| Description |
1 online resource (21 pages) : color illustrations |
| Series |
IMF working paper ; WP/14/141 |
|
IMF working paper ; WP/14/141.
|
| Contents |
Cover; Contents; I. Introduction; II. Corporate Sector Balance Sheet Developments; Tables; 1. Summary of Nonfinancial Corporate Sector Balance Sheet; Figures; 1. Net Worth; 2. Retained Earnings; 3. Gross Debt; 4. Currency and Deposit Holdings; 5. Overseas Investment; 6. Nonfinancial Assest; 7. Real Business Investment; III. Corporate Investment; 8. Change in Equity Holdings; 9. Land; 10. Contributions to Growth; 11. Investment; 2. Accelerator Model; 3. Model with Financial Market Data; 4. Augmented Tobin's Q Model; 12. Real Investments-to-Capital Stock Ratio |
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13. Contribution to Changes in I/K RatioIV. Policy Implication; V. Conclusion; References; Appendices; I. Corporate Sector Balance Sheet; II. Data |
| Summary |
We trace Japanese firms' behavior over the last decades using aggregate corporate balance sheet data. Financial health of Japanese corporate sector has improved and firms paid back significant amount of debt and rebuilt their liquidity buffers. They also expanded abroad while the pace of corporate investment moderated. Regarding the latter, model estimates on aggregate corporate investment over the post bubble period show that expectation about future profitability, in particular medium-term demand outlook, has been the major driver, implying that a successful implementation of structural reforms could have positive impact even in the near term by improving the medium-term demand outlook. --Abstract |
| Notes |
"Asia and Pacific Department"--Page 2 of pdf |
|
"August 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references (pages 16-17) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed on August 13, 2014) |
| Subject |
Financial statements -- Japan
|
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Corporations, Japanese.
|
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Investments, Japanese.
|
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Corporations, Japanese
|
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Financial statements
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Investments, Japanese
|
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Japan
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. Asia and Pacific Department, issuing body.
|
| ISBN |
9781498396066 |
|
1498396062 |
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