Economic Conditions and Japanese Firm Financing

Guy Yamashiro () and Iichiro Uesugi
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Guy Yamashiro: California State University, Long Beach

Economics Bulletin, 2006, vol. 5, issue 12, 1-17

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.

Keywords: Business; Cycles (search for similar items in EconPapers)
JEL-codes: E0 G3 (search for similar items in EconPapers)
Date: 2006-08-28
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