A thin film of metal or metal compound is produced by preparing an
ultrafine particle dispersion liquid by dispersing ultrafine particles at
least partly made of metal into a given organic solvent, applying the
ultrafine particle dispersion liquid to a substrate, drying the ultrafine
particle dispersion liquid to leave metal or metal compound particles on
the substrate, heating the metal or metal compound particles to join the
metal or metal compound particles, and annealing the metal or metal
compound particles into a thin film.