Peek, Joe; Rosengren, Eric S. - In: New England Economic Review (1999) Jan, pp. 25-36
Fueled by a high saving rate, active exporting firms, and a booming stock market, Japanese banks expanded aggressively worldwide during the 1980's. By 1988, all of the 10 largest banks in the world were Japanese, with a significant presence in Southeast Asia, Europe, Latin America, and the...