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Discouraged Borrowers in Japan

Research Project

Project/Area Number 16530210
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Public finance/Monetary economics
Research InstitutionAomori Public College

Principal Investigator

KON Yoshinori  Aomori Public College, School of Management and Economics, Professor (40107115)

Project Period (FY) 2004 – 2007
Project Status Completed (Fiscal Year 2007)
Budget Amount *help
¥3,440,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥240,000)
Fiscal Year 2007: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2006: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2005: ¥800,000 (Direct Cost: ¥800,000)
Fiscal Year 2004: ¥1,000,000 (Direct Cost: ¥1,000,000)
KeywordsSME finance / discouraged borrowers / loan application cost
Research Abstract

The purpose of this study is to explore the behavior of the discouraged borrowers in credit markets and to examine the role of non-banks, especially that of money lenders (Kashikin-gyo) to fill the finance gap facing the discouraged borrowers in Japan. We employ the Kon-Storey model as an analytical framework to investigate the relationships between bank credit and non-bank loan to risky borrowers. Firstly, we reviewed the recent research following Kon-Storey to find conceptual development such as the "problem of access" (Beck-de la Torre) which includes discouragement of borrowers as "self-exclusion". Secondly, we have modified the original Kon-Storey model to show more precisely how money lender market variables (interest rate and loan supplied at equilibrium)respond to several parameter changes under the simplified assumption of uniformly distributed loan application cost among potential borrowers. We have found that the money lender loan changes oppositely to the bank credit change (ie. substitutability). Thirdly, we have built a dataset on Kashikin-gyo and have found that the rates of money lender loan change are negatively correlated with the rate of bank credit change in recent years in Japan, which is consistent with the theoretical prediction.

Report

(5 results)
  • 2007 Annual Research Report   Final Research Report Summary
  • 2006 Annual Research Report
  • 2005 Annual Research Report
  • 2004 Annual Research Report
  • Research Products

    (4 results)

All 2008 2007

All Journal Article (4 results)

  • [Journal Article] ディスカレッジドボロワーズとマネーレンダー2008

    • Author(s)
      今 喜典
    • Journal Title

      青森公立大学騰済学研究 大14巻1号

      Pages: 15-29

    • NAID

      120005459508

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Journal Article] Discouraged borrowers and money lenders2008

    • Author(s)
      Yoshinori, KON
    • Journal Title

      Aomori Public College Journal of Management and Economics Vol. 14, No. 1(forthcoming)

    • NAID

      120005459508

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Journal Article] ディスカレッジドボロワーズとマネーレンダー2007

    • Author(s)
      今 喜典
    • Journal Title

      青森公立大学ディスカッションペーパー、No.35

      Pages: 1-47

    • NAID

      120005459508

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Journal Article] Discouraged borrowers and money lenders2007

    • Author(s)
      Yoshinori, KON
    • Journal Title

      Aomori Public College, Discussion Paper No. 35

    • NAID

      120005459508

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2007 Final Research Report Summary

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Published: 2004-04-01   Modified: 2016-04-21  

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