Sultonov Mirzosaid
| Department of Global Innovation Studies | Professor |
| Center for Global Innovation Studies | Researcher |
| Course of Global Innovation Studies | Professor |
Last Updated :2026/07/15
■Researcher basic information
Target Resource
Research Interests
■Career
Research History
- Apr. 2022 - Present
Toyo University, Faculty of Global and Regional Studies, Department of Global Innovation Studies, Professor - Apr. 2018 - Mar. 2022
Tohoku University of Community Service and Science, Graduate School of Community Service and Science, Professor - Apr. 2018 - Mar. 2022
Tohoku University of Community Service and Science, International Liberal Art Course, Professor - Apr. 2015 - Mar. 2018
Tohoku University of Community Service and Science, Graduate School of Community Service and Science, Associate Professor - Apr. 2015 - Mar. 2018
Tohoku University of Community Service and Science, International Liberal Art Course, Associate Professor - Apr. 2013 - Mar. 2015
Kobe University, Graduate School of Economics, Post-doctoral Fellow, Post-Doctoral Researcher - Apr. 2013 - Mar. 2015
Kobe University, Faculty of Economics, Lecturer (p.t.) - Sep. 2014 - Dec. 2014
Osaka Gakuin University, International Exchange Program, Part-time Lecturer - Oct. 2001 - Mar. 2008
Japan Broadcasting Corporation, International Division, Researcher in Central Asia (p.t.) - Sep. 2001 - Mar. 2008
Academy of Sciences of the Republic of Tajikistan, Research Institute of Economy, Researcher
Education
- Apr. 2009 - Mar. 2013, Kobe University, Graduate School of Economics, PhD
- Apr. 2008 - Mar. 2009, Kobe University, Graduate School of Economics, Research Student
- Sep. 1996 - Jun. 2001, Institute of Entrepreneurship and Service (International University of Tourism and Entrepreneurship of Tajikistan), World Economy, Five-year university
Committee Memberships
■Research activity information
Awards
Papers
- Trade-growth dynamics in Central Asia: a causal analysis of international trade and GDP interactions
Mirzosaid Sultonov
Journal of Contemporary East Asia Studies, 25 Feb. 2026, [Reviewed]
Lead, Corresponding - Did the stocks of Pfizer and Moderna show abnormal returns different from zero on approval of COVID 19 vaccines by FDA
Nandy Subas; Sussan Fiona; Mirzosaid Sultonov
Jan. 2025, [Reviewed] - Exploring the Macroeconomic Effects of Renewable Energy in Tajikistan: An Empirical Analysis
Mirzosaid Sultonov; Behruz Hasanov; Pirumsho Valizoda; Fumiaki Inagaki
Economies, Apr. 2024, [Reviewed]
Lead, Corresponding - Regional Economic and Financial Interconnectedness and the Impact of Sanctions: The Case of the Commonwealth of Independent States
Mirzosaid Sultonov
Journal of Risk and Financial Management, 29 Nov. 2022, [Reviewed] - External Shocks and Volatility Overflow among the Exchange Rate of the Yen, Nikkei, TOPIX and Sectoral Stock Indices
Mirzosaid Sultonov
Journal of Risk and Financial Management, 19 Nov. 2021, [Reviewed] - The Impact of International Sanctions on Russian Financial Markets
Mirzosaid Sultonov
Economies, 07 Dec. 2020, [Reviewed] - The Impacts of International Political and Economic Events on Japanese Financial Markets
Mirzosaid Sultonov
International Journal of Financial Studies, 08 Jul. 2020, [Reviewed] - The causality relationship between remittances and the real effective exchange rate: the case of the Kyrgyz Republic
Mirzosaid Sultonov
International Journal of Economic Policy Studies, Feb. 2020, [Reviewed] - An empirical analysis of the relationship between remittances and the real effective exchange rate for Tajikistan
Mirzosaid Sultonov
Bulletin of Tohoku Koeki University, 2019 - Remittances, bilateral trade and linkage between foreign exchange markets: Evidence from the Commonwealth of Independent States (CIS)
Mirzosaid Sultonov
International Journal of Economic Policy Studies, Jan. 2019, [Reviewed] - Dynamic Linkages between Japan’s Foreign Exchange and Stock Markets: Response to the Brexit Referendum and the 2016 U.S. Presidential Election
Mirzosaid Sultonov
Journal of Risk and Financial Management, 28 Jun. 2018, [Reviewed] - Oil price effects on exchange rate and price level: The case of South Korea
Mirzosaid Sultonov
Bulletin of Tohoku Koeki University, 2018 - The impact of falling crude oil price on financial markets of advanced East Asian countries
Sultonov, M.
