-
May 2025
The Economics of SME Finance
RIETI Books (English)
-
May 29, 2025
Changing Financing Practices and Testing On-site Implementation: Towards the Establishment of Financing Practices that do not Rely on Management Guarantees
Symposiums
-
March 3, 2025
Financial intermediation and zombie firms: Theory and evidence
VoxEU Column
-
October 31, 2024
RIETI International workshop on financial intermediation and firm dynamics
Workshops
-
June 13, 2024
The Approaching “World with Interest Rates”: Drastic restructuring required for financially distressed companies
Newspapers & Magazines
-
May 9, 2024
Study Group on Corporate Finance and Firm Dynamics
Industrial Economy
-
January 2024
Imperfect Take-up of COVID-19 Business Support Programs
Discussion Papers (English)
-
December 2023
Anatomy of Out-of-court Debt Workouts for SMEs
Discussion Papers (English)
-
May 2023
Unsecured Loans and Intangible Investment
Discussion Papers (English)
-
December 22, 2022
What Is Necessary for SMEs to Exit from the Economic Crisis under the COVID-19 Pandemic? Improving profitability to repay financial support
RIETI Report
-
January 13, 2023
The Economics of SME Finance: The roles of financial institutions and the government
BBL Seminars
-
December 20, 2022
What Is Necessary for SMEs to Exit from the Economic Crisis under the COVID-19 Pandemic? Improving profitability to repay financial support
Newspapers & Magazines
-
November 7, 2022
RIETI Faculty Fellow UESUGI Iichiro’s book was awarded the 65th Nikkei Prize for Excellent Books in Economic Science
Recent Activities
-
July 2022
The Economics of SME Finance: The roles of financial institutions and the government
RIETI Books (Japanese)
-
October 19, 2021
Study group on corporate finance and firm dynamics
Industrial Economy
-
July 2021
Results of a Firm Survey after the Spread of COVID-19 in Japan
(Revised) Firms' Responses and Policy Measures to the COVID-19 Pandemic: An analysis based on a firm surveyDiscussion Papers (Japanese)
-
April 8, 2020
Study Group on Corporate Finance and Firm Dynamics
Industry Frontiers
-
June 2019
Damage to the Transportation Infrastructure and Disruption of Inter-firm Transactional Relationships
Discussion Papers (English)
-
February 2019
Geography and Realty Prices: Evidence from International Transaction-Level Data
Discussion Papers (English)
-
February 2019
The Extent and Efficiency of Credit Reallocation during Economic Downturns
Discussion Papers (English)
-
July 2018
Reallocation of Tangible Assets and Productivity
Discussion Papers (English)
-
April 20, 2018
Competitiveness of SMEs: Exploring possibilities of unsecured financing
Newspapers & Magazines
-
December 14, 2017
Hitotsubashi-RIETI International Workshop on Real Estate and the Macro Economy
Workshops
-
August 23, 2017
Impaired Loss Accounting Does Not Affect Firms’ Investment
Newspapers & Magazines
-
July 4, 2017
Study Group on Corporate Finance and Firm Dynamics
Industry Frontiers
-
July 3, 2017
Reforming Japan’s Credit Guarantee Program for Small and Medium-sized Enterprises
Column
-
October 13, 2016
Hitotsubashi-RIETI International Workshop on Real Estate Market, Productivity, and Prices
Workshops
-
May 2017
When Japanese Banks Become Pure Creditors: Effects of declining shareholding by banks on bank lending and firms' risk taking
Discussion Papers (English)
-
April 2017
Does Impaired Loss Accounting Affect Firms' Investment? Evidence from Japan
Discussion Papers (Japanese)
-
March 2017
Adverse Selection versus Moral Hazard in Financial Contracting: Evidence from collateralized and non-collateralized loans
Discussion Papers (English)
-
May 31, 2016
Study on Corporate Finance and Firm Dynamics
Industry Frontiers
-
March 2016
Non-personal Guaranteed Loans, Credit Availability, and Firm Performance
Discussion Papers (Japanese)
-
January 2016
Natural Disasters and Firm Dynamics
