| Project/Area Number |
22K13429
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| Research Category |
Grant-in-Aid for Early-Career Scientists
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| Allocation Type | Multi-year Fund |
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| Review Section |
Basic Section 07060:Money and finance-related
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| Research Institution | Kobe University |
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Principal Investigator |
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| Project Period (FY) |
2022-04-01 – 2024-03-31
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| Project Status |
Completed (Fiscal Year 2023)
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| Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2023: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2022: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
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| Keywords | banking sector / euro area / economic growth / climate change / climate transition / climate change risks / green transition / European Union / bank lending / COVID-19 |
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| Outline of Research at the Start |
The research aims at studying the impact of COVID-19 pandemic on the bank lending in the European Union member states and the role of these banks in the post-pandemic economic recovery. Specifically, the two points considered are: (1) what bank characteristics are important for banks to continue lending; (2) how bank characteristics and lending influence the economic growth during and after the pandemic. The results provide insights into banks' ability to finance economic recovery as well as on the differences across member states which might affect future cross-country growth disparities.
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| Outline of Final Research Achievements |
The research, first, demonstrated a negative relationship between size of the banking sector and economic growth in euro area countries, which was especially strong in times of crises and pandemic. Banking sector size appears to affect growth through impacts of financial stress and bank stability, and divergence of resources towards employment in the financial sector and construction.
Second, EU banks weathered the pandemic well. There are, however, numerous risks to banking sector stemming from climate change and the research showed problems related to specific risk assessment. Further, there is expectation for banks to participate in financing the green transition but many obstacles for that were identified, often related to risk perception and risk management as well as incentives for banks to finance green projects. The solutions are often not straightforward and require not only constant prudent supervision but also creation of the new rules and supporting systems.
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| Academic Significance and Societal Importance of the Research Achievements |
気候変動に伴うリスクやその対策について、経済全体においても銀行においても多くの不明点が存在しています。銀行システムは資金提供を通じて経済成長に大きい影響を与えているが、気候変動の起因とするリスクの多くも受けやすく、その打撃を受けた場合、金融システムの不安定性により実体経済も影響を受けたり、今後の資金提供が困難になったりする可能性があるため、大事な問題となっています。
従ってこの研究で、ヨーロッパの銀行における気候変動によるリスクの大きさおよびその正確な評価を妨害する問題を明らかにし、解決方法を考察しました。また、グリーン移行の資金提供を制限される課題点を洗い出し、可能な解決方法を評価しました。
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