Download Firm Investment and Balance-Sheet Problems in Japan

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Firm Investment and Balance-Sheet Problems in Japan High quality books

Firm Investment and Balance-Sheet Problems in Japan
By:Mr. Toshitaka Sekine
Published on 1999-08-01 by International Monetary Fund

This paper investigates whether balance-sheet conditions of firms and their main banks matter for firm investment behavior using dynamic corporate panel data in Japan for the period 1985-95. It finds that smaller non-bond issuing firms were facing liquidity constraints; these firms’ balance-sheet conditions (the debt asset ratios) affected their investment from the midst of the bubble era by influencing main banks’ lending to them; and the deterioration of their main banks’ balance-sheet conditions constrained these firms’ investment from about 1993. These findings highlight the potential macroeconomic impact and importance of the credit channel of monetary policy, and support the case of a credit crunch facing small Japanese firms during this period.

This Book was ranked at 30 by Google Books for keyword Credit channel.

Book ID of Firm Investment and Balance-Sheet Problems in Japan's Books is OL8uVAPdDfQC, Book which was written byMr. Toshitaka Sekinehave ETAG "xW058CRaK/M"

Book which was published by International Monetary Fund since 1999-08-01 have ISBNs, ISBN 13 Code is 9781452790596 and ISBN 10 Code is 1452790590

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Book which have "32 Pages" is Printed at BOOK under CategoryBusiness and Economics

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