2012 Fiscal Year Final Research Report
Theoretical and empirical examinations about the effects of financial system reform on real economy
| Project/Area Number |
20330063
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | The University of Tokyo |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
HIROSE Sumio 信州大学, 経済学部, 准教授 (60377611)
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| Co-Investigator(Renkei-kenkyūsha) |
AKIYOSHI Fumio 大阪経済大学, 経済学部, 准教授 (30454490)
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| Project Period (FY) |
2008 – 2012
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| Keywords | 金融制度改革 / バブル / 買収防衛策 / 資本市場 / 救済政策 |
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| Research Abstract |
This research project examined the effects of financial system reform and financial institution improvement on real economy. It empirically examined recent important legal rules, such as bankruptcy law, corporate law or rules of takeover protections, and explored how these rules related to Japanese financial system has actually affected to the real economy and it derived that these regal rules had some strong impacts. Furthermore, this research applied these results to examine how financial system affects macro dynamics and dynamics of asset prices, such as asset bubbles. By using of macro dynamics model with financial imperfection, it has derived that financial imperfection and emergence of bubbles has non-linear relation, and the effects of bubbles on economic growth is much affected by the conditions of financial system, and the desirable bailout policy and the condition of financial system is closely related.
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Research Products
(27 results)
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[Presentation] Asset Bubbles and Bailout2012
Author(s)
柳川範之
Organizer
2012 AFR Summer Institute of Economics and Finance(招待講演)
Place of Presentation
Zhejiang Narada Grand Hotel,Shuguang Road 122#, Hangzhou,China201(中国)
Year and Date
2012-06-16
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