RIETI - UESUGI Iichiro

Expertise

Banking, Corporate Finance, Small and Medium Enterprises, Japanese Economy

Research Projects

Study group on corporate finance and firm dynamics (November 1, 2021 - April 30, 2024)
Study Group on Corporate Finance and Firm Dynamics (November 11, 2019 - October 31, 2021)
Study Group on Corporate Finance and Firm Dynamics (July 14, 2017 - June 30, 2019)
Study on Corporate Finance and Firm Dynamics (May 11, 2015 - March 31, 2017)
Study on Corporate Finance and Firm Dynamics (June 19, 2013 - March 31, 2015)
Research on Efficient Corporate Financing and Inter-firm Networks (June 15, 2011 - March 31, 2013)
Study Group on Changes in Financial and Industrial Structures (2006)

Education

2000 Ph.D., Economics University of California, San Diego
1993 Bachelor of Economics, the University of Tokyo

Experience

2015 - Professor, Institute of Economic Research, Hitotsubashi University
2011 Associate Professor, Institute of Economic Research, Hitotsubashi University
2010 - 2011 Senior Fellow (Adjunct), RIETI
2010 Attached to Economic Policy Unit, Minister's Secretariat, METI
2007 - 2010 Associate Professor, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University
2006 - 2007 Consulting Fellow, RIETI / Deputy Director, Research Office, Business Environment Department, Small and Medium Enterprise Agency, METI
2002 Fellow, RIETI
2000 Macroeconomic Affairs Division, Economic and Industrial Policy Bureau, METI
1995 Planning Division, Coal Department, Agency of Natural Resources and Energy, MITI
1993 Research Division, Industrial Policy Bureau, Ministry of International Trade and Industry (MITI)

Selected Publications and Papers

Refereed Articles

Arito Ono, Hirofumi Uchida, Gregory F. Udell, and Iichiro Uesugi, "Lending Pro-Cyclicality and Macro-Prudential Policy: Evidence from Japanese LTV Ratios," Journal of Financial Stability, 100819, April 2021.
https://doi.org/10.1016/j.jfs.2020.100819
Makoto Hazama and Iichiro Uesugi, "Measuring the Systemic Risk in Interfirm Transaction Networks," Journal of Economic Behavior and Organization 137, pp. 259-281, May 2017.
Kaoru Hosono, Daisuke Miyakawa, Taisuke Uchino, Makoto Hazama, Arito Ono, Hirofumi Uchida, and Iichiro Uesugi, "Natural Disasters, Damage to Banks, and Firm Investment," International Economic Review 57(4), pp. 1335–1370, November 2016.
Hirofumi Uchida, Daisuke Miyakawa, Kaoru Hosono, Arito Ono, Taisuke Uchino, and Iichiro Uesugi, "Financial Shocks, Bankruptcy, and Natural Selection," Japan and the World Economy 36, pp. 123–135, November 2015.
Arito Ono and Iichiro Uesugi, "SME Financing in Japan during the Global Financial Crisis: Evidence from Firm Surveys," International Review of Entrepreneurship 12(4), pp. 191–218, 2014.
Arito Ono, Iichiro Uesugi, and Yukihiro Yasuda, "Are Lending Relationships Beneficial or Harmful for Public Credit Guarantees? Evidence from Japan's Emergency Credit Guarantee Program," Journal of Financial Stability 9(2), pp. 151-167, June 2013.
Kentaro Nakajima, Yukiko Saito, and Iichiro Uesugi, "Measuring Economic Localization: Evidence from Japanese Firm-level Data," Journal of the Japanese and International Economies 26(2), pp.201-220, June 2012.
Arito Ono, Koji Sakai, and Iichiro Uesugi, "The Effects of Collateral on Firm Performance," Journal of the Japanese and International Economies 26(1), pp. 84-109, March 2012.
Iichiro Uesugi, Koji Sakai, and Guy M. Yamashiro, "The Effectiveness of Public Credit Guarantees in the Japanese Loan Market," Journal of the Japanese and International Economies 24(4), pp. 457-480, December 2010.
Koji Sakai, Iichiro Uesugi, and Tsutomu Watanabe, "Firm Age and the Evolution of Borrowing Costs: Evidence from Japanese Small Firms," Journal of Banking and Finance 34(8), pp. 1970-1981, August 2010.
Arito Ono and Iichiro Uesugi, "Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's SME Loan Market," Journal of Money, Credit, and Banking 41(5), pp. 935-960, August 2009.
Iichiro Uesugi and Guy M. Yamashiro, "The Relationship between Trade Credit and Loans: Evidence from Small Businesses in Japan," International Journal of Business 13(2), pp. 141-164, Spring 2008.
Iichiro Uesugi and Guy M. Yamashiro, "Economic Conditions and Japanese Firm Financing," Economics Bulletin 5(12), pp. 1-17, August 2006.
Iichiro Uesugi and Guy M. Yamashiro, "Trading Company Finance in Japan," International Journal of Business 11(1), pp. 63-80, Winter 2006.
Iichiro Uesugi, "Measuring the Liquidity Effect: The Case of Japan," Journal of the Japanese and International Economies 16(3), pp. 289-316, September 2002.

