2013 Fiscal Year Final Research Report
Changes in financial intermediation and business cycle synchronization in emerging Asian economies
| Project/Area Number |
23530348
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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 |
Economic policy
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| Research Institution | Kanazawa University (2013)
Osaka International University (2011-2012) |
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Principal Investigator |
ENYA Masahiro 金沢大学, 経済学経営学系, 准教授 (70340867)
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| Project Period (FY) |
2011 – 2013
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| Keywords | アジア新興市場 / 金融仲介の変化 / 資産価格 / 景気循環 / 金融循環 / 同調性 |
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| Research Abstract |
In East Asia, banks have shifted from corporate focused lending to household focused lending since about 2000. This change in the pattern of financial intermediation has affected the macro-financial linkages and the financial and business cycle synchronizations across East Asian economies. However, the degrees of the change in financial intermediation vary across East Asian economies. The degree of synchronization between housing-price cycle and business cycles has increased in the 2000s for economies with more highly developed household credits. And, the degree of housing-price and business cycle synchronizations across economies with more highly developed household credits has increased.
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