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World Affairs Online
Net worth ratio and financial instability
In order to better understand relationships between the real economy and financial economy, it is necessary to formulate a model of financing. New Keynesian theory emphasizes that a firm's net worth influences investment decisions and business cycles under an imperfect capital market. We have constructed a dynamic model from the standpoint of post Keynesian economics. We incorporate a dynamic equation of a firms net worth ratio and investigate financial factors, which give rise to economic instability. Our results demonstrate that a steady state can be a saddle point when the dividend rate is low and the banks lending reaction to the net worth ratio is more elastic than investment reaction. When the steady state is the saddle, the change in the basic discount rate is likely to shift the economy from an unstable path to a convergence path. Financial policy has a stabilizing effect in the long-run as well as a positive effect in the short-run.
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How Should Japanese ODA be Viewed? The Importance of Support for Self-Help Efforts
In: Asia-Pacific review, Band 13, Heft 2, S. 17-26
ISSN: 1469-2937
The facts of the Asian economic crisis
In: Japan review of international affairs, Band 14, Heft 1, S. 83-95
ISSN: 0913-8773
World Affairs Online
Toward the G8 Okinawa Summit: The Facts of the Asian Economic Crisis
In: Japan review of international affairs, Band 14, Heft 1, S. 83-95
ISSN: 0913-8773
The new shape of East Asian economic development: From dependency to self-reliance
In: Japan review of international affairs, Band 11, Heft 1, S. 40-51
ISSN: 0913-8773
World Affairs Online
Die Ausbreitung industrieller Entwicklung in Ostasien
In: Welt-Trends: das außenpolitische Journal, Heft 8, S. 104-122
ISSN: 0944-8101
World Affairs Online
L'irrésistible ascension du Pacifique Ouest
In: Futuribles: l'anticipation au service de l'action ; revue bimestrielle, S. 3-21
ISSN: 0183-701X, 0337-307X
A new era dawns in the Western Pacific
In: Japan review of international affairs, Band 3, Heft 2, S. 161-181
ISSN: 0913-8773
World Affairs Online
The Western Image of Japanese Art in the Late Edo Period
In: Modern Asian studies, Band 18, Heft 4, S. 667-684
ISSN: 1469-8099
These are two very different assessments of Japanese art and artists both published in London during the 1860s. We may argue that both comments are ill-conceived and prejudiced; yet both in their own way are characteristic Western reactions of the time. In this paper I should like to explore the Western image of Japanese art during the period from 1853 to 1867.
The Western Image of Japanese Art in the Late Edo Period
In: Modern Asian studies, Band 18, Heft 4, S. 667
ISSN: 0026-749X
AN ANALYSIS OF ECONOMIC INTERDEPENDENCE AMONG THE ASIAN NICs, THE ASEAN NATIONS, AND JAPAN
In: The developing economies: the journal of the Institute of Developing Economies, Tokyo, Japan, Band 18, Heft 4, S. 393-411
ISSN: 1746-1049
HEAVY AND CHEMICAL INDUSTRIALIZATION AND ECONOMIC DEVELOPMENT IN THE REPUBLIC OF KOREA
In: The developing economies: the journal of the Institute of Developing Economies, Tokyo, Japan, Band 16, Heft 4, S. 385-407
ISSN: 1746-1049
L'irresistible ascension du Pacifique Ouest
In: Futuribles: l'anticipation au service de l'action ; revue bimestrielle, Heft 150, S. 3, 22
ISSN: 0183-701X, 0337-307X