2015 Fiscal Year Final Research Report
Theoretical and Empirical Studies on Roles on Banks Played by Governments
Project/Area Number |
24530360
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Multi-year Fund |
Section | 一般 |
Research Field |
Public finance/Monetary economics
|
Research Institution | Keio University |
Principal Investigator |
Watanabe Wako 慶應義塾大学, 商学部, 教授 (80379106)
|
Project Period (FY) |
2012-04-01 – 2016-03-31
|
Keywords | 預金保険 / モラルハザード / 金融ショックの国際的伝播 / 中小企業金融公庫 |
Outline of Final Research Achievements |
First, using data about financial statements and stocks of individual banks, we find that Japanese banks engaged in the moral hazard of shifting risks to the deposit insurance system and that, infusions of well-designed public capital into poorly capitalized banks mitigated the extent of banks' risk-shifting. Second, regarding an issue of the transmission of shocks in international financial markets to domestic firms and smaller unlisted firms in emerging economics. We will begin empirical exercises when the dataset is complete. Third, we find that in Japan a firm whose main bank reduced lending more greatly due to poorer capital adequacy in fiscal year 1997 borrowed larger amounts of loans from the Japan Finance Corporation for Small and Medium Enterprise during a 16 month period starting in December 1997.
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Free Research Field |
応用マクロ経済学、銀行行動
|