Regional differences in banking integration determined how Japan s Great Recession after 1990 spread across the country …. We explain these differences with the emergence of silk reeling as the main export industry after Japan s opening to …

How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to …: financing frictions for credit-dependent firms were more severe in less integrated prefectures, which saw larger decreases in … reference to prefectures' different historical pathways to financial development. After Japan's opening to trade in the 19th …

How do financial development and financial integration interact? We focus on Japan’s Great Recession after 1990 to …: financing frictions for credit-dependent firms were more severe in less integrated prefectures, which saw larger decreases in … reference to prefectures' different historical pathways to financial development. After Japan's opening to trade in the 19th …

During Japan's ‘Lost Decade', reallocation of credit through the internal capital markets of country-wide banks … regional fragmentation of banking markets in Japan goes back to the institutions set up for silk export finance in the late 19 … credit reallocation than in our baseline OLS-specifications. The sign of this OLS-bias is consistent with the underlying …

We exploit the natural experiment of Japan’s opening to international trade to examine how comparative advantage can … shape a country’s long-run path towards financial development. In the late 19th century, many of Japan’s prefectures had a …

How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to …: financing frictions for credit-dependent firms were more severe in less integrated prefectures, which saw larger decreases in … reference to prefectures' different historical pathways to financial development. After Japan's opening to trade in the 19th …

Regional differences in banking integration determined how Japan's Great Recession after 1990 spread across the country …. We explain these differences with the emergence of silk reeling as the main export industry after Japan's opening to …

How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to …: financing frictions for credit-dependent firms were more severe in less integrated prefectures, which saw larger decreases in … reference to prefectures' different historical pathways to financial development. After Japan's opening to trade in the 19th …