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2019 Fiscal Year Research-status Report

Optimal credit guarantee fee rate for the small and medium-sized enterprises in Japan

Research Project

Project/Area Number 19K13742
Research InstitutionWaseda University

Principal Investigator

タギザーデヘサーリ ファルハード  早稲田大学, 政治経済学術院, 講師(任期付) (00770041)

Project Period (FY) 2019-04-01 – 2021-03-31
KeywordsSME / credit guarantee / credit guarantee fee / credit guarantee scheme / green credit guarantee
Outline of Annual Research Achievements

In line with the research plan, I focused on developing a model for calculating the optimal credit guarantee fee and optimal credit guarantee ratio for the small and medium-sized enterprises. Development of the theoretical model and the empirical works using data from various Asian economies including Japan, Iran, Thailand, Kazakhstan done. In addition to the above, I could apply a similar framework (credit guarantee scheme) to the green energy sector and developed a model which is so-called: green credit guarantee scheme. This scheme is applicable for renewable energy projects financing, to reduce the risk of green finance, that will unlock the private investment and finance in green and renewable energy projects.

Current Status of Research Progress
Current Status of Research Progress

1: Research has progressed more than it was originally planned.

Reason

The research progress was more smoothly and faster than initially planned and I could have very good achievements. Results of this research project published in various high impacts journals, also in a book that I co-edited and published by Routledge with the co-publishing of the Asian Development Bank Institute and OECD and also presented in different international conferences, seminars and workshops.

Strategy for Future Research Activity

I would like to apply the models that developed in this research project to green and renewable energy sector and use the data from the real work to test the models empirically. This is the theme that I would like to apply in my next Kakenhi project.

Causes of Carryover

I almost finished the amount of the budget.

  • Research Products

    (50 results)

All 2021 2020 2019 Other

All Int'l Joint Research (6 results) Journal Article (23 results) (of which Int'l Joint Research: 23 results,  Peer Reviewed: 23 results,  Open Access: 3 results) Presentation (19 results) (of which Int'l Joint Research: 4 results,  Invited: 15 results) Book (2 results)

  • [Int'l Joint Research] Jiangsu University/Zhejiang Uni of Finance and Economics(中国)

    • Country Name
      CHINA
    • Counterpart Institution
      Jiangsu University/Zhejiang Uni of Finance and Economics
  • [Int'l Joint Research] Griffith University/University of Wollongong/University of Tasmania(オーストリア)

    • Country Name
      AUSTRIA
    • Counterpart Institution
      Griffith University/University of Wollongong/University of Tasmania
  • [Int'l Joint Research] Singapore University of Social Sciences(シンガポール)

    • Country Name
      SINGAPORE
    • Counterpart Institution
      Singapore University of Social Sciences
  • [Int'l Joint Research] Bangladesh Inst. of Development Studies(バングラデシュ)

    • Country Name
      BANGLADESH
    • Counterpart Institution
      Bangladesh Inst. of Development Studies
  • [Int'l Joint Research] Academy of Finance/University of Economics Ho Chi Minh City/Bangking Academy(ベトナム)

    • Country Name
      VIET NAM
    • Counterpart Institution
      Academy of Finance/University of Economics Ho Chi Minh City/Bangking Academy
  • [Int'l Joint Research]

    • # of Other Countries
      5
  • [Journal Article] A model for calculating optimal credit guarantee fee for small and medium-sized enterprises2021

    • Author(s)
      Taghizadeh-Hesary Farhad、Yoshino Naoyuki、Fukuda Lisa、Rasoulinezhad Ehsan
    • Journal Title

      Economic Modelling

      Volume: 95 Pages: 361~373

    • DOI

      10.1016/j.econmod.2020.03.003

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Default risks, moral hazard and market-based solution: Evidence from renewable energy market in Bangladesh2021

    • Author(s)
      Hossain Monzur、Yoshino Naoyuki、Taghizadeh-Hesary Farhad
    • Journal Title

      Economic Modelling

      Volume: 95 Pages: 489~499

    • DOI

      10.1016/j.econmod.2020.03.015

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Optimal branching strategy, local financial development, and SMEs’ performance2020

    • Author(s)
      Hossain Monzur、Yoshino Naoyuki、Taghizadeh-Hesary Farhad
    • Journal Title

      Economic Modelling

      Volume: NA Pages: NA

    • DOI

      doi.org/10.1016/j.econmod.2020.03.027

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Sustainable Solutions for Green Financing and Investment in Renewable Energy Projects2020

