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Political Influence and Declarations of Bank Insolvency in Japan

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  • MASAMI IMAI
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    Abstract

    This paper investigates how politics affects bank supervision by examining determinants of bank failures in Japan during 1999-2002, a period during which bank regulators were called upon to resolve insolvent banks in preparation for the lifting of a blanket deposit guarantee. The empirical results suggest that Japan's bank regulators had tendency to delay declarations of insolvency in prefectures that supported senior politicians of the ruling Liberal Democratic Party (LDP). This result, which is robust to a host of bank-level and prefecture-level controls, suggests that bank supervision is prone to political influence that delays efficient resolution of insolvency. Copyright (c) 2009 The Ohio State University.

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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1538-4616.2008.00190.x
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    Bibliographic Info

    Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

    Volume (Year): 41 (2009)
    Issue (Month): 1 (02)
    Pages: 131-158

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    Handle: RePEc:mcb:jmoncb:v:41:y:2009:i:1:p:131-158

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    Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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    Cited by:
    1. De Jonghe, O.G. & Disli, M. & Schoors, K., 2011. "Corporate Governance, Opaque Bank Activities, and Risk/Return Efficiency: Pre- and Post-Crisis Evidence from Turkey," Discussion Paper 2011-129, Tilburg University, Center for Economic Research.
    2. Jackowicz, Krzysztof & Kowalewski, Oskar & Kozłowski, Łukasz, 2013. "The influence of political factors on commercial banks in Central European countries," Journal of Financial Stability, Elsevier, vol. 9(4), pages 759-777.
    3. Thorsten Beck, 2013. "Finance, growth and fragility: the role of government," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 5(1/2), pages 49-77.

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