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Long Term Loans and Investment in Japan : An Empirical Analysis Based on the Panel Data of Japanese Firms
http://hdl.handle.net/2261/2356
http://hdl.handle.net/2261/235636645523-fdd3-47e9-aac7-e3e4baec3710
| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2012-01-13 | |||||
| タイトル | ||||||
| タイトル | Long Term Loans and Investment in Japan : An Empirical Analysis Based on the Panel Data of Japanese Firms | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Long-term Loans | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Economic Growth | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Tohin's Q | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL #: G21, G28 | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| アクセス権 | ||||||
| アクセス権 | metadata only access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
| 著者 |
Fukuda, Shin-ichi
× Fukuda, Shin-ichi× Ji, Cong× Okui, Megumi× Okuda, Kenichi |
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| 著者所属 | ||||||
| 値 | University of Tokyo | |||||
| 著者所属 | ||||||
| 値 | Keiai University | |||||
| 著者所属 | ||||||
| 値 | Institute for Posts and Telecommunications Policy | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | The purpose of this paper is to investigate whether that the policy-based allocation of long-term funds played an important role in promoting the high economic growth in post-war Japan. Using the panel data functions of Japanese firms, we estimate Tobin’s Q investment functions in two different sample periods － 1972-84 and 1985-96. In 1972-84, we find that the long-term loan ratio had an additional positive effect on investment. In particular, the result holds true regardless of the size of corporate cash flows or the type of corporate groupings. However, in 1985-96, we cannot find that a higher ratio of long-term loans increased the Japanese firm’s investment. The result indicates that the size of long-term loans had a great influence on the firm’s investment only before the financial liberalization in Japan. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | A part of this paper titled "The Role of Long-term Funds for Economic Development: Empirical Evidence in Japan, Korea, and Taiwan" was subsequently published in J. Fan, J. Teranishi, and M. Hanazaki eds., Desiging Financial Systems in East Asia & Japan (Routledge), 2004, p. 47-83. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 本文フィルはリンク先を参照のこと | |||||
| 書誌情報 |
Discussion paper series. CIRJE-F 巻 CF-80, 発行日 2000-07 |
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| 書誌レコードID | ||||||
| 収録物識別子タイプ | NCID | |||||
| 収録物識別子 | AA11450569 | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 330 | |||||
| 出版者 | ||||||
| 出版者 | 日本経済国際共同センター | |||||
| 出版者別名 | ||||||
| 値 | Center for International Research on the Japanese Economy | |||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2000/2000cf80.pdf | |||||
