It hovered around that level until 2019 and even turned negative between 2014 and 2017 (Chart 1). [2] Euro area governments invested around € billion less in the 2011-19 period compared with the 2000-09 pre-crisis period. Net public investment in the euro area during the 2011-19 period was the lowest of the advanced economies, with the exception of Japan.
The Japanese “Big Bang” reform package is expected to be conducted by the year 2001. Given these situations, large financial institutions in Japan are making great efforts to enhance credit risk management. Medium and small-sized financial institutions are on their way to establish basic credit risk management systems under the PCA measures.