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Policy evaluation of Public Financial Institutions from the view points of flow of funds


  • Manabe Masashi

    () (Graduate School of Economics, Osaka university)


The purpose of this paper is to develop an experimental model which links inter-institutional flow of funds to real macroeconomy and then to estimate quantitatively the effects of changing scale of postal savings or government financial institutions on GDP. The empirical analysis indicates that at least after 1980 expanding size of postal saving and government financial institutions had negative effects on GDP. It implies that reducing scale of public financial institutions could improve the performance of real macroeconomy.

Suggested Citation

  • Manabe Masashi, 2007. "Policy evaluation of Public Financial Institutions from the view points of flow of funds," Discussion Papers in Economics and Business 07-37, Osaka University, Graduate School of Economics.
  • Handle: RePEc:osk:wpaper:0737

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    Flow of funds; Public financial institutions; Postal saving;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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