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Balance Sheet Repair and Corporate Investment in Japan
2014
IMF Working Papers
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
doi:10.5089/9781498323628.001
fatcat:k7lwypse7nhkbbnx3yuqf4tzt4