02244cas a2200265 a 4500 AALejournalIMF006938 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455211753 1018-5941 BD-DhAAL BD-DhAAL Syed, Murtaza. Japan's Quest for Growth : Exploring the Role of Capital and innovation / Murtaza Syed, Jinsook Lee. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students As labor input in Japan shrinks with population aging, capital accumulation and productivity gains will drive growth over the medium-term. At the same time, a changing global landscape calls for a shift in export-oriented investment toward new markets and a new generation of products, as well as increased investment by domestically-oriented firms. What policies could be adopted to help firms adjust to the imperatives of the post-crisis global economy and boost medium-term growth? Using disaggregated data, this paper investigates the determinants of investment and R and D spending by Japanese firms. The results suggest that policies could usefully focus on four areas. First, raising the return on investment, including through reforms to the tax code. Second, decreasing uncertainty through improved risk management by firms and by bolstering the business climate. Third, improving SME access to finance, notably by encouraging venture capital investment in innovative areas and more risk-based lending. And fourth, reducing excess leverage and supporting corporate restructuring to enable new investments to flourish. Mode of access: Internet Japan imf Lee, Jinsook. IMF Working Papers; Working Paper ; No. 2010/294 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/294/001.2010.issue-294-en.xml IMF e-Library