ADBI Dean Naoyuki Yoshino gave a presentation at the Chinese Academy of Social Sciences on August 6. He touched upon Japan “lost decade,” partly caused by an aging population, a low rate of return on capital investment, and the ineffectiveness of public works projects. He went on to explain how to finance SMEs and startup businesses in Japan. Home town trust funds and the analysis of SME data both help to improve capital flows to SMEs and startups. The economic effect of infrastructure investment varies from region to region and from era to era. Dean Yoshino explained an empirical analysis using a trans log production function, applying it to Japan and Thailand, and an empirical analysis using micro data from the Philippines, PRC, Uzbekistan and Japan. He emphasized that in order to attract private companies to regions, improved infrastructure is crucial which requires infrastructure investment.
Chinese Academy of Social Sciences (CASS)