Showing 1 - 10 of 12
rehabilitate the U.S. banking industry. Many of those strategies were used also in Japan to combat its banking problems in the 1990 … respect to four of the others. So far the U.S. has avoided Japan's problem of having impaired banks prop up zombie firms …
Persistent link: https://www.econbiz.de/10012758287
In this paper, we propose a bank-based explanation for the decade-long Japanese slowdown following the asset price collapse in the early 1990s. We start with the well-known observation that most large Japanese banks were only able to comply with capital standards because regulators were lax in...
Persistent link: https://www.econbiz.de/10012761673
Promotion of inward foreign direct investment (FDI) into Japan has been an important policy in the Abenomics growth … stock for Japan. Although the actual inward FDI stock has been growing and is likely to achieve the goal of 35 trillion yen … suggested by the estimated model. We also estimate the model without Japan as a destination country and use the estimated model …
Persistent link: https://www.econbiz.de/10012889971
During this decade the structure of corporate finance in Japan has changed dramatically. Japanese firms that once used …
Persistent link: https://www.econbiz.de/10012787477
This paper explores the idea that financial distress is costly because free-rider problems and information asymmetries make it difficult for firms to renegotiate with their creditors in times of distress. We present evidence consistent with this view by showing Japanese firms with financial...
Persistent link: https://www.econbiz.de/10012774521
We argue that the deregulation leading up to the Big Bang has played a major role in the current banking problems. This deregulation allowed large corporations to quickly switch from depending on banks to relying on capital market financing. We present evidence showing that large Japanese...
Persistent link: https://www.econbiz.de/10012774809
Using a unique dataset on all major corporate restructuring events in Japan between 1981 and 2010, we examine how bank …-led rescue operations in Japan have changed over time. The incidence of restructuring by distressed firms has become less … findings as strong indicators of changing corporate governance in Japan, in particular in terms of the decline in corporate …
Persistent link: https://www.econbiz.de/10012949406
We construct quarterly series of the revenues, expenditures, and debt outstanding for Japan from 1980 to 2010, and …
Persistent link: https://www.econbiz.de/10013121087
Recent academic papers have shown that the Japanese sovereign debt situation is not sustainable. The puzzle is that the bond rate has remained low and stable. Some suggest that the low yield can be explained by domestic residents' willingness to hold Japanese government bonds (JGBs) despite its...
Persistent link: https://www.econbiz.de/10013102193
This paper examines the financial health of the Fiscal Investment and Loan Program (FILP) as of the end of March 2001. We study the financial conditions of FILP recipients, which include public corporations and local governments. We find many are de facto insolvent. Our estimates suggest as much...
Persistent link: https://www.econbiz.de/10013246047