

Researcher Information

Degree

  • PhD（2013/03 Kobe University, Graduate School of Economics ）

Research funding number

  • 00761016

ORCID ID

J-Global ID

Research Interests

  • International Economics, International Finance, Globalization, Financial Markets, Energy Market   

Academic & Professional Experience

  • 2022/04 - Today  Toyo UniversityFaculty of Global and Regional Studies, Department of Global Innovation StudiesProfessor
  • 2018/04 - 2022/03  Tohoku University of Community Service and ScienceGraduate School of Community Service and ScienceProfessor
  • 2018/04 - 2022/03  Tohoku University of Community Service and ScienceInternational Liberal Art CourseProfessor
  • 2015/04 - 2018/03  Tohoku University of Community Service and ScienceGraduate School of Community Service and ScienceAssociate Professor
  • 2015/04 - 2018/03  Tohoku University of Community Service and ScienceInternational Liberal Art CourseAssociate Professor
  • 2013/04 - 2015/03  Kobe UniversityGraduate School of EconomicsPost-doctoral Fellow
  • 2013/04 - 2015/03  Kobe UniversityFaculty of Economics
  • 2014/09 - 2014/12  Osaka Gakuin UniversityInternational Exchange ProgramPart-time Lecturer
  • 2001/10 - 2008/03  Japan Broadcasting CorporationInternational DivisionResearcher in Central Asia (p.t.)
  • 2001/09 - 2008/03  Academy of Sciences of the Republic of TajikistanResearch Institute of EconomyResearcher

Education

  • 2009/04 - 2013/03  Kobe University  Graduate School of Economics  PhD
  • 2008/04 - 2009/03  Kobe University  Graduate School of Economics  Research Student
  • 1996/09 - 2001/06  Institute of Entrepreneurship and Service (International University of Tourism and Entrepreneurship of Tajikistan)  World Economy  Five-year university

Association Memberships

  • Japan Economic Policy Association   Western Economic Association International   Japan Association for Comparative Economic Studies   

Published Papers

Books etc

  • The macroeconomics of remittance inflows: The case of Tajikistan
    Mirzosaid Sultonov (Single work)Kobe University 2013

