To see this, let me first consider corporate investment in Japan. Figure 3.1 depicts manufacturing investment by the corporate sector. The shaded areas indicate recession, the black line is manufacturing investment in real terms, and the blue line shows the time profile of the policy rate.
Shaktikanta Das: Micro, small and medium enterprises - challenges and way forward Speech by Mr Shaktikanta Das, Governor of the Reserve Bank of India, at the 15th ASSOCHAM (Associated Chambers of Commerce and Industry of India) Annual Banking Summit, Mumbai, 6 March 2020. * * * At the outset, I wish to thank ASSOCHAM for inviting me to their 15th Annual Banking Summit.