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What role can financial policies play in revitalizing SMEs in Japan? /
The paper discusses the role the financial sector can play in supporting growth in Japan. While overall credit conditions have been accommodative, credit growth has remained weak, especially for small and medium-sized enterprises (SMEs). Firm-level SME data and sectoral corporate balance sheets show...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
Ã2012.
|
| Colección: | IMF working paper ;
WP/12/291. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Lam, W. Raphael. | |
| 245 | 1 | 0 | |a What role can financial policies play in revitalizing SMEs in Japan? / |c prepared by W. Raphael Lam and Jongsoon Shin. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c Ã2012. | ||
| 300 | |a 1 online resource (24 pages) | ||
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| 490 | 1 | |a IMF working paper ; |v WP/12/291 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed December 18, 2012). | ||
| 520 | |a The paper discusses the role the financial sector can play in supporting growth in Japan. While overall credit conditions have been accommodative, credit growth has remained weak, especially for small and medium-sized enterprises (SMEs). Firm-level SME data and sectoral corporate balance sheets show that many SMEs have faced structural challenges of high leverage and low profitability. Moreover, the global financial crisis has weakened the financial position across SMEs, particularly for those with low credit worthiness. These challenges are closely related to low availability of risk capital and the pervasiveness of credit support measures. This paper argues that to encourage the supply of risk-based capital, costly government support measures should be phased out and SME restructuring be accelerated. Efforts are also needed to deepen capital markets to enhance risk capital availability and address regulatory barriers to starting businesses. In that regard, addressing SMEweaknesses would improve private investment, enhance firm productivity, and lift growth. | ||
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Asia and Pacific Department." | ||
| 500 | |a "December 2012." | ||
| 505 | 0 | |a Cover; Abstract; Contents; I. Introduction; II. Why is Credit Growth Weak?; Figures; 1. Japan: Credit Conditions; 2. Japan: Factors Contributing to Weak Credit Growth; Tables; 1. Summary Statistics of the Corporate Sector--By Industry and Capital Size; III. How Did SMEs Fare During the Global Financial Crisis?; 2. SMEs' Performance and Soundness, by Risk Ratings; 3. Regression Estimates on Corporate Adjusted Net Profit; 3. Estimated Coefficients on Interactive Dummy Variables; 4. Financial Performance of SMEs, by Risk Groups. | |
| 505 | 8 | |a IV. Growth Challenges of SMEs: Slow Restructuring and Limited Availability of Risk Capital5. Japan: Slow SME Restructuring; A. Why Have SMEs Been Slow to Restructure?; 4. Government Credit Guarantee Schemes; B. Why is the Access and Availability of Risk-Based Capital Limited?; 6. Limited Availability of Risk-based Capital and Business Transfers; V. Policy Options to Support Credit Growth; 7. Japan: Market Practices and Regulatory Factors that Limit Risk-based Capital; VI. Conclusion; References. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Small business |z Japan. | |
| 650 | 7 | |a Small business |2 fast | |
| 651 | 7 | |a Japan |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJkT7GyCmyjxytDfqk6Yfq | |
| 700 | 1 | |a Shin, Jongsoon. | |
| 710 | 2 | |a International Monetary Fund. |b Asia and Pacific Department. | |
| 758 | |i has work: |a What role can financial policies play in revitalizing SMEs in Japan? (Text) |1 https://id.oclc.org/worldcat/entity/E39PCG3pkF3gR7fhgGfRpfRfC3 |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 830 | 0 | |a IMF working paper ; |v WP/12/291. | |
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