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Bank Charter Value and the Viability of the Japanese Convoy System

  • Spiegel, Mark M.

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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File URL: http://www.sciencedirect.com/science/article/B6WMC-45F4YBN-B/2/3d22be3fb098d23fec9bc1d51eae5b2a
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Article provided by Elsevier in its journal Journal of the Japanese and International Economies.

Volume (Year): 14 (2000)
Issue (Month): 3 (September)
Pages: 149-168

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Handle: RePEc:eee:jjieco:v:14:y:2000:i:3:p:149-168
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622903

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  1. 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, vol. 15(1), pages 57-68, February.
  2. Takeo Hoshi & Anil Kashyap, 1999. "The Japanese Banking Crisis: Where Did It Come From and How Will It End?," NBER Working Papers 7250, National Bureau of Economic Research, Inc.
  3. 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.
  4. Mark M. Spiegel, 1999. "Moral hazard under the Japanese "convoy" banking system," Economic Review, Federal Reserve Bank of San Francisco, pages 3-13.
  5. Giammarino, R.M. & Sappington, D.E.M., 1990. "An Incentive Approach to Banking Regulation," Papers 367, California Davis - Institute of Governmental Affairs.
  6. 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, June.
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