| Budget Amount *help |
¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2010: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2009: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2008: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
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| Research Abstract |
We investigate whether patterns of trade and foreign direct investment are efficient from the economic welfare point of view in the situation with heterogeneity of firms, and whether policies creating heterogeneity of firms improve economic welfare. In the case where intrinsic costs and market sizes are different between countries or regions, the pattern of foreign direct investment is efficient from the welfare point of view. As a policy creating the heterogeneity of firms, we focus on the artificially low interest rate policy. We demonstrate that it can improve economic welfare if the interest rate ceiling entails a rationing rule distributing funds to the export-oriented industries.
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