Working Papers

Tomohito Honda and Iichiro Uesugi, "COVID-19 and Precautionary Corporate Cash Holdings: Evidence from Japan," Covid Economics, 68, pp. 172-204, February 2021.
Kaoru Hosono, Daisuke Miyakawa, Arito Ono, Hirofumi Uchida, and Iichiro Uesugi, "Damage to the Transportation Infrastructure and Disruption of Inter-firm Transactional Relationships," RIETI Discussion Paper 19-E-043, 2019.
Daisuke Miyakawa, Chihiro Shimizu, and Iichiro Uesugi, "Geography and Realty Prices: Evidence from International Transaction-Level Data," RIETI Discussion Paper 19-E-011, 2019.
Koji Sakai and Iichiro Uesugi, "Credit Reallocation, Firm Size, and Productivity," RIETI Discussion Paper 19-E-004, 2019.
Iichiro Uesugi, Kaoru Hosono, Daisuke Miyakawa, Arito Ono, and Hirofumi Uchida, "Reallocation of Tangible Assets and Productivity," RIETI Discussion Paper 18-E-048, 2018.
Arito Ono, Katsushi Suzuki, and Iichiro Uesugi, "When Japanese Banks Become Pure Creditors: Effects of declining shareholding by banks on bank lending and firms' risk taking," RIETI Discussion Paper 17-E-079, 2017.
Hirofumi Uchida, Iichiro Uesugi, and Hiromichi Iwaki, "Adverse Selection versus Moral Hazard in Financial Contracting: Evidence from Collateralized and Non-collateralized Loans," RIETI Discussion Paper 17-E-058, 2017.
Takeshi Mizuta, Chihiro Shimizu, and Iichiro Uesugi, "How Inheritance Affects the Real Estate Market in an Aging Economy: Evidence from Transaction and Registry Data," HIT-REFINED Working Paper No. 62, 2016.
Arito Ono, Yukiko Saito, Koji Sakai, and Iichiro Uesugi, "Does Geographical Proximity Matter in Small Business Lending? Evidence from Changes in Main Bank Relationships," HIT-REFINED Working Paper No. 40, 2016.
Makoto Hazama and Iichiro Uesugi, "Heterogeneous Impact of Real Estate Prices on Firm Investment," RIETI Discussion Paper 15-E-091, 2015.
Taisuke Uchino and Iichiro Uesugi, "The Effects of a Megabank Merger on Firm-Bank Relationships and Borrowing Costs," Design of Interfirm Network to Achieve Sustainable Economic Growth
Working Paper No.26, 2015.
Hirofumi Uchida, Daisuke Miyakawa, Kaoru Hosono, Arito Ono, Taisuke Uchino, and Iichiro Uesugi, "Natural Disaster and Natural Selection," RIETI Discussion Paper 14-E-055, 2014.
Arito Ono, Daisuke Miyakawa, Kaoru Hosono, Hirofumi Uchida, Taisuke Uchino, and Iichiro Uesugi, "Transaction Partners and Firm Relocation Choice: Evidence from the Tohoku Earthquake," RIETI Discussion Paper 14-E-054, 2014.
Daisuke Miyakawa, Kaoru Hosono, Taisuke Uchino, Arito Ono, Hirofumi Uchida, and Iichiro Uesugi, "Financial Shocks and Firm Exports: A natural experiment approach with a massive earthquake" RIETI Discussion Paper 14-E-010, 2014.
Kentaro Nakajima, Yukiko Saito, and Iichiro Uesugi, "Localization of Interfirm Transaction Relationships and Industry Agglomeration," RIETI Discussion Paper 12-E-023, 2012.
Hirofumi Uchida, Iichiro Uesugi, Masaki Hotei, "Repayment enforcement and informational advantages: Empirical determinants of trade credit use," RIETI Discussion Paper 10-E-041, 2010.

Books

Tsutomu Watanabe, Iichiro Uesugi, and Arito Ono (Eds.), The Economics of Interfirm Networks, Advances in Japanese Business and Economics Vol. 4, Tokyo: Springer, 2015.
Hirofumi Uchida, Arito Ono, Souichirou Kozuka, Makoto Hazama, and Iichiro Uesugi, Interfirm Relationships and Trade Credit in Japan: Evidence from Micro-Data, Springer Briefs in Economics, Tokyo: Springer, 2015.