This paper examines episodes of banking sector distress for a large sample of developed and developing countries, highlighting the experience of Japan. By a host of criteria, Japan appeared to be in a stronger position than most countries at the onset of banking problems low inflation,...

This article compares features of Japan's banking crisis with the experiences of other industrial economies. Using a probit statistical prediction model, we find that Japan's banking crisis follows a pattern found in many other industrial countries, i.e. formal tests do not distinguish Japan as...