Showing 1 - 10 of 142
Under the Japanese "main bank" relationship, an individual bank holds equity in a firm and plays a leading role in a firm decision-making and financing. This may leave a firm dependent on its main bank for financing due to the information advantage it enjoys over other potential leaders. While...
Persistent link: https://www.econbiz.de/10005669536
This paper examines the evidence in bank equity markets concerning bank regulatory policies in japan over the turbulent 1995-1998 period.
Persistent link: https://www.econbiz.de/10005634491
Previous empirical studies cast a doubt on a positive effect of overseas listings on stockholders' wealth. In this paper, we used a mail questionnaire to obtain information on overseas listing decisions of Japanese companies.
Persistent link: https://www.econbiz.de/10005634495
The coincidence of banking and currency crises associated with the Asian financial crisis has drawn renewed attention to causal and common factors linking the two phenomena. In this paper, we analyze the incidence and underlying causes of banking and currency crises in 90 industrial and...
Persistent link: https://www.econbiz.de/10005479108
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10005479109
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 crietria, Japan appeared to be in a stronger position than most countries at the onset of banking problems -low inflation,...
Persistent link: https://www.econbiz.de/10005479110
This paper analyzes the role of money, credit, trade and competitiveness variables in signaling currency crises in a sample of East Asian and Latin American countries over the period 1972:01-1997:10. Bivariate tests suggest that money and credit, as well as trade and competitiveness variables,...
Persistent link: https://www.econbiz.de/10005669537
A large literature on the appropriate sequencing of financial liberalization suggests that removing capital controls prematurely may contribute to currency instability. This paper investigates whether legal restrictions on international capital flows are associated with grated currency stability.
Persistent link: https://www.econbiz.de/10005669538
Renewed interest in the issue of appropriate exchange rate arrangements, particularly for developing countries, has been prompted by the general increase in global capital modility and the currency and payments crises of the 1990s. Three propositions are currently heard as prescriptions...
Persistent link: https://www.econbiz.de/10005669539
A sticky price monetary model (Frankel, 1979) of exchange rates is applied to quarterly data on seven currencies: the Indonesian rupiah, Korean won, Malaysian ringgit, Philippine peso, Singapore dollar, Taiwanese dollar and the Thai baht. The model proves empirically unsuccessful, except in the...
Persistent link: https://www.econbiz.de/10005669540