I believe that the seemingly unconventional activist policy of the Bank of Japan in funding for financing economic growth may be relevant for these economies as well in the coming years. My interpretation of the Funding for Lending Scheme in the United  18  Although it is not widely recognized, this good-advisor function is important in helping the entrepreneur grow.
Unfortunately, Japanese financial institutions failed to act as good advisors in improving the performance of borrower firms (Fukao et al. 2005). 19  See Aghion (2012) for this classification. Aghion et al. (2012) claim with both theory and empirical evidence that monetary policy influences aggregate productivity through its impact on R&D investment by firms.