Conference Activities & Talks

  • Geothermal Energy in Tajikistan: A Path to Sustainable Heating, Energy Diversification, and Climate Change Adaptation
    16th Global Conference on Business and Social Sciences, GCBSS2024, Kuala Lumpur, Malaysia  2024/09  Oral presentation
  • Sectoral Resilience: Japanese Stock Markets Amidst the 2008 Financial Crisis
    Sultonov; Mirzosaid
    2023 Asia-Pacific Conference on Economics and Finance, Singapore  2023/12  Oral presentation
  • Direct and indirect effects of sanctions on the Russian economy
    Mirzosaid Sultonov
    The 63rd Annual Conference of the Japan Association for Comparative Economic Studies, JACES, Yokohama  2023/06
  • Global Financial Crisis, Global COVID-19 Crisis and Japanese Sectoral Stocks
    Sultonov, Mirzosaid
    WEAI 17th International Conference, Melbourne, Australia, April 11–15, 2023  2023/04  Oral presentation
  • The impact sanctions imposed on Russia on other CIS countries
    Sultonov, Mirzosaid
    14th Global Conference on Business and Social Sciences 2022, Global Academy of Training and Research, Penang, Malaysia  2022/12  Oral presentation
  • Globalization, development, regional interconnectedness and sanctions: Case of the Commonwealth of Independent States
    Sultonov, Mirzosaid
    21st International Conference of Japan Economic Policy Association, Kobe, Japan  2022/11  Oral presentation
  • External shocks and volatility overflow among the exchange rate of the yen, Nikkei, TOPIX and sectoral stock indices
    Sultonov; Mirzosaid
    20th International Conference of the Japan Economic Policy Association, Tokyo, Japan  2021/11  Oral presentation
  • Japan’s trade and investment prospects in Central Eurasia
    Sultonov; Mrzosaid
    12th International Convention of Asia Scholars, Kyoto, Japan, August 24-28, 2021  2021/08  Oral presentation
  • Content-based language teaching in international liberal arts education
    Sultonov M; Timothy B; J. Arskaya
    The Asian Conference on Education and International Development (ACEID2021), Tokyo, Japan, March, 2021  2021/03  Oral presentation
  • International news and relationship between exchange rate of yen, TOPIX index and sectoral stock indices
    Sultonov; Mirzosaid
    Global Conference on Advances in Business and Social Sciences, GCABSS, Tsuruoka, December 5-6, 2020  2020/12  Oral presentation
  • Application of content-based language teaching methodology in international liberal arts education
    Sultonov M; Bunting. T; Arskaya, J
    Global Conference on Advances in Education and Research, GCAER, Tsuruoka, November 21-22, 2020  2020/11  Oral presentation
  • The impact of international sanctions on Russian financial markets
    Sultonov; Mirzosaid
    The 19th International Conference of the Japan Economic Policy Association, JEPA, Hiroshima, November, 2020  2020/11  Oral presentation
  • The relationship between remittances and exchange rate: Case of Tajikistan and Kyrgyz Republic
    Sultonov; Mirzosaid
    Global Conference on Advances in Business and Social Sciences, GCABSS, Tokyo, December, 2019  2019/12  Oral presentation
  • The impacts of international political and economic events on Japanese financial markets
    Sultonov; Mirzosaid
    The 18th International Conference of the Japan Economic Policy Association, JEPA, Tokyo, November, 2019  2019/11  Oral presentation
  • The Response of Japan’s financial markets to information on important changes in the international economy and policy
    Sultonov; Mirzosaid
    The 94th Annual Conference of WEAI, San Francisco, CA, July, 2019  2019/07  Oral presentation
  • Oil price effects on exchange rate and price level: The case of South Korea
    Sultonov; Mirzosaid
    The 16th International Conference on Economics and Social Sciences, ICESS, Tokyo, Japan, March, 2019  2019/03  Oral presentation
  • Causality relationship between remittances and real effective exchange rate: The case of the Kyrgyz Republic
    Sultonov; Mirzosaid
    The 17th International Conference of the Japan Economic Policy Association, JEPA, Tokyo, October, 2018  2018/10  Oral presentation
  • The impact of crude oil price fall on financial markets of advanced East Asian countries: Evidence from MGARCH-DCC and CCF approaches
    Sultonov; Mirzosaid
    The 16th International Conference of the Japan Economic Policy Association, JEPA, Okinawa, November, 2017  2017/11  Oral presentation
  • An empirical analysis of Japanese stock and foreign exchange markets' responses to “Brexit” and “Trump Shock”
    Sultonov; Mirzosaid
    International Conference on Japan and Japan Studies, IICJ 2017, Kobe, June, 2017  2017/06  Oral presentation
  • Transition, migration, remittances and responses to external shocks: Evidence from Tajikistan and the Kyrgyz Republic
    Sultonov; Mirzosaid
    Second World Congress of Comparative Economics, 2nd WCCE, St. Petersburg, June, 2017  2017/06  Oral presentation
  • Remittances and linkage between foreign exchange markets: Evidence from the CIS countries
    Sultonov; Mirzosaid
    The 15th International Conference of the Japan Economic Policy Association, JEPA, Hakodate, Hokkaido, October, 2016  2016/10  Oral presentation
  • Macroeconomic consequences of dependency on international remittances: The cases of Tajikistan and the Kyrgyz Republic
    Sultonov; Mirzosaid
    International Conference on Asian Studies, ICAS 2016, Toronto, June, 2016  2016/06  Oral presentation
  • The Russian crisis and changes in the dynamic correlation among foreign exchange, stock and commodity markets
    Sultonov; Mirzosaid
    The XVII April International Academic Conference on Economic and Social Development, Moscow, April, 2016  2016/04  Oral presentation
  • Dynamic conditional correlation and causality-in-variance among the exchange rates of the ASEAN and major economies of Asia
    Sultonov; Mirzosaid
    The 12th International Conference of WEAI, Singapore, January, 2016  2016/01  Oral presentation
  • Dynamic linkage between stock markets of Russia and Kazakhstan: Effects of ruble devaluation and energy price fall
    Sultonov; Mirzosaid
    The 14th International Conference of the Japan Economic Policy Association, JEPA, Tokyo, November, 2015  2015/11  Oral presentation
  • Macroeconomic stability in remittance-dependent economies
    Mirzosaid Sultonov
    The 13th International Conference of the Japan Economic Policy Association, JEPA, Tokyo  2014/11
  • Remittances and the household expenditures on health and education in Tajikistan
    Mirzosaid Sultonov
    The 12th International Conference of the Japan Economic Policy Association, JEPA, Sapporo  2013/10
  • The macroeconomic impact of migrant remittances: Case of Tajikistan
    Mirzosaid Sultonov
    The 53rd Annual Conference of the Japan Association for Comparative Economic Studies, JACES, Niigata  2013/06
  • Labour migration and import demand: The impact of remittance inflows for the case of Tajikistan
    Mirzosaid Sultonov
    The 11th International Conference of the Japan Economic Policy Association, JEPA, Nagoya  2012/10

Awards & Honors

  • 2020/05 Japan Economic Policy Association 2019 Academic Award
     “The causality relationship between remittances and the real effective exchange rate: The case of the Kyrgyz Republic” 
    受賞者: Sultonov;Mirzosaid

