IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

"Global Risk Sharing: Toward a stronger Financial System"(in Japanese)

Listed author(s):
  • Takao Kobayashi

    (Faculty of Economics, University of Tokyo)

  • Jeffrey Bohn

    (The Financial Strategies Division, Shinsei Bank)

  • Risa Sai

    (Graduate School of Economics, University of Tokyo)

Recent surge of large real estate lending in Japan suggests the creation of a new series of lumpy credit risk exposures entering Japanese bank portfolios. It is necessary to transform these types of large, concentrated exposures into more manageable pieces of risk. The development of syndication and securitization markets provide an antidote to this creeping risk of crisis as concentrations deepen. Without the mechanisms for distributing and managing risk, Japan will forever lag the rest of the developed world in terms of financial market development and financial market competitiveness. Even worse, the days of liquidity crunches and a contracting economy may return if the structure of the market is not modified to better manage concentration risk.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE J-Series with number CIRJE-J-176.

in new window

Length: 27 pages
Date of creation: Apr 2007
Handle: RePEc:tky:jseres:2007cj176
Contact details of provider: Postal:
Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033

Phone: +81-3-5841-5644
Fax: +81-3-5841-8294
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:tky:jseres:2007cj176. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CIRJE administrative office)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.