Asset Price Bubble and Banks: The Case of Japan
AbstractThis paper analyses the behaviour of the Japanese banks at the outset of the asset price bubble in the late 1980s. The paper argues that with the advent of financial deregulations, the declining trend of profitability forced the banks to exhibit speculative behaviour during the asset price bubble period (mid-1980s) to increase short term profit. This
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Date of creation: May 2012
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asset prices; japanese banks; japan; financial sector; financial liberalization; small and medium enterprises; debtor companies;
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- Hoshi, Takeo & Kashyap, Anil & Scharfstein, David, 1991.
"Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups,"
The Quarterly Journal of Economics, MIT Press,
MIT Press, vol. 106(1), pages 33-60, February.
- Takeo Hoshi & Anil Kashyap & David Scharfstein, 1989. "Corporate structure, liquidity, and investment: evidence from Japanese industrial groups," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 82, Board of Governors of the Federal Reserve System (U.S.).
- Monzur Hossain, 2005. "Can Japan avert any future banking crisis?," Applied Economics Letters, Taylor & Francis Journals, vol. 12(7), pages 425-429.
- Naoyuki Yoshino & Eisuke Sakakibara, 2002. "The Current State of the Japanese Economy and Remedies," Asian Economic Papers, MIT Press, MIT Press, vol. 1(2), pages 110-126.
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