Journal of Reviews on Global Economics, 2018, [Reviewed] - The causality relationship among foreign exchange markets: Evidence from selected ASEAN countries
Mirzosaid Sultonov
Bulletin of Tohoku Koeki University, 2017 - The impacts of the oil price fall on the exchange rates of ASEAN-5: Evidence from the 2014 oil price shock
Sultonov, M.
Economics Bulletin, 2017, [Reviewed] - Interdependence between the exchange rates of the ASEAN and the major economies of Asia
Mirzosaid Sultonov
Bulletin of Tohoku Koeki University, 2016 - The russian financial crisis and workers' remittances to tajikistan and the Kyrgyz Republic
Sultonov, M.
Journal of Reviews on Global Economics, 2016, [Reviewed] - Dynamic conditional correlation and causality relationship among foreign exchange, stock and commodity markets: Evidence from 2014 Russian financial crisis
Sultonov, M.
Economics Bulletin, 2016, [Reviewed] - The Fall of Oil Prices and Changes in the Dynamic Relationship between the Stock Markets of Russia and Kazakhstan
Mirzosaid Sultonov
Journal of Reviews on Global Economics, 31 Jul. 2015, [Reviewed] - The determinants of the duration of migration of Tajikistan's labour migrants in Russia
Mirzosaid Sultonov
Bulletin of Tohoku Koeki University, 2015 - Remittances and Household Expenditures on Health and Education in Tajikistan
Mirzosaid Sultonov
International Journal of Economic Policy Studies, Jan. 2014, [Reviewed] - Labour Migration and Import Demand: The Impact of Remittance Inflows for The Case Of Tajikistan
Mirzosaid Sultonov
International Journal of Economic Policy Studies, Jan. 2013, [Reviewed] - The Macroeconomic Determinants of Remittance Flows from Russia to Tajikistan
Sultonov, M.
Transition Studies Review, 2013, [Reviewed] - Health Expenditure Efficiency in the Commonwealth of Independent States: A Data Envelopment Analysis Approach
Mirzosaid Sultonov
Transition Studies Review, Dec. 2011, [Reviewed]
Books and Other publications
Presentations
- 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, 12 Sep. 2024 - Sectoral Resilience: Japanese Stock Markets Amidst the 2008 Financial Crisis
Sultonov; Mirzosaid
2023 Asia-Pacific Conference on Economics and Finance, Singapore, 14 Dec. 2023 - 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, 04 Jun. 2023 - Global Financial Crisis, Global COVID-19 Crisis and Japanese Sectoral Stocks
Sultonov, Mirzosaid
WEAI 17th International Conference, Melbourne, Australia, April 11–15, 2023, 11 Apr. 2023 - 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, 29 Dec. 2022 - 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, 20 Nov. 2022 - 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, 06 Nov. 2021 - Japan’s trade and investment prospects in Central Eurasia
Sultonov; Mrzosaid
12th International Convention of Asia Scholars, Kyoto, Japan, August 24-28, 2021, Aug. 2021 - 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, Mar. 2021 - 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, 05 Dec. 2020 - 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, 21 Nov. 2020 - 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, Nov. 2020 - 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, Dec. 2019 - 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, Nov. 2019 - 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, Jul. 2019 - 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, Mar. 2019 - 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, Oct. 2018 - 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, Nov. 2017 - 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, Jun. 2017 - 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, Jun. 2017 - 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, Oct. 2016 - 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, Jun. 2016 - 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, Apr. 2016 - 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, Jan. 2016 - 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, Nov. 2015 - Macroeconomic stability in remittance-dependent economies
