| Budget Amount *help |
¥8,320,000 (Direct Cost: ¥6,400,000、Indirect Cost: ¥1,920,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2012: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2011: ¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
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| Outline of Final Research Achievements |
We examined empirically and theoretically the causes of the poor performance of the Japanese economy after 1990s, with a special reference to some “long-term relation-based transactions” that have characterized the economy. In response to the economic environment that changed in the latter half of 1980s, Japanese firms attempted to switch some part of their transactions from the conventional relation-based ones to the market-based ones. However, our empirical researches found that this transition to the market-based transactions was limited, and thus that the Japanese economy was still based on the relation-based transactions such as lifelong employment and loans to affiliates. We also constructed some models that can explain this robustness of the relation-based transactions.
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