Banking crisis and productivity of borrowing firms: Evidence from Japan

Fumio Akiyoshi, Keiichiro Kobayashi

研究成果: Article査読

7 被引用数 (Scopus)

抄録

We investigate the effects of bank distress on the productivity of borrowing firms by using data on listed companies in the Japanese manufacturing industry during the 1990s. We find that deterioration in the financial health of banks, which is measured by a decline in the capital-asset ratio, decreased the productivity of their borrowers during the period of the severe financial crisis (FY1997-1998). Our finding empirically confirms the theoretical view that an increase in financial friction negatively affects the productivity of the corporate sector.

本文言語English
ページ(範囲)141-150
ページ数10
ジャーナルJapan and The World Economy
22
3
DOI
出版ステータスPublished - 2010 8

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学
  • 政治学と国際関係論

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