Research Digest
-
August 10, 2015
Rethinking the Government's Policy for Small and Medium-sized Enterprises: Make a clear distinction between emergency measures and support measures in normal times
Newspapers & Magazines
-
July 3, 2015
Quantitative Assessment of the Roles Played by Governmental Financial Institutions for SMEs
Column
-
July 2015
Heterogeneous Impact of Real Estate Prices on Firm Investment
Discussion Papers (English)
-
June 15, 2015
RIETI-MoFiR-Hitotsubashi-JFC International Workshop on Banking and Financial Research
Workshops
-
June 2015
Summary of the Survey on the Aftermath of SME Financing Facilitation Act
Discussion Papers (Japanese)
-
June 2015
The Economics of Interfirm Networks
Other Publications (English)
-
December 15, 2014
Hitotsubashi-RIETI International Workshop on Real Estate Market and the Macro Economy
Workshops
-
September 2014
Effects of Lending Relationships with Government Banks on Firm Performance: Evidence from a Japanese government bank for small businesses
Discussion Papers (Japanese)
-
August 2014
Natural Disaster and Natural Selection
Discussion Papers (English)
-
August 2014
Transaction Partners and Firm Relocation Choice: Evidence from the Tohoku Earthquake
Discussion Papers (English)
-
February 2014
Financial Shocks and Firm Exports: A natural experiment approach with a massive earthquake
Discussion Papers (English)
-
June 19, 2013
Study on Corporate Finance and Firm Dynamics
New Industrial Policy
-
March 2013
Role of Inter-firm Transactions on Industrial Agglomeration: Evidence from Japanese firm-level data
Discussion Papers (English)
-
November 29, 2012
Economics of Interfirm Networks
Workshops
-
October 2012
Natural Disasters, Damage to Banks, and Firm Investment
Discussion Papers (English)
-
April 2012
Localization of Interfirm Transaction Relationships and Industry Agglomeration
Discussion Papers (English)
-
April 2012
The Effects of a Megabank Merger on Firm-Bank Relationships and Borrowing Costs
Discussion Papers (English)
-
January 2012
Natural Disasters and Firm Dynamics
Policy Discussion Papers (Japanese)
-
December 7, 2011
Overlapping Indebtedness from the Viewpoint of Economics: Adequate restraint needed for new loans
Newspapers & Magazines
-
November 15, 2011
Toward Sustainable Economic Growth Following the Great East Japan Earthquake: Restructuring of the economic infrastructure and policy response
Symposiums
-
June 15, 2011
Research on Efficient Corporate Financing and Inter-firm Networks
Special Projects
-
March 2011
Are Lending Relationships Beneficial or Harmful for Public Credit Guarantees? Evidence from Japan's Emergency Credit Guarantee Program
Discussion Papers (English)
-
February 7, 2011
SME Financing in Japan: Characteristics and problems, predominance of low-interest rate loans
Newspapers & Magazines
-
August 2010
Repayment Enforcement and Informational Advantages: Empirical determinants of trade credit use
Discussion Papers (English)
-
June 2010
Measuring Economic Localization: Evidence from Japanese firm-level data
Discussion Papers (English)
-
July 3, 2009
Financial Crisis and the Future of the Japanese Economy
Symposiums
-
July 2009
The Current Status of SME Financing under the Financial Crisis:
A summary of the Survey on the Status of Transactions between Businesses and Financial Institutions (Feb. 2008) and the Survey on the Status of Transactions between Businesses and FinanDiscussion Papers (Japanese)
-
February 10, 2009
Despite More Customers, SMEs Fail to Boost Profits: "Networking ability" is the key
Newspapers & Magazines
-
October 2008
The Effects of Collateral on SME Performance in Japan
Discussion Papers (English)
-
September 2008
Empirical Analysis of SME Financing in Japan
- Examining commonly-held viewsRIETI Books (Japanese)
-
June 20, 2006
Is a Complete Departure from Collateral-based Lending Needed?
