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Asian finance and the role of bankruptcy: a model of the transition costs of financial liberalization

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  • Cargill, Thomas F.
  • Parker, Elliott

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  • Cargill, Thomas F. & Parker, Elliott, 2002. "Asian finance and the role of bankruptcy: a model of the transition costs of financial liberalization," Journal of Asian Economics, Elsevier, vol. 13(3), pages 297-318.
  • Handle: RePEc:eee:asieco:v:13:y:2002:i:3:p:297-318
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    1. Takeo Hoshi & Anil Kashyap, 2000. "The Japanese Banking Crisis: Where Did It Come From and How Will It End?," NBER Chapters,in: NBER Macroeconomics Annual 1999, Volume 14, pages 129-212 National Bureau of Economic Research, Inc.
    2. Ricardo J. Caballero & Mohamad L. Hammour, 2005. "The Cost of Recessions Revisited: A Reverse-Liquidationist View," Review of Economic Studies, Oxford University Press, vol. 72(2), pages 313-341.
    3. Parker, Elliott, 1995. "Schumpeterian creative destruction and the growth of Chinese enterprises," China Economic Review, Elsevier, vol. 6(2), pages 201-223.
    4. Kawai, Masahiro, 2000. "The resolution of the East Asian crisis: financial and corporate sector restructuring," Journal of Asian Economics, Elsevier, pages 133-168.
    5. Geert Bekaert & Campbell R. Harvey & Christian Lundblad, 2004. "Does Financial Liberalization Spur Growth?," Working Paper Research 53, National Bank of Belgium.
    6. Hart, Oliver & La Porta Drago, Rafael & Lopez-de-Silanes, Florencio & Moore, John, 1997. "A new bankruptcy procedure that uses multiple auctions," European Economic Review, Elsevier, vol. 41(3-5), pages 461-473, April.
    7. Takeo Hoshi & Anil Kashyap, 2004. "Corporate Financing and Governance in Japan: The Road to the Future," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582481, January.
    8. Berkovitch, Elazar & Israel, Ronen, 1999. "Optimal Bankruptcy Laws across Different Economic Systems," Review of Financial Studies, Society for Financial Studies, vol. 12(2), pages 347-377.
    9. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2005. "Does financial liberalization spur growth?," Journal of Financial Economics, Elsevier, vol. 77(1), pages 3-55, July.
    10. Kane, Edward J., 2000. "The dialectical role of information and disinformation in regulation-induced banking crises," Pacific-Basin Finance Journal, Elsevier, pages 285-308.
    11. Thomas F. Cargill & Michael M. Hutchison & Takatoshi Ito, 1997. "The Political Economy of Japanese Monetary Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262032473, January.
    12. Reynolds, Stephen E. & Ratanakomut, Somchai & Gander, James, 2000. "Bank financial structure in pre-crisis East and Southeast Asia," Journal of Asian Economics, Elsevier, pages 319-331.
    13. Li, David D. & Li, Shan, 1999. "An agency theory of the bankruptcy law," International Review of Economics & Finance, Elsevier, vol. 8(1), pages 1-24, January.
    14. Ricardo J. Caballero & Mohamad L. Hammour, 2000. "Creative Destruction and Development: Institutions, Crises, and Restructuring," NBER Working Papers 7849, National Bureau of Economic Research, Inc.
    15. Kwack, Sung Yeung, 2000. "An empirical analysis of the factors determining the financial crisis in Asia," Journal of Asian Economics, Elsevier, pages 195-206.
    16. Cornelli, Francesca & Felli, Leonardo, 1997. "Ex-ante efficiency of bankruptcy procedures," European Economic Review, Elsevier, vol. 41(3-5), pages 475-485, April.
    17. Reeb, David M & Kwok, Chuck C Y, 2000. "Mainbanks and Investment Efficiency in Financial Distress," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 23(4), pages 395-410, Winter.
    18. Steven Radelet & Jeffrey Sachs, 2000. "The Onset of the East Asian Financial Crisis," NBER Chapters,in: Currency Crises, pages 105-153 National Bureau of Economic Research, Inc.
    19. Qaizar Hussain & Clas Wihlborg, 1999. "Corporate Insolvency Procedures and Bank Behavior; A Study of Selected Asian Economies," IMF Working Papers 99/135, International Monetary Fund.
    20. Cargill, Thomas F., 1988. "Competition and the transition of finance in Japan and the United States," Journal of Comparative Economics, Elsevier, pages 380-400.
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    Cited by:

    1. Dooyeon Cho & Antonio Doblas-Madrid, 2013. "Business Cycle Accounting East and West: Asian Finance and the Investment Wedge," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(4), pages 724-744, October.
    2. Thomas F. Cargill, 2005. "A tale of two monetary policies: Korea and Japan," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue apr15.
    3. Fuhmei Wang, 2009. "Financial Distortions and Economic Growth: Empirical Evidence," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 45(3), pages 56-66, May.
    4. Cargill, Thomas, 2004. "Japan’s Economic and Financial Stagnation and the Possibility of a Second Lost Decade," EIJS Working Paper Series 199, The European Institute of Japanese Studies.
    5. Cargill, Thomas F. & Parker, Elliott, 2004. "Price deflation and consumption: central bank policy and Japan's economic and financial stagnation," Journal of Asian Economics, Elsevier, vol. 15(3), pages 493-506, June.
    6. Fuhmei Wang, 2009. "Financial Distortions and Economic Growth: Empirical Evidence," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 45(3), pages 56-66, May.
    7. Schönfelder, Bruno, 2003. "Death or survival. Post-communist bankruptcy law in action. A survey," Freiberg Working Papers 2003,01, TU Bergakademie Freiberg, Faculty of Economics and Business Administration.
    8. Fuhmei Wang, 2009. "The effects of foreign borrowing policies on economic growth: success or failure?," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 12(4), pages 273-284.

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