    • Author(s)
      Taghizadeh-Hesary Farhad、Yoshino Naoyuki
    • Journal Title

      Energies

      Volume: 13 Pages: 788~788

    • DOI

      doi.org/10.3390/en13040788

    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] The Impacts of Air Pollution on Health and Economy in Southeast Asia2020

    • Author(s)
      Taghizadeh-Hesary Farhad、Taghizadeh-Hesary Farzad
    • Journal Title

      Energies

      Volume: 13 Pages: 1812~1812

    • DOI

      10.3390/en13071812

    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Geopolitical Risk and Energy Transition in Russia: Evidence from ARDL Bounds Testing Method2020

    • Author(s)
      Rasoulinezhad Ehsan、Taghizadeh-Hesary Farhad、Sung Jinsok、Panthamit Nisit
    • Journal Title

      Sustainability

      Volume: 12 Pages: 2689~2689

    • DOI

      doi.org/10.3390/su12072689

    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] How Is Mortality Affected by Fossil Fuel Consumption, CO2 Emissions and Economic Factors in CIS Region?2020

    • Author(s)
      Rasoulinezhad Ehsan、Taghizadeh-Hesary Farhad、Taghizadeh-Hesary Farzad
    • Journal Title

      Energies

      Volume: 13 Pages: 2255~2255

    • DOI

      doi.org/10.3390/en13092255

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Energy security in Pakistan: Perspectives and policy implications from a quantitative analysis2020

    • Author(s)
      Malik Sadia、Qasim Maha、Saeed Hasan、Chang Youngho、Taghizadeh-Hesary Farhad
    • Journal Title

      Energy Policy

      Volume: 144 Pages: 111552~111552

    • DOI

      doi.org/10.1016/j.enpol.2020.111552

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Economic Cooperation in the Greater Mekong Sub-Region2020

    • Author(s)
      Le Binh Hai、Nguyen Dang Quyen、Vu Kieu Trang、Luu Hiep Ngoc、Taghizadeh-Hesary Farhad
    • Journal Title

      Journal of Economic Integration

      Volume: 35 Pages: 240~263

    • DOI

      doi.org/10.11130/jei.2020.35.2.240

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Developing Low Carbon Finance Index: Evidence From Developed and Developing Economies2020

    • Author(s)
      Mohsin Muhammad、Taghizadeh-Hesary Farhad、Panthamit Nisit、Anwar Saba、Abbas Qaiser、Vo Xuan Vinh
    • Journal Title

      Finance Research Letters

      Volume: NA Pages: 101520~101520

    • DOI

      doi.org/10.1016/j.frl.2020.101520

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Analyzing carbon emission transfer network structure among provinces in China: new evidence from social network analysis2020

    • Author(s)
      Sun Licheng、Qin Lin、Taghizadeh-Hesary Farhad、Zhang Jijian、Mohsin Muhammad、Chaudhry Imran Sharif
    • Journal Title

      Environmental Science and Pollution Research

      Volume: 27 Pages: 23281~23300

    • DOI

      doi.org/10.1007/s11356-020-08911-0

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Carbon emission transfer strategies in supply chain with lag time of emission reduction technologies and low-carbon preference of consumers2020

    • Author(s)
      Sun Licheng、Cao Xiaoxiao、Alharthi Majed、Zhang Jijian、Taghizadeh-Hesary Farhad、Mohsin Muhammad
    • Journal Title

      Journal of Cleaner Production

      Volume: 264 Pages: 121664~121664

    • DOI

      doi.org/10.1016/j.jclepro.2020.121664

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Assessment of the Trade Integration Pattern Between the Russian Federation and East/Southeast Asian Economies Using the Panel Gravity Framework2020

    • Author(s)
      Rasoulinezhad Ehsan、Taghizadeh-Hesary Farhad、Yoshino Naoyuki
    • Journal Title

      Asian Economic Papers

      Volume: 19 Pages: 1~14

    • DOI

      doi.org/10.1162/asep_a_00745

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Low-carbon financial risk factor correlation in the belt and road PPP project2020

    • Author(s)
      Sun Yu、Chen Lizhen、Sun Huaping、Taghizadeh-Hesary Farhad
    • Journal Title

      Finance Research Letters

      Volume: 35 Pages: 101491~101491

    • DOI

      doi.org/10.1016/j.frl.2020.101491

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Regional Economic Integration in Asia: Challenges and Recommended Policies2020