Column
-
February 16, 2006
Japan's Financial System: Revisiting the Relationship between Corporations and Financial Institutions
Symposiums
-
February 7, 2006
Is the Government's Intervention in the Bank Loan Market Justifiable?: Examining the Effect of the Special Credit Guarantee Program
Column
-
February 2006
Effectiveness of Credit Guarantees in the Japanese Loan Market
Discussion Papers (English)
-
November 2005
The Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's Small Business Loan Market
Discussion Papers (English)
-
November 2005
Firm Age and the Evolution of Borrowing Costs: Evidence from Japanese Small Firms
Discussion Papers (English)
-
June 23, 2005
Lifecycle of Small and Medium Enterprises and Revitalization of the Japanese Economy
Symposiums
-
May 17, 2005
Are Japanese Companies Subject to Natural Selection or Unnatural Selection?
Column
-
January 26, 2005
SME Financing in Japan: What We Have Found
Keizai Sangyo Journal
-
October 27, 2004
Empirical Analysis of Small Business Financing
Keizai Sangyo Journal
-
September 2004
How Trade Credit Differs from Loans: Evidence from Japanese Trading Companies
Discussion Papers (English)
-
August 2004
Trading Firm Finance: The Relationship between Trade Credit and Loans
Discussion Papers (Japanese)
-
January 20, 2004
Corporate Social Responsibility and Socially Responsible Investment
Column
-
January 20, 2004
013: Corporate Social Responsibility and Socially Responsible Investment
Corporate Governance Japan
-
May 2003
On the Relationship Between the Very Short Forward and the Spot Interest Rate
Discussion Papers (English)
-
April 24, 2003
Japan's Deflation Problem and Prescription <RIETI Featured Fellow> UESUGI Iichiro
RIETI Report
-
March 18, 2003
Round 7: The Government and the Bank of Japan should Formulate a Policy Accord to Pull Japan out of Deflation
RIETI Policy Debate
-
February 18, 2003
What will it Take for the Government and the Bank of Japan to Unite? - Just as Important as Who will Head the BOJ and Whether or not to Introduce Inflation Targeting -
Column
-
May 9, 2024
Study Group on Corporate Finance and Firm Dynamics
Industrial Economy
-
October 19, 2021
Study group on corporate finance and firm dynamics
Industrial Economy
-
April 8, 2020
Study Group on Corporate Finance and Firm Dynamics
Industry Frontiers
-
July 4, 2017
Study Group on Corporate Finance and Firm Dynamics
Industry Frontiers
-
May 31, 2016
Study on Corporate Finance and Firm Dynamics
Industry Frontiers
-
June 19, 2013
Study on Corporate Finance and Firm Dynamics
New Industrial Policy
-
June 15, 2011
Research on Efficient Corporate Financing and Inter-firm Networks
Special Projects
-
January 20, 2004
013: Corporate Social Responsibility and Socially Responsible Investment
Corporate Governance Japan
-
January 2024
Imperfect Take-up of COVID-19 Business Support Programs
Discussion Papers (English)
-
December 2023
Anatomy of Out-of-court Debt Workouts for SMEs
Discussion Papers (English)
-
May 2023
Unsecured Loans and Intangible Investment
Discussion Papers (English)
-
July 2021
Results of a Firm Survey after the Spread of COVID-19 in Japan
(Revised) Firms' Responses and Policy Measures to the COVID-19 Pandemic: An analysis based on a firm surveyDiscussion Papers (Japanese)
-
June 2019
Damage to the Transportation Infrastructure and Disruption of Inter-firm Transactional Relationships
Discussion Papers (English)
-
February 2019
Geography and Realty Prices: Evidence from International Transaction-Level Data
Discussion Papers (English)
-
February 2019
The Extent and Efficiency of Credit Reallocation during Economic Downturns
Discussion Papers (English)
-
July 2018
Reallocation of Tangible Assets and Productivity
Discussion Papers (English)
-
May 2017
When Japanese Banks Become Pure Creditors: Effects of declining shareholding by banks on bank lending and firms' risk taking
Discussion Papers (English)
