| Budget Amount *help |
¥2,860,000 (Direct Cost: ¥2,200,000、Indirect Cost: ¥660,000)
Fiscal Year 2015: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2014: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2013: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
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| Outline of Final Research Achievements |
This research theoretically shows that structural changes in financial markets, such as developments in corporate bond markets and emergence of shadow banking, induces bank risk taking by inducing banks' loan-deposite interest rate spreads. Furthermore, it is shown that impacts of the collapse of asset price bubbles are larger when shadow banking sector emerges. This is because the collapse of bubbles hurts the balance sheet of banks who guarantee shadow banks.
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