    • Author(s)
      Taghizadeh-Hesary Farhad、Yoshino Naoyuki、Kim Chul Ju、Morgan Peter J.
    • Journal Title

      Journal of Economic Integration

      Volume: 35 Pages: 1~9

    • DOI

      doi.org/10.11130/jei.2020.35.1.1

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Does financial inclusion impact CO2 emissions? Evidence from Asia2020

    • Author(s)
      Le Thai-Ha、Le Ha-Chi、Taghizadeh-Hesary Farhad
    • Journal Title

      Finance Research Letters

      Volume: NA Pages: 101451~101451

    • DOI

      doi.org/10.1016/j.frl.2020.101451

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Optimal credit guarantee ratio for small and medium-sized enterprises’ financing: Evidence from Asia2019

    • Author(s)
      Yoshino Naoyuki、Taghizadeh-Hesary Farhad
    • Journal Title

      Economic Analysis and Policy

      Volume: 62 Pages: 342~356

    • DOI

      10.1016/j.eap.2018.09.011

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] The way to induce private participation in green finance and investment2019

    • Author(s)
      Taghizadeh-Hesary Farhad、Yoshino Naoyuki
    • Journal Title

      Finance Research Letters

      Volume: 31 Pages: 98~103

    • DOI

      doi.org/10.1016/j.frl.2019.04.016

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Does Financial Integration Matter for Financial Development? Evidence from the East Asian and Pacific Region2019

    • Author(s)
      Taghizadeh-Hesary Farhad、Phi Nguyet Thi Minh、Hong Hanh Hoang Thi、Chu Vu Tuan
    • Journal Title

      Journal of Economic Integration

      Volume: 34 Pages: 591~618

    • DOI

      10.11130/jei.2019.34.4.591

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Energy insecurity in Asia: A multi-dimensional analysis2019

    • Author(s)
      Le Thai-Ha、Chang Youngho、Taghizadeh-Hesary Farhad、Yoshino Naoyuki
    • Journal Title

      Economic Modelling

      Volume: 83 Pages: 84~95

    • DOI

      10.1016/J.ECONMOD.2019.09.036

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Indian electricity sector, energy security and sustainability: An empirical assessment2019

    • Author(s)
      Sarangi Gopal K.、Mishra Arabinda、Chang Youngho、Taghizadeh-Hesary Farhad
    • Journal Title

      Energy Policy

      Volume: 135 Pages: 110964~110964

    • DOI

      10.1016/j.enpol.2019.110964

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] The impact of monetary and tax policy on income inequality in Japan2019

    • Author(s)
      Taghizadeh-Hesary Farhad、Yoshino Naoyuki、Shimizu Sayoko
    • Journal Title

      The World Economy

      Volume: NA Pages: 1-22

    • DOI

      doi.org/10.1111/twec.12782

    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Unlocking SME Finance in Asia2019

    • Author(s)
      Naoyuki Yoshino and Farhad Taghizadeh-Hesary
    • Journal Title

      Routledge

      Volume: NA Pages: 1-426

    • DOI

      doi.org/10.4324/9780429401060

    • Peer Reviewed / Int'l Joint Research
  • [Presentation] Role of Credit Risk Database and Credit Risk Assessment in Easing SMEs and Startups Access to Finance2020

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Modern Quantitative Economic Research Master Class, Feb 26-27, 2020, Chiang Mai University, Chiang Mai, Thailand
    • Invited
  • [Presentation] Stronger Multilateralism Key to Tackle the Regional Energy Security.2020

