A Comparison of Japanese Corporate Finance Between the High Growth Period and the Bubble Economy: Eichner-Kaleckian Modelling And An Analysis

Kanao, T. (1999) A Comparison of Japanese Corporate Finance Between the High Growth Period and the Bubble Economy: Eichner-Kaleckian Modelling And An Analysis. Discussion Paper No 266, Department of Economics, The University of Queensland.

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Author Kanao, T.
Title A Comparison of Japanese Corporate Finance Between the High Growth Period and the Bubble Economy: Eichner-Kaleckian Modelling And An Analysis
School, Department or Centre Department of Economics
Institution The University of Queensland
Report Number Discussion Paper No 266
Publication date 1999-11-01
Subject 340213 Economic Development and Growth
Abstract/Summary The two Japanese economies, the high growth period economy and the Bubble Economy have common features, but they are different in many respects. Though different models for analysing these two economies appear here, they are basically the same. They are based on the Eichner-Kaleckian type models, and the model for the high growth period economy could be located as a special case of the Bubble Economy model. The reason for not applying the latter model to both periods is that not doing so makes the common features and differences of both periods clearer. In both economies, the predetermined or exogenous variables, bank loan interest rate in the high growth period and financial investment return net of risk play key roles. Finally, these Eichner-Kaleckian models seem to contradict Post Keynesian endogenous money supply. It is proven below that this is not true.
Keyword Japan - economics
Japan - economic development
Corporations - finance - Japan
Corporations - finance - econometric models
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