2010 Fiscal Year Final Research Report

The functions and division of roles between trade credit and bank loans during the Financial Crisis

Research Project

Project/Area Number	20530192
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Single-year Grants
Section	一般
Research Field	Applied economics
Research Institution	The University of Tokyo
Principal Investigator	MIWA Yoshiro The University of Tokyo, 大学院・経済学研究科, 教授 (90109158)
Project Period (FY)	2008 – 2010
Keywords	金融危機 / Credit Crunch / 企業間信用 / 銀行融資 / 不良債権
Research Abstract	The conventional wisdom that financial institutions, big banks in particular, have dominated the Japanese financial market and played there the key roles has long been an obvious basic assumption in research and policy debate over the Japanese financial phenomena. To investigate the validity of this assumption, focusing on the Financial Crisis period, I conducted a full-fledged empirical research with a huge set of firm-level financing data, and concluded that it has been invalid, at least since the 1960s. Upon this conclusion I started a new research on the functions and division of roles between trade credit and bank loans.

(6 results)