HOFFMANN, Mathias; Toshihiro, OKUBO - Research Institute of Economy, Trade and Industry (RIETI) - 2012
We examine the impact of cross-prefectural differences in financial integration on the regional spread of Japan's Great Recession in the early 1990s. In prefectures with many small manufacturing firms, post-1990 growth was significantly lower if low levels of banking integration with the rest of...