Structure and Possible Change of the Financial System in Southeast Asia : from the Viewpoint of the Conflict with Industrialization

该项目的重点是东南亚金融体系的基本结构。这些研究涵盖了拥有大型企业微观财务数据数据库的大公司融资，基于问卷数据的中小企业融资，以及对股票和债券市场的分析。该研究还涵盖了该地区过去十年的实体部门增长和资本流动的变化。我们的研究工作揭示了这一领域企业的自筹性质，以及作为政策含义的基金需求侧性质的重要性，而不是供给系统的重要性。

The project focuses on the fundamental structures of financial system in Southeast Asia. The studies cover corporate finance on major firms with large scale database on micro financial data, SME finance with questionnaire-based data, and the analysis on equity and bond market. The research also covers the real sector growth and the change of capital flow in the area in the last decade. Our research effort reveals the self-financing nature of the firms in this area, and the importance of the nature of the demand side of the fund, instead of supply system, as policy implication.