Research Grants & Projects

  • 地中熱・地下水熱利用による脱炭素型熱エネルギー供給システムの構築
    Japan Science and Technology Agency：国際科学技術共同研究推進事業・地球規模課題対応国際科学技術協力プログラム
    Date (from‐to) : 2021 -2026 
    Author : 稲垣文昭; スルトノフ; 川村洋平; 北原格; 内田洋平et al.
  • 日本学術振興会：科学研究費助成事業
    Date (from‐to) : 2021/04 -2024/03 
    Author : Mirzosaid Sultonov (Co-investigator)
     
    当該年度においては、研究分担者間において二度研究会を実施し、これまでの既に実施してきた『「民」の経済制裁の発生要因に関する研究』（2013年度～2016年度）、『経済制裁の問題点と課題―対抗制裁の罠』（2017年度～2019年度）における研究成果の再確認を行い、新たな経済制裁研究における認識統合のスタートダッシュともいえる研究を行った。 即ち、これまでの経済制裁を経済制裁を時間軸・空間軸・アクター軸の観点からとらえなおすことを目的とする。即ち、先行研究などでは等閑視される傾向にあった経済制裁の性質自体の「変容」に関し、制裁を包括的枠組としてとらえることとし、そのダイナミクスに関して検討を行い、「制裁」の全体像を提示し、従来の研究の陥穽を補い、超越するものである。本研究はこれまでの制裁研究を受け継ぎ、さらに発展させていくものである。その為に「時間」「空間」「アクター」の三点を軸とし、分析を進めていく旨、研究者間で認識の統一を図り再確認した、 特に今年二月にはウクライナ情勢の変化に伴い、ロシアとNATO諸国や日本などの間で制裁が相互に実施され、これまでの経済制裁を巡る国際政治情勢とは位相を異にする新たな経済制裁がなされるようになってきた。従って、本研究においてもその新たな情勢に対処すると同時に、更に研究を深化させるべく、研究会を実施した。この研究報告の成果に関しては、2022年度にウェビナーを開催することで、社会還元を図るものである。
  • Japan Society for the Promotion of Science：Grants-in-Aid for Scientific Research
    Date (from‐to) : 2019/04 -2022/03 
    Author : Sultonov Mirzosaid (Principal Investigator)
     
    I conducted my research on the impact of news about important political and economic events on Japanese financial markets. I examined how news about the results of the Brexit referendum (BR) and the United States presidential election (USE) in 2016 affected foreign exchange rates and stock market indexes. I employed the exponential generalised autoregressive conditional heteroscedasticity (EGARCH) model, the cross-correlation function, and the daily logarithmic returns of JPY, Nikkei, TOPIX and the TOPIX components in estimations. This research revealed evidence of statistically significant changes in exchange rates and stock market indexes within two weeks after the BR and USE, and demonstrated how the impact of news about the results of BR and USE might spread among the variables indirectly within a week.

Teaching Experience

  • Global Careers (Undergraduate course)
    Toyo University
  • Japanese Corporations in Asian Markets (Undergraduate course)
    Toyo University
  • International Business (Undergraduate course)
    Tohoku University of Community Service and Science
  • Money, Banking and Financial Markets (Undergraduate course)
    Toyo University
  • Global Financial Crisis and its Consequences (Undergraduate course)
    Toyo University
  • Fundamental Conditions for Economic Development (Undergraduate course)
    Toyo University
  • New Perspectives on Globalization (Undergraduate course)
    Toyo University
  • Global Economic Affairs (Undergraduate course)
    Tohoku University of Community Service and Science
  • Asian Economy (Undergraduate course)
    Tohoku University of Community Service and Science
  • International Economics (Undergraduate course)
    Tohoku University of Community Service and Science
  • Chinese Economy (Undergraduate course)
    Tohoku University of Community Service and Science
  • International Relations Law and Economy (Undergraduate course)
    Tohoku University of Community Service and Science
  • Financial Markets and Global Economy (Graduate course)
    Tohoku University of Community Service and Science
  • Industrial Organization (Graduate course)
    Tohoku University of Community Service and Science
  • Asian Finance (Graduate course)
    Tohoku University of Community Service and Science
  • Industrial Organization (Undergraduate course)
    Tohoku University of Community Service and Science
  • Asian Regional Economy (Graduate course)
    Tohoku University of Community Service and Science
  • International Economics (Graduate course)
    Tohoku University of Community Service and Science
  • International Cooperation (Undergraduate course)
    Tohoku University of Community Service and Science
  • Economic Policy (Undergraduate course)
    Tohoku University of Community Service and Science
  • Economics in English (Open to graduate and undergraduate)
    Kobe University
  • Economic Development of Japan (Open to Graduate and Undergraduate)
    Osaka Gakuin University

Committee Membership

  • Japan Association for Comparative Economic Studies
  • Western Economic Association International
  • Japan Economic Policy Association

Other link

researchmap