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      expert group meeting on: New and Inclusive Multilateralism in North East Asia. United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP), Dec 4-5 2019, Republic of Korea
    • Invited
  • [Presentation] Keynote Speech2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      1st Intl Conf on Banking and Finance, Theme: Banking and Systems and the Fourth Industrial Revolution. Banking Academy of Vietnam, State Bank of Vietnam, Dec 5-6, 2019, Hanoi, Vietnam.
    • Invited
  • [Presentation] A model for calculating optimal credit guarantee fee for small and medium-sized enterprises2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Sustainable Growth and Robust Financial System workshop. Bank Indonesia-Asian Development Bank Institute-APAEA- Oct 03, 2019 Jakarta, Indonesia
    • Invited
  • [Presentation] A Comprehensive Evaluation Framework on the Economic Performance of2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Reforming SOEs in Central Asia, Challenges and Solutions Workshop ADB-ADBI-Carec Institute-American University of Central Asia. 26;27 September 2019, Bishkek, Kyrgyz Republic
    • Invited
  • [Presentation] SDGs needs and financial sector imperatives.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      An Efficiency Based Regional Approach to Realize Sustainable Development Goals Workshop organized by the Economic Research Institute for ASEAN and East Asia. 23-24 Sep 2019. Bangkok, Thailand.
    • Invited
  • [Presentation] Japan’s Lost Decade: Lessons for Asian Economics.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      nvited Seminar. Sep 16, 2019, University of Tasmania, Hobart, Tasmania, Australia.
    • Invited
  • [Presentation] Russia-East Asia LNG trade pattern and the regional energy security.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      The 8th International Conference of Asian Economic Development (AED). Aug 28-30 2019. Chiang Mai, Thailand.
    • Int'l Joint Research
  • [Presentation] Economic Integration In the context of Energy Security.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Workshop on Comparison of Economic Integration in Asia and Europe. ADBI-CAREC Institute-Ministry of Economy of Georgia, 30-31 July 2019. ISET, Tbilisi, Georgia
    • Invited
  • [Presentation] Economic Burden of Neurological Disorders in an Aging Society2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Neuroscience20-N20-/G20, June 27-28, 2019, Osaka, Japan
    • Invited
  • [Presentation] T20 Panel Session on: “Digital Innovation Can Improve Financial Access for SMEs2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      T20/G20 summit, May 27, 2019, Toranomon Hills, Tokyo, Japan
    • Invited
  • [Presentation] Analyzing the factors influencing the demand supply of solar modules in Japan.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      2019 International Conference on Energy Finance (ICEF), May 18th 2019, Kunming, China
    • Int'l Joint Research
  • [Presentation] Geothermal power development in Japan: Barriers and remedies.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      2019 International Conference on Energy Finance (ICEF), May 18th 2019, Kunming, China
    • Int'l Joint Research
  • [Presentation] Energy-Health-Economy Nexus in South-East Asia: A multifaceted impact analysis of fossil fuel emissions on health and economy.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      ERIA seminar on Synergies of Energy Uses with Economic, Social and Environment: A New Approach to Support Sustainable Development, May 5th 2019, Bangkok, Thailand
    • Invited
  • [Presentation] Quality Infrastructure and Natural Disaster Resiliency: A Panel Data Analysis of Asia-Pacific Countries.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Regional Workshop on Blue Economy and Disaster Risk Financing by: Asian Development Bank Institute, Ocean Policy Research Institute and Fiji National University, May 1st, 2019, Nadi, Fiji.
    • Invited
  • [Presentation] Russia-East Asia LNG trade pattern and the regional energy security.2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      The 4th International Energy Finance Conference, April 20, 2019, Xi’an, PRC
    • Int'l Joint Research
  • [Presentation] A Comprehensive Evaluation Framework on the Economic Performance of2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Policy Workshop on Reforming State-Owned Enterprises in Asia, March 7, 2019, Academy of Finance (AOF) Ministry of Finance, Hanoi, Vietnam
    • Invited
  • [Presentation] Basel Capital Requirement, lending Interest rate and the aggregate economic growth:2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      CONTEMPORARY ISSUES IN INTERNATIONAL ECONOMICS AND BANKING Workshop, March 06, 2019, State Bank of Vietnam, Banking Academy of Vietnam Hanoi, Vietnam
    • Invited
  • [Presentation] Role of Credit Risk Data Workshop on Credit Risk Assessment of SMEs and Startups: Asian Experiences,2019

    • Author(s)
      Farhad TAGHIZADEH-HESARY
    • Organizer
      Workshop on Credit Risk Assessment of SMEs and Startups: Asian Experiences, March 01, 2019, Technology Studies Institute, Presidency, Tehran, Iran
    • Invited
  • [Book] Energy Sustainability and Development in ASEAN and East Asia2020

    • Author(s)
      Phoumin Han, Farhad Taghizadeh-Hesary, Fukunari Kimura
    • Total Pages
      228
    • Publisher
      Routledge
    • ISBN
      9781003026075
  • [Book] Unlocking SME Finance in Asia: Roles of Credit Rating and Credit Guarantee Schemes2019

    • Author(s)
      Naoyuki Yoshino, Farhad Taghizadeh-Hesary
    • Total Pages
      426
    • Publisher
      Routledge
    • ISBN
      9780429401060

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Published: 2021-01-27  

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