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What Role Can Financial Policies Play in Revitalizing SMEs in Japan?

The paper discusses the role the financial sector can play in supporting growth in Japan. While overall credit conditions have been accommodative, credit growth has remained weak, especially for small and medium-sized enterprises (SMEs). Firm-level SME data and sectoral corporate balance sheets show that many SMEs have faced structural challenges of high leverage and low profitability. Moreover, the global financial crisis has weakened the financial position across SMEs, particularly for those with low credit worthiness. These challenges are closely related to low availability of riskcapital and the pervasiveness of credit support measures. This paper argues that to encourage the supply of risk-based capital, costly government support measures should be phased out and SME restructuring be accelerated. Efforts are also needed to deepen capital markets to enhance risk capital availability and address regulatory barriers to starting businesses. In that regard, addressing SMEweaknesses would improve private investment, enhance firm productivity, and lift growth.

The global financial crisis further weakened the financial performance across
SMEs, particularly for those with low credit worthiness. Using firm-level data from
the Credit Risk Database (CRD), several financial indicators can be computed ...

Our Clothes

There are all kinds of clothes and many reasons for wearing them. This information will help children make responsible and healthy decisions when selecting their own clothes. This text also includes a procedural text, 'How to make a party hat' and a pictorial time line.

This information will help children make responsible and healthy decisions when selecting their own clothes. This text also includes a procedural text, 'How to make a party hat' and a pictorial time line.

Our Bodies

This text helps children to understand their bodies and how the different parts work. Other text forms include verse.

This text helps children to understand their bodies and how the different parts work. Other text forms include verse.

Living and Growing

This text encourages children to value and respect themselves while taking increasing responsibility for their own health and well-being. Each chapter will require much discussion. Other text forms include a recount (letter) and a pictorial time line.

This text encourages children to value and respect themselves while taking increasing responsibility for their own health and well-being.

Living with Others

This book is about living, working and playing co-operatively with others. It will help children to understand what they know about themselves and their relationships with others around them. Other text forms include a recount (diary).

This book is about living, working and playing co-operatively with others. It will help children to understand what they know about themselves and their relationships with others around them. Other text forms include a recount (diary).

Taking Care of Ourselves

This is the first of six non-fiction books centered on the theme 'Looking at Ourselves'. The text encourages children to value themselves and make informed choices. Text forms included explanation and verse.

This is the first of six non-fiction books centered on the theme 'Looking at Ourselves'. The text encourages children to value themselves and make informed choices. Text forms included explanation and verse.