"Role of Inter-bank Networks in the Pre-war Japanese Financial System"(in Japanese)
AbstractIn this paper we identify networks among banks in pre-war Japan based on director interlocking data, and explore their implications. It was found that nearly 60% of banks had interlocking ties with at least one other bank. The large regional banks tended to have many interlocking ties. One of the effects of the inter-bank networks was reducing the probability of bank failure. This result is consistent with the descriptive evidences that banks supported a bank in the same network through supplying liquidity, in case it was faced with liquidity shortage. At the same time, a bank tended to choose a bank in the same network as a counterpart of consolidation, which suggests that inter-bank networks lowered the coordination cost of consolidation.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE J-Series with number CIRJE-J-150.
Length: 21 pages
Date of creation: Mar 2006
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-13 (All new papers)
- NEP-BAN-2007-01-13 (Banking)
- NEP-HIS-2007-01-13 (Business, Economic & Financial History)
- NEP-NET-2007-01-13 (Network Economics)
- NEP-SOC-2007-01-13 (Social Norms & Social Capital)
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