| Budget Amount *help |
¥3,120,000 (Direct Cost: ¥2,400,000、Indirect Cost: ¥720,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2012: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2011: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
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| Research Abstract |
In East Asia, banks have shifted from corporate focused lending to household focused lending since about 2000. This change in the pattern of financial intermediation has affected the macro-financial linkages and the financial and business cycle synchronizations across East Asian economies. However, the degrees of the change in financial intermediation vary across East Asian economies. The degree of synchronization between housing-price cycle and business cycles has increased in the 2000s for economies with more highly developed household credits. And, the degree of housing-price and business cycle synchronizations across economies with more highly developed household credits has increased.
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