Symposium “Empirical science of financial fluctuations” was organized by the largest daily news-paper of Japanese business circles “Nihon Keizai Shimbun” and its sub-division “Nikkei Research Inc.” For the first time. It was held in Tokyo on 15-17 of November, 2000. The main goal of the symposium was the formulation of approaches to detect and verify empiric laws and rules, which regulate the financial market today and will regulate it tomorrow
The understanding of cardinal changes in the world financial market during the last years became the reason to hold the symposium. Its fluctuations analysis can no more be carried out within the frame of orthodox economic theories and practical approaches, worked out on their basis. Liberalization of currency exchange, 24-hour auctions with use of computer networks, make an impression of growing chaos, which might undermine the world economy. It became extremely important to combine efforts of scientists and practicians to analyze statistical data about current financial activity, using the most modern scientific instruments, and carry out a detailed discussion of the regularities revealed.
A wide range of reports was presented on the Symposium. Analysis of great mass of empiric data about currency exchange rates, prices of shares, functioning of separate sectors of the financial market, was carried out with use of methods of correlation and scaling analysis, exposure of trend and others. Risk management and forecast was carried out by revealing attractors, defining symptoms of the market crumbling and others. To simulate the financial market there was used multi-agents simulation. It considered universality of scaling regularities in asset fluctuations of companies, statistical profit distribution and others. The International Institute of A.Bogdanov presented an oral report "Economic Agents Strategies under Financial Fluctuations: Russian Bank System". The report described the Russian banking system development during the decade, and proposed a method to reveal strategies of banks behavior, illustrated with empiric material –resource redistribution between credit institutions after the crisis of 18 August, 1998. This was the only report, presented by Russian scientists. The total number of Symposium participants was limited to 60 persons, discussing modes and methods of the financial markets fluctuation analysis during the 3 days.
The third day of the Symposium finished with an “Open forum”, attended by near 500 persons – representatives of Japanese business circles.
Course of the Symposium was commented by the newspaper “Nihon Keizai Shimbun (Nikkei)” (all information is in Japanese).