Lessons from Japanâ€™s Banking Crisis
The Japanese governmentâ€™s response to the financial crisis in the 1990s was late, unprepared and insufficient; it failed to recognize the severity of the crisis, which developed slowly; faced no major domestic or external constraints; and lacked an adequate legal framework for bank resolution. Policy measures adopted after the 1997â€“1998 systemic crisis, supported by a newly established comprehensive framework for bank resolution, were more decisive. Banking sector problems were eventually resolved by a series of policies implemented from that period, together with an export-led economic recovery. [ADBI Working Paper 222]
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- Hoshi, Takeo & Kashyap, Anil K, 2010.
"Will the U.S. bank recapitalization succeed? Eight lessons from Japan,"
Journal of Financial Economics,
Elsevier, vol. 97(3), pages 398-417, September.
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- Masahiro Kawai, 2005.
"Reform of the Japanese Banking System,"
Hi-Stat Discussion Paper Series
d05-102, Institute of Economic Research, Hitotsubashi University.
- Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises: A New Database," IMF Working Papers 08/224, International Monetary Fund.
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