Propagation mechanism of financial crisis and portfolio behavior of financial institutions: Comparative studies of Japan, Eu and USA
| Project/Area Number |
22330068
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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 大阪大学, 社会経済研究所, 教授 (90160746)
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| Co-Investigator(Kenkyū-buntansha) |
TOKUTSU Ichiro 神戸大学, 経営学研究科, 教授 (80140119)
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| Project Period (FY) |
2010-04-01 – 2013-03-31
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| Project Status |
Completed (Fiscal Year 2013)
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| Budget Amount *help |
¥12,610,000 (Direct Cost: ¥9,700,000、Indirect Cost: ¥2,910,000)
Fiscal Year 2012: ¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2011: ¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2010: ¥5,850,000 (Direct Cost: ¥4,500,000、Indirect Cost: ¥1,350,000)
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| Keywords | 金融危機 / 資産選択行動 / 不良債権 / 設備投資 / 流動性需要 / 証券化 / 国債保有 / サブプライムローン / グローバル金融危機 / 貸出行動 / コールレポート / 中小企業 / バンクスコープ |
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| Research Abstract |
We empirically analyzed the mechanism through which adverse financial shocks were propagated into the slowdown of real economies, using micro data of financial institutions and firms. In particular we paid special attention to the portfolio behavior of financial institutions in propagation mechanism. We obtained the following findings. First we examined the motivation of securitization by US commercial banks and its consequence on the balance sheet of commercial banks. Second we investigated why Japanese banks held a large amount of Japanese Government Bonds in the late 1990s to the 2000s.
Third we identified the type of shocks that hit Japanese small and medium enterprises and then uncovered the mechanism through which shocks were propagated across industries with different firm size, using input output tables by firm size. Finally we examined the response of firms' investment and liquidity holdings to shocks for Asian countries as well as Japan.
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Report
(4 results)
Research Products
(34 results)
