| Outline of Annual Research Achievements |
I investigated and modeled the credit guarantee scheme using econometric techniques and calculated the optimal credit guarantee ratio for each group of banks in a sample of countries from the Association of Southeast Asian Nations (ASEAN) in different stages of recovery in post-COVID-19. In addition, I expanded my study by incorporating the carbon neutrality and green development goals and the necessity of green finance and investment to achieve the goals in Japan, China, ASEAN, and several other countries in Asia.
In my studies, firstly, I examined the relationship between the credit guarantee ratio and different variables. Secondly, I developed an econometrics model to highlight the loan default ratio response to macroeconomic and bank-level impulses; thirdly, my studies proposed ways to make the recovery of SMEs, green and sustainable; fourthly, I evaluated the effectiveness of green finance instruments, including carbon taxation, carbon pricing, green bond, green credit guarantee, green credit to promote the green growth of all sectors including SMEs.
I found that the green credit guarantee scheme is a proper instrument for facilitating the development of SMEs while incentivizing them to be green. Moreover, SMEs are significant emitters; hence carbon neutrality could not be achieved without considering the SMEs. In addition to that, to have an optimal credit guarantee scheme, the guarantee fee needs to vary for SMEs based on their soundness. Moreover, governments need to categorize banks based on their soundness, and sound banks receive a higher guarantee ratio.
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| Current Status of Research Progress |
Current Status of Research Progress
2: Research has progressed on the whole more than it was originally planned.
Reason
My studies are progressing rather smoothly. I could publish the results of my studies in several journal papers and books. The publications list is available in bellow link: https://www.scopus.com/authid/detail.uri?authorId=56291956400
I presented the results of my studies at several international conferences, workshops, and seminars.
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| Strategy for Future Research Activity |
I plan to expand my research in the current fiscal year by focusing more on the sustainability aspects of SMEs and the necessity of incentivizing firms to be green to achieve carbon neutrality. Japan and several other Asian economies set the net-zero target. Most rules and regulations for protecting the environment, energy transition, and reducing greenhouse gas emissions target large enterprises. Although, SMES have major shares in Japan and most Asian economies, they remain outside the purview of most environmental and energy rules and regulations. Many studies have focused on the role of large industries such as power plants in environmental pollution. Still, statistics from different countries show that SMEs have also contributed significantly to GHGs. My study will focus on theoretical and empirical studies on the impacts of SMEs on CO2 emissions and implications for their energy transition. I aim to propose innovative ways for green development and the transition of SME to carbon-neutral enterprises.
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