Analysis of government loan guaranteed program
Project/Area Number |
22730261
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Research Category |
Grant-in-Aid for Young Scientists (B)
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Allocation Type | Single-year Grants |
Research Field |
Public finance/Monetary economics
|
Research Institution | Tokyo Keizai University |
Principal Investigator |
|
Project Period (FY) |
2010 – 2012
|
Project Status |
Completed (Fiscal Year 2012)
|
Budget Amount *help |
¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
Fiscal Year 2012: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2011: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2010: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
|
Keywords | 信用保証制度 / リスクテイク / 預金保険制度 / 自己資本比率規制 / 免許価値 / 信用保証 / 銀行行動 / 保証付き貸出 / プロパー貸出 / リスクテイキング / リレーションシップ・バンキング |
Research Abstract |
We analyzed theoretically and empirically the effects of Japanese government loan guarantees on banks’ non-guaranteed lending and risk-taking. Both theory and evidence further suggested that increasing loan guarantees gave banks incentives to take more risk. We also examine the effectiveness of Japan’s Emergency Credit Guarantee (ECG) program set up during the financial turmoil following the failure of Lehman Brothers. We find that the ECG program significantly improved credit availability for firms using the program. However, when it is a relationship lender (main bank) that extends an ECG loan, the increased availability is partially, if not completely, offset by a decrease in non-ECG loans by the same bank.
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Report
(4 results)
Research Products
(11 results)