Bank Charter Value and the Viability of the Japanese Convoy System
This paper compares the performance of a convoy banking system, similar to that which prevailed in Japan, to a fixed-premium deposit insurance regime. Under this system, failed banks are merged with healthy banks, rather than closed, so that the banking system itself provides the safety net for guaranteed deposits.
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Volume (Year): 14 (2000)
Issue (Month): 3 (September)
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- Giammarino, Ronald M & Lewis, Tracy R & Sappington, David E M, 1993.
" An Incentive Approach to Banking Regulation,"
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in: NBER Macroeconomics Annual 1999, Volume 14, pages 129-212
National Bureau of Economic Research, Inc.
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- 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, December.
- Kenneth Kasa & Mark M. Spiegel, 1999.
"The role of relative performance in bank closure decisions,"
Working Papers in Applied Economic Theory
99-07, Federal Reserve Bank of San Francisco.
- Kenneth Kasa & Mark M. Spiegel, 2008. "The role of relative performance in bank closure decisions," Economic Review, Federal Reserve Bank of San Francisco, pages 17-29.
- Nobuyoshi Yamori, 1999. "Stock Market Reaction to the Bank Liquidation in Japan: A Case for the Informational Effect Hypothesis," Journal of Financial Services Research, Springer;Western Finance Association, vol. 15(1), pages 57-68, February.
- Mark M. Spiegel, 1999. "Moral hazard under the Japanese "convoy" banking system," Economic Review, Federal Reserve Bank of San Francisco, pages 3-13.
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