| Description |
1 online resource (20 pages) : color illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/10/294 |
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IMF working paper ; WP/10/294.
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| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Recent Investment Trends; A. Fixed Investment; 1. Gross Fixed Capital Formation; 2. Business Fixed Investment; 3. Japan: Total Investment by Sector; 4. Japan: Real Exports and Investment; 5. Composition of Investment by Sector; 6. Corporate Indicators; 1. Non-Financial Corporate Indicators; B.R & D Spending; 7. Net Capital Stock per Person Employed; 8. Capital Productivity; 9. R & D Intensity by Sector; 10. G-7: ICT Investment; III. Econometric Analysis: What Explains these Trends?; A. Empirical Strategy |
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B. Results: Fixed Investment11. Japan: Investment, Liquidity, and Leverage; 2. Japan: Determinants of Fixed Investment; 12. Japan: Elasticity of Fixed Investment to Fundamentals; 3. Selected Advanced Economies: Determinants of Fixed Investment; C. Results: R & D Spending; 4. Japan: Determinants of R & D Spending; 13. Japan: Elasticity of R & D Investment to Fundamentals; IV. Policy Implications; 14. Effective Corporate Tax Rates in OECD; 15. G-7: R & D Tax Subsidy Rate; 5. Tax-Loss Carry Forwards; 16. Venture Capital Investment; 17. Souces of Funds for Venture Capital |
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18. SMEs in Early Growth Phase: Desired and Actual Sources for R & D19. FDI Flows; V. Conclusion; Appendix; References; Footnotes |
| Summary |
As labor input in Japan shrinks with population aging, capital accumulation and productivity gains will drive growth over the medium-term. At the same time, a changing global landscape calls for a shift in export-oriented investment toward new markets and a new generation of products, as well as increased investment by domestically-oriented firms. What policies could be adopted to help firms adjust to the imperatives of the post-crisis global economy and boost medium-term growth? Using disaggregated data, this paper investigates the determinants of investment and R & D spending by Japanese firms. The results suggest that policies could usefully focus on four areas. First, raising the return on investment, including through reforms to the tax code. Second, decreasing uncertainty through improved risk management by firms and by bolstering the business climate. Third, improving SME access to finance, notably by encouraging venture capital investment in innovative areas and more risk-based lending. And fourth, reducing excess leverage and supporting corporate restructuring to enable new investments to flourish |
| Notes |
Title from PDF title page(IMF, viewed July 15, 2011) |
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At head of title: Asian Pacific Department |
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"December 2010." |
| Bibliography |
Includes bibliographical references (pages 19-20) |
| Subject |
Economic development -- Japan
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Economic development
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Economic policy
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| SUBJECT |
Japan -- Economic policy.
http://id.loc.gov/authorities/subjects/sh85069409
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| Subject |
Japan
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| Form |
Electronic book
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| Author |
Lee, Jinsook, author
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International Monetary Fund. Asia and Pacific Department, issuing body.
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| ISBN |
1283554658 |
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9781283554657 |
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9781455214969 |
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1455214965 |
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9781455272051 |
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1455272051 |
|
