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Response to William W. Grimes, "Comment on Richard Werner's 'The Enigma of Japanese Policy Ineffectiveness: The Limits of Traditional Approaches, Not Cyclical Policy'"
WERNER, RICHARD A. - In: Japanese Economy 31 (2003) 1, pp. 82-96
Persistent link: https://www.econbiz.de/10005751554
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A Reconsideration of the Rationale for Bank-Centered Economic Systems and the Effectiveness of Directed Credit Policies in the Light of Japanese Evidence
Werner, Richard A. - In: Japanese Economy 30 (2002) 3, pp. 3-45
Directed credit is seen by recent literature as having contributed to high post-war economic growth in several Asian countries, including Japan, Korea, Taiwan, Thailand, and Indonesia. Its use, however, remains controversial. This paper adopts ex ante predictive power as criterion for the...
Persistent link: https://www.econbiz.de/10008774637