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Economic Conditions and Japanese Firm Financing

Author

Listed:
  • Guy Yamashiro

    (California State University, Long Beach)

  • Iichiro Uesugi

    (Research Institute of Economy, Trade, and Industry)

Abstract

This paper investigates the role played by non-financial firms in Japanese corporate financing. We find that non-financial firms are an important source of credit for both small and large firms in Japan. We also document that adverse real and financial shocks have similar effects on small and large firm financing. The primary implication of our results is that credit from the non-financial private sector in Japan serves to lessen the adverse impact of real and financial shocks on the economy.

Suggested Citation

  • Guy Yamashiro & Iichiro Uesugi, 2006. "Economic Conditions and Japanese Firm Financing," Economics Bulletin, AccessEcon, vol. 5(12), pages 1-17.
    • Handle: RePEc:ebl:ecbull:eb-06e00001
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Business Cycles;

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • G3 - Financial Economics - - Corporate Finance and Governance

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