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A Comparison of Japanese Corporate Finance Between the High Growth Period and the Bubble Economy: Eichner-Kaleckian Modelling And An Analysis



The two Japanese economies, the high growth period economy and the Bubble Economy have common features, but they are different in many respects. Though different models for analysing these two economies appear here, they are basically the same. They are based on the Eichner-Kaleckian type models, and the model for the high growth period economy could be located as a special case of the Bubble Economy model. The reason for not applying the latter model to both periods is that not doing so makes the common features and differences of both periods clearer. In both economies, the predetermined or exogenous variables, bank loan interest rate in the high growth period and financial investment return net of risk play key roles. Finally, these Eichner-Kaleckian models seem to contradict Post Keynesian endogenous money supply. It is proven below that this is not true.

Suggested Citation

  • T. Kano, 1999. "A Comparison of Japanese Corporate Finance Between the High Growth Period and the Bubble Economy: Eichner-Kaleckian Modelling And An Analysis," Discussion Papers Series 266, School of Economics, University of Queensland, Australia.
  • Handle: RePEc:qld:uq2004:266

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    1. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    2. Terzi, Andrea, 1986. "Finance, Investment and Saving: A Comment," Cambridge Journal of Economics, Oxford University Press, vol. 10(1), pages 77-80, March.
    3. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    4. Marc Lavoie, 1992. "Foundations of Post-Keynesian Economic Analysis," Books, Edward Elgar Publishing, number 275, April.
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