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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- Masahiro Kawai, 2005.
"Reform of the Japanese banking system,"
International Economics and Economic Policy,
Springer, vol. 2(4), pages 307-335, December.
- Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises; A New Database," IMF Working Papers 08/224, International Monetary Fund.
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