Mirzosaid Sultonov
The 13th International Conference of the Japan Economic Policy Association, JEPA, Tokyo, Nov. 2014 - 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, Oct. 2013 - 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, Jun. 2013 - 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, Oct. 2012
Teaching Experience
- Goods and Factors Movement in the Globalized World (Graduate course)
Sep. 2024 - Present
Graduate School of Global and Regional Studies, Toyo University - Global Events and Financial Markets Volatility (Graduate course)
Mar. 2024 - Present
Graduate School of Global and Regional Studies, Toyo University - Global Careers (Undergraduate course)
Sep. 2023 - Present
Toyo University - Japanese Corporations in Asian Markets (Undergraduate course)
Sep. 2022 - Present
Toyo University - International Business (Undergraduate course)
Aug. 2022 - Present
Tohoku University of Community Service and Science - Money, Banking and Financial Markets (Undergraduate course)
Jun. 2022 - Present
Toyo University - Global Financial Crisis and its Consequences (Undergraduate course)
Jun. 2022 - Present
Toyo University - Fundamental Conditions for Economic Development (Undergraduate course)
Apr. 2022 - Present
Toyo University - New Perspectives on Globalization (Undergraduate course)
Apr. 2022 - Present
Toyo University - Global Economic Affairs (Undergraduate course)
Apr. 2015 - Present
Tohoku University of Community Service and Science - Asian Economy (Undergraduate course)
Apr. 2015 - Present
Tohoku University of Community Service and Science - International Economics (Undergraduate course)
Apr. 2015 - Present
Tohoku University of Community Service and Science - Chinese Economy (Undergraduate course)
Apr. 2015 - Present
Tohoku University of Community Service and Science - International Relations Law and Economy (Undergraduate course)
Apr. 2019 - Mar. 2022
Tohoku University of Community Service and Science - Financial Markets and Global Economy (Graduate course)
Apr. 2018 - Mar. 2022
Tohoku University of Community Service and Science - Industrial Organization (Graduate course)
Apr. 2017 - Mar. 2022
Tohoku University of Community Service and Science - Asian Finance (Graduate course)
Apr. 2017 - Mar. 2022
Tohoku University of Community Service and Science - Industrial Organization (Undergraduate course)
Apr. 2017 - Mar. 2022
Tohoku University of Community Service and Science - Asian Regional Economy (Graduate course)
Apr. 2016 - Mar. 2022
Tohoku University of Community Service and Science - International Economics (Graduate course)
Apr. 2016 - Mar. 2022
Tohoku University of Community Service and Science - International Cooperation (Undergraduate course)
Apr. 2017 - Mar. 2019
Tohoku University of Community Service and Science - Economic Policy (Undergraduate course)
Apr. 2017 - Mar. 2018
Tohoku University of Community Service and Science - Economics in English (Open to graduate and undergraduate)
Apr. 2013 - Mar. 2015
Kobe University - Economic Development of Japan (Open to Graduate and Undergraduate)
Sep. 2014 - Dec. 2014
Osaka Gakuin University
Professional Memberships
Research Projects
- Construction of a Decarbonized Heat Energy Supply System using Groundwater Resources
Jun. 2021 - Mar. 2027 - Changes in economic sanctions during a period of structural change
基盤研究(C)
東北公益文科大学
Apr. 2021 - Mar. 2024 - A research on the response of Japan's financial markets to information/news on important changes in the international economy and policy
Grant-in-Aid for Scientific Research (C)
Tohoku University of Community Service and Science
Apr. 2019 - Mar. 2022
