Finansowanie inwestycji rzeczowych w warunkach destabilizacji sektora finansowego: doświadczenia japońskich przedsiębiorstw
The real investments fund in unsure conditions of finance sector: based on Japanese companies experience
Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, 2009, vol., nr 77, s. 115-126
The article analyses Japanese economic conditions and their consequences for financing real investment in the sector of non-financial corporations in the nineties of the 20th century. In order to identify sources of financing real investment, national accounts was used. Data to be taken into consideration while assessing real investment made by Japanese companies was obtained from two accounts: a capital and financial accounts. It is found out that the nineties witnessed considerable changes in financing real investment in the sector of Japanese nonfinancial corporations, which stems from two overlapping mechanisms: companies’ preference to finance real investment by means of internal funds and lower willingness of financial institutions to lend money.