2015 Fiscal Year Final Research Report
Lending behavior of banking sector for small and medium-sized enterprises in Japan
| Project/Area Number |
25380417
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Money/ Finance
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| Research Institution | University of Marketing and Distribution Sciences |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
HIRAGA Kazuki 東海大学, 政治経済学部, 講師 (40528923)
FUJII Takao 神戸市外国語大学, 外国語学部, 准教授 (80547216)
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| Project Period (FY) |
2013-04-01 – 2016-03-31
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| Keywords | ポートフォリオ・リバランス効果 / Tobinの限界q / Granger's causality / 為替レート |
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| Outline of Final Research Achievements |
In this research project, we verify the lending behavior of banking sector to small and medium-sized enterprises (hereafter, SMEs) and investment behavior of SMEs.
Regarding the lending behavior for SMEs, we obtained following results. First, bank lending had negative relationship with interest rate, and did not grow in the periods of quantitative easing policy. And second, the lending behavior of shinkin banks is different from that of domestic banks after the periods of quantitative easing policy, for the difference in the basic policy. As for the lending investment behavior of SMEs (mainly manufacturing), we focus on the relationship between exchange rate and investment, for exchange rate is regarded as important factor for manufacturing industries. And the empirical results show that there is little relationship between them.
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| Free Research Field |
金融論、マクロ経済学
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