| Budget Amount *help |
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2016: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2015: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2014: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Outline of Final Research Achievements |
The Zombie firms theory argues that firms with heavy debt-burdened and lower labour productivity shall be promptly exited from the markets during recession by refraining from additional supply of bank credit. However, the credit network among firms, which is indispensable for production in the real economy, is absent in the theory.
In contrast, we introduce the network into the model, and we demonstrate that the assertion of the Zombie firms theory is not necessarily the case.
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