-
April 2017
Does Impaired Loss Accounting Affect Firms' Investment? Evidence from Japan
Discussion Papers (Japanese)
-
March 2017
Adverse Selection versus Moral Hazard in Financial Contracting: Evidence from collateralized and non-collateralized loans
Discussion Papers (English)
-
March 2016
Non-personal Guaranteed Loans, Credit Availability, and Firm Performance
Discussion Papers (Japanese)
-
January 2016
Natural Disasters and Firm Dynamics
Research Digest
-
July 2015
Heterogeneous Impact of Real Estate Prices on Firm Investment
Discussion Papers (English)
-
June 2015
Summary of the Survey on the Aftermath of SME Financing Facilitation Act
Discussion Papers (Japanese)
-
September 2014
Effects of Lending Relationships with Government Banks on Firm Performance: Evidence from a Japanese government bank for small businesses
Discussion Papers (Japanese)
-
August 2014
Natural Disaster and Natural Selection
Discussion Papers (English)
-
August 2014
Transaction Partners and Firm Relocation Choice: Evidence from the Tohoku Earthquake
Discussion Papers (English)
-
February 2014
Financial Shocks and Firm Exports: A natural experiment approach with a massive earthquake
Discussion Papers (English)
-
March 2013
Role of Inter-firm Transactions on Industrial Agglomeration: Evidence from Japanese firm-level data
Discussion Papers (English)
-
October 2012
Natural Disasters, Damage to Banks, and Firm Investment
Discussion Papers (English)
-
April 2012
Localization of Interfirm Transaction Relationships and Industry Agglomeration
Discussion Papers (English)
-
April 2012
The Effects of a Megabank Merger on Firm-Bank Relationships and Borrowing Costs
Discussion Papers (English)
-
January 2012
Natural Disasters and Firm Dynamics
Policy Discussion Papers (Japanese)
-
March 2011
Are Lending Relationships Beneficial or Harmful for Public Credit Guarantees? Evidence from Japan's Emergency Credit Guarantee Program
Discussion Papers (English)
-
August 2010
Repayment Enforcement and Informational Advantages: Empirical determinants of trade credit use
Discussion Papers (English)
-
June 2010
Measuring Economic Localization: Evidence from Japanese firm-level data
Discussion Papers (English)
-
July 2009
The Current Status of SME Financing under the Financial Crisis:
A summary of the Survey on the Status of Transactions between Businesses and Financial Institutions (Feb. 2008) and the Survey on the Status of Transactions between Businesses and FinanDiscussion Papers (Japanese)
-
October 2008
The Effects of Collateral on SME Performance in Japan
Discussion Papers (English)
-
February 2006
Effectiveness of Credit Guarantees in the Japanese Loan Market
Discussion Papers (English)
-
November 2005
The Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's Small Business Loan Market
Discussion Papers (English)
-
November 2005
Firm Age and the Evolution of Borrowing Costs: Evidence from Japanese Small Firms
Discussion Papers (English)
-
September 2004
How Trade Credit Differs from Loans: Evidence from Japanese Trading Companies
Discussion Papers (English)
-
August 2004
Trading Firm Finance: The Relationship between Trade Credit and Loans
Discussion Papers (Japanese)
-
May 2003
On the Relationship Between the Very Short Forward and the Spot Interest Rate
Discussion Papers (English)
-
May 2025
The Economics of SME Finance
RIETI Books (English)
-
July 2022
The Economics of SME Finance: The roles of financial institutions and the government
RIETI Books (Japanese)
-
June 2015
The Economics of Interfirm Networks
Other Publications (English)
-
September 2008
Empirical Analysis of SME Financing in Japan
- Examining commonly-held viewsRIETI Books (Japanese)
-
May 29, 2025
Changing Financing Practices and Testing On-site Implementation: Towards the Establishment of Financing Practices that do not Rely on Management Guarantees
Symposiums
-
October 31, 2024
