Gateway to Think Tanks
来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w9385 |
来源ID | Working Paper 9385 |
Paying for the FILP | |
Takero Doi; Takeo Hoshi | |
发表日期 | 2002-12-16 |
出版年 | 2002 |
语种 | 英语 |
摘要 | This paper examines the financial health of the Fiscal Investment and Loan Program (FILP) as of the end of March 2001. We study the financial conditions of FILP recipients, which include public corporations and local governments. We find many are de facto insolvent. Our estimates suggest as much as 75% of the FILP loans are bad. The expected losses are estimated to be about ?75 trillion (over 15% of GDP). We also studied the effects of the FILP reform of April 2001, which tries to introduce market discipline in allocation of FILP funds. No significant changes in financial flow are detected, yet. The financial market seems to differentiate the newly introduced FILP agency bonds, which are supposed to without government guarantee, from government guaranteed bonds. It is too early to tell, however, whether the financial market will become an effective monitor of FILP agencies. |
主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
URL | https://www.nber.org/papers/w9385 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567004 |
推荐引用方式 GB/T 7714 | Takero Doi,Takeo Hoshi. Paying for the FILP. 2002. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w9385.pdf(299KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
个性服务 |
推荐该条目 |
保存到收藏夹 |
导出为Endnote文件 |
谷歌学术 |
谷歌学术中相似的文章 |
[Takero Doi]的文章 |
[Takeo Hoshi]的文章 |
百度学术 |
百度学术中相似的文章 |
[Takero Doi]的文章 |
[Takeo Hoshi]的文章 |
必应学术 |
必应学术中相似的文章 |
[Takero Doi]的文章 |
[Takeo Hoshi]的文章 |
相关权益政策 |
暂无数据 |
收藏/分享 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。