An Empirical Study on the Relationship between Flow-of-Funds and the Real Economy : A General Equilibrium Approach to the Japanese Economy in the 1990s
| Project/Area Number |
19330044
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic statistics
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| Research Institution | Osaka University |
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Principal Investigator |
OGAWA Kazuo Osaka University, 社会経済研究所, 教授 (90160746)
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| Co-Investigator(Kenkyū-buntansha) |
TOKUTSU Ichiro 神戸大学, 大学院・経営学研究科, 教授 (80140119)
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| Research Collaborator |
ELMER Sterken グローニンゲン大学, 経済学部, 教授
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| Project Period (FY) |
2007 – 2009
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| Project Status |
Completed (Fiscal Year 2009)
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| Budget Amount *help |
¥11,310,000 (Direct Cost: ¥8,700,000、Indirect Cost: ¥2,610,000)
Fiscal Year 2009: ¥3,380,000 (Direct Cost: ¥2,600,000、Indirect Cost: ¥780,000)
Fiscal Year 2008: ¥3,640,000 (Direct Cost: ¥2,800,000、Indirect Cost: ¥840,000)
Fiscal Year 2007: ¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
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| Keywords | 一般均衡分析 / 不良債権 / 規模別産業連関分析 / 企業間信用 / 規模別産業連関表 / 財務状況 / 乗数 / 企業間の取引関係 / メインバンク / 金融機関の貸出態度 |
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| Research Abstract |
This research is an empirical attempt to analyze the mechanism of what brought about the long stagnancy of the Japanese economy in the 1990s from the general equilibrium standpoint. We investigated into the change in the flow-of-funds of the Japanese economy and how it had been propagated into the real economy. First, based on the firm-level micro data of Basis Survey of Small and Medium-sized Enterprises conducted by Small and Medium Enterprise Agency, we showed that small firms with weak relationship with banks tended to purchase intermediary goods from large firms and thus credit was given to small customers by large suppliers in the form of trade credit. Given the empirical findings obtained from the micro-data study above, we extended our analysis to examine the effects of balance sheet deteriorations of suppliers and purchasers as well as financial institutions on the trade of intermediary goods between large and small firms based on the input-output tables classified by firm size. We found that deterioration of the balance sheet conditions of financial institutions providing bank credit to suppliers affected the multipliers of small and large firms to a large extent.
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Report
(4 results)
Research Products
(26 results)