RIETI International workshop on financial intermediation and firm dynamics
Workshops
-
January 13, 2023
The Economics of SME Finance: The roles of financial institutions and the government
BBL Seminars
-
December 14, 2017
Hitotsubashi-RIETI International Workshop on Real Estate and the Macro Economy
Workshops
-
October 13, 2016
Hitotsubashi-RIETI International Workshop on Real Estate Market, Productivity, and Prices
Workshops
-
June 15, 2015
RIETI-MoFiR-Hitotsubashi-JFC International Workshop on Banking and Financial Research
Workshops
-
December 15, 2014
Hitotsubashi-RIETI International Workshop on Real Estate Market and the Macro Economy
Workshops
-
November 29, 2012
Economics of Interfirm Networks
Workshops
-
November 15, 2011
Toward Sustainable Economic Growth Following the Great East Japan Earthquake: Restructuring of the economic infrastructure and policy response
Symposiums
-
July 3, 2009
Financial Crisis and the Future of the Japanese Economy
Symposiums
-
February 16, 2006
Japan's Financial System: Revisiting the Relationship between Corporations and Financial Institutions
Symposiums
-
June 23, 2005
Lifecycle of Small and Medium Enterprises and Revitalization of the Japanese Economy
Symposiums
-
March 3, 2025
Financial intermediation and zombie firms: Theory and evidence
VoxEU Column
-
June 13, 2024
The Approaching “World with Interest Rates”: Drastic restructuring required for financially distressed companies
Newspapers & Magazines
-
December 22, 2022
What Is Necessary for SMEs to Exit from the Economic Crisis under the COVID-19 Pandemic? Improving profitability to repay financial support
RIETI Report
-
December 20, 2022
What Is Necessary for SMEs to Exit from the Economic Crisis under the COVID-19 Pandemic? Improving profitability to repay financial support
Newspapers & Magazines
-
April 20, 2018
Competitiveness of SMEs: Exploring possibilities of unsecured financing
Newspapers & Magazines
-
August 23, 2017
Impaired Loss Accounting Does Not Affect Firms’ Investment
Newspapers & Magazines
-
July 3, 2017
Reforming Japan’s Credit Guarantee Program for Small and Medium-sized Enterprises
Column
-
August 10, 2015
Rethinking the Government's Policy for Small and Medium-sized Enterprises: Make a clear distinction between emergency measures and support measures in normal times
Newspapers & Magazines
-
July 3, 2015
Quantitative Assessment of the Roles Played by Governmental Financial Institutions for SMEs
Column
-
December 7, 2011
Overlapping Indebtedness from the Viewpoint of Economics: Adequate restraint needed for new loans
Newspapers & Magazines
-
February 7, 2011
SME Financing in Japan: Characteristics and problems, predominance of low-interest rate loans
Newspapers & Magazines
-
February 10, 2009
Despite More Customers, SMEs Fail to Boost Profits: "Networking ability" is the key
Newspapers & Magazines
-
June 20, 2006
Is a Complete Departure from Collateral-based Lending Needed?
Column
-
February 7, 2006
Is the Government's Intervention in the Bank Loan Market Justifiable?: Examining the Effect of the Special Credit Guarantee Program
Column
-
May 17, 2005
Are Japanese Companies Subject to Natural Selection or Unnatural Selection?
Column
-
January 26, 2005
SME Financing in Japan: What We Have Found
Keizai Sangyo Journal
-
October 27, 2004
Empirical Analysis of Small Business Financing
Keizai Sangyo Journal
-
January 20, 2004
Corporate Social Responsibility and Socially Responsible Investment
Column
-
April 24, 2003
Japan's Deflation Problem and Prescription <RIETI Featured Fellow> UESUGI Iichiro
RIETI Report
-
March 18, 2003
Round 7: The Government and the Bank of Japan should Formulate a Policy Accord to Pull Japan out of Deflation
RIETI Policy Debate
-
February 18, 2003
What will it Take for the Government and the Bank of Japan to Unite? - Just as Important as Who will Head the BOJ and Whether or not to Introduce Inflation Targeting -
Column
