Small and Medium Enterprises, Economic Development and Financial Institute

在这个项目中，我从理论、经验和历史的角度分析了中小企业在金融市场中面临的问题以及金融机构在发展中经济体中的作用。不完全信息和交易成本是这些分析中的关键概念。此外，对中小企业的经济政策在日本是一个重要的政治问题，因此对中小企业的融资不仅与经济有关，而且与政治有关。在发展中国家，农村地区的信贷系统和金融机构的发展对其增长率有至关重要的影响。自从我担任早稻田大学21世纪COE项目(21 COE-GLOPE)的负责人以来，我一直在推动这项研究，将其与21 COE-GLOPE的主题联系起来，并专注于这些问题的制度层面。今年我所做的研究成果如下：(1)在中小企业融资研究方面，我有两篇论文。其中一本是铃木K.Suzuki合著的《中小企业与贷款市场：贷款利率的面板数据分析》，另一本是T.Bushimata合著的《中小企业金融概论》第二版。(2)在与21 Coe-GLOPE相关的研究中，我共同编辑了两本政治经济学书籍，每本书都写了一个关于政治和经济制度的章节

In this project I have analyzed the problems which small and medium enterprises (SME) face in financial markets and the roles of financial institutions in developing economies from theoretical, empirical and historical perspectives. Imperfect information and transactions cost are key concepts in these analyses. Moreover, economic policy toward SME is an important political issue in Japan so that finance for SME is related to not only economics but also politics. In developing countries, credit systems in rural areas and development in financial institutions affect crucially their growth rates. Since I have served the leader of Waseda University 21 century COE program (21 COE-GLOPE), I have promoted this research, relating it to the topics of 21 COE-GLOPE and focusing on institutional aspects of these problems. Research results I have done this year are as follows.(1)In the research on finance for SME, I have two publications. One of them is "Small and Medium Enterprises and Loan Market : Panel Data Analysis of Loan Rate of Interest," coauthored by K.Suzuki and the other is Introduction to Finance for Small and Medium Enterprises, 2nd edition, edited jointly by T.Bushimata.(2)In the research related to 21 COE-GLOPE, I co-edited two books on political economy and wrote one chapter on political and economic institutions in each book