RDP 2000-03: Some Structural Causes of Japan's Banking Problems References

Anderson CW and AK Makhija (1999), ‘Deregulation, Disintermediation and Agency Costs of Debt: Evidence from Japan’, Journal of Financial Economics, 51, pp 309–399.

Aoki M (1984), ‘Shareholders' Non-unanimity on Investment Financing: Banks vs. Individual Investors’ in M Aoki (ed), The Economic Analysis of the Japanese Firm, North Holland, Amsterdam, pp 193–224.

Aoki M (1990), ‘Toward an Economic Model of the Japanese Firm’, Journal of Economic Literature, 28, pp 1–27.

Aoki M and H Patrick (1994), The Japanese Main Bank System: Its Revelance for Developing and Transforming Economies, Oxford University Press, Oxford.

Aoki M, H Patrick and P Sheard (1994), ‘The Japanese Main Bank System: An Introductory Overview’ in M Aoki and H Patrick (eds), The Japanese Main Bank System: Its Relevance for Developing and Transforming Economies, Oxford University Press, Oxford, pp 109–141.

Argy V (1987), ‘International Financial Liberalisation – the Australian and Japanese Experiences Compared’, Monetary and Economic Studies, Bank of Japan.

Bank of Japan (1991a), ‘Recent Developments in Lending Rates: changing behavior of banks under interest rate liberalization’, Bank of Japan Special Paper No 206.

Bank of Japan (1991b), ‘Credit Risk Management of Financial Institutions Related to Lending’, Bank of Japan Special Paper No 205.

Bank of Japan (1991c), ‘Corporate Management under Continued Economic Expansion’, Bank of Japan Special Paper No 199.

Bank of Japan (1993a), ‘Japanese Banks' Capital Ratio and Their Earnings Trend: a return on equity analysis’, Bank of Japan Special Paper No 230.

Bank of Japan (1993b), ‘Functions of Stockmarkets: implications for corporate financial activities’, Bank of Japan Special Paper No 225.

Bank of Japan, Economic Statistics Annual, various issues.

Calder KE (1993), Strategic Capitalism, Princeton University Press, Princeton, New Jersey.

Cargill TF and S Royama (1992), ‘The Evolution of Japanese Banking and Finance’ in G Kaufman (ed), Banking Structures in Major Countries, Kluwer Academic Publishers, Boston, pp 333–388.

Caves RE and M Uekusa (1976), Industrial Organization in Japan, Brookings Institution, Washington DC.

Diamond DW (1991), ‘Monitoring and Reputation: the choice between bank loans and directly placed debt’, Journal of Political Economy, 99(4), pp 689–721.

Economic Planning Agency (1992), ‘Economic Survey of Japan 1992–1993’, Government of Japan, Tokyo.

Economic Planning Agency (1993), ‘Economic Survey of Japan 1992–1993’, Government of Japan, Tokyo.

East Asia Analytical Unit (EAAU) (1996), ‘Financial Sector Reform’ in A New Japan? Changes in Asia's Megamarket, Department of Foreign Affairs and Trade, Canberra.

Frankel J (1991), ‘Japanese Finance in the 1980s: A Survey’ in Krugman P (ed) Trade with Japan: Has the Door Opened Wider?, University of Chicago Press, Chicago, pp 225–268.

Gerlach M (1992), Alliance Capitalism: The Social Organization of Japanese Business, University of California Press, Berkeley.

Gower L (1996), ‘Moral Hazard and Main Bank Monitoring’ in P Sheard (ed), Japanese Firms, Finance and Markets, Addison-Wesley Longman, Melbourne, pp 143–165.

Hall M (1998), Financial Reform in Japan: Causes and Consequences, Edward Elgar, Cheltenham.

Hamada K and A Horiuchi (1987), ‘The Political Economy of the Financial Market’ in Yamamura K and Y Yasuba (eds), The Political Economy of Japan, Stanford University Press, California, pp 223–260.

Hodder JE (1991), ‘Is the Cost of Capital Lower in Japan?’, Journal of the Japanese and International Economies, 5(1), pp 86–100.

Hodder JE and AE Tschoegl (1985), ‘Some Aspects of Japanese Corporate Finance’, Journal of Financial and Quantitative Analysis, 20(2), pp 173–191.

Horiuchi A (1993), ‘Functions of the Japanese Capital Market’, Japanese Economic Studies, 21(3), pp 66–95.

Horiuchi A (1994), ‘An Overview of the Japanese Financial Liberalisation’, mimeo.

Horiuchi A, F Packer and S Fukuda (1988), ‘What Role Has the ‘Main Bank’ Played in Japan?’, Journal of the Japanese and International Economies, 2(2), pp 159–180.

Hoshi T (1993), ‘Evolution of the Main Bank System in Japan’, Research Report 93–04, Graduate School of International Relations and Pacific Studies.

Hoshi T and A Kashyap (1999), ‘The Japanese Banking Crisis: Where Did it Come From and How Will it End?’, NBER Working Paper No 7250.

Hoshi T, A Kashyap and D Scharfstein (1991), ‘Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups’, Quarterly Journal of Economics, 10, pp 33–60.

Hoshi T, A Kashyap and D Scharfstein (1993), ‘The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan’, NBER Working Paper No 4421.

Ito T (1992), The Japanese Economy, MIT Press, Cambridge.

Japan Fair Trade Commission, Research on Derivative Deposits, various issues.

Lichtenberg FR and GM Pushner (1994), ‘Ownership Structure and Corporate Performance in Japan’, Japan and the World Economy, 6, pp 239–261.

Lincoln EJ (1998), ‘Japan's Financial Problems’, Brookings Papers on Economic Activity, (2), pp 347–375.

Ministry of Finance (1993), The Mechanism and Economic Effects of Asset Price Fluctuations: A Report of the Research Committee, Ministry of Finance, Japan.

Myers SC (1977), ‘Determinants of Corporate Borrowing’, Journal of Financial Economics, 5(2), pp 147–175.

Nakajima Z and H Taguchi (1995), ‘Toward a More Stable Framework: Long-Term alternatives: an Overview of Recent Bank Disruption Worldwide’ in Sawamoto, Z Nakajima and H Taguchi et al (eds), Financial Stability in a Changing Environment, St Martin's Press, New York, pp 41–98.

Nakatani I (1984), ‘The Economic Role of Financial Corporate Grouping’ in M Aoki (ed), The Economic Analysis of the Japanese Firm, North Holland, Amsterdam.

Oda N (1999), ‘Estimating Fair Premium Rates for Deposit Insurance Using Option Pricing Theory’, Bank of Japan, Monetary and Economic Studies, 17 (1), pp 133–170.

OECD (1996), ‘Economic Surveys, 1995–1996: Japan’, OECD, Paris.

OECD (1999), ‘Economic Surveys, 1998–99: Japan’, OECD, Paris.

OECD, Bank Profitability: Financial Statements of Banks, various issues, OECD, Paris.

Osano H and Y Tsutsui (1985), ‘Implicit Contracts in the Japanese Bank Loan Market’, Journal of Financial and Quantitative Analysis, 20(2), pp 211–219.

Packer F and M Ryser (1992), ‘The Governance of Failure: An Anatomy of Corporate Bankruptcy in Japan’, Working Paper No 62, Center on Japanese Economy and Business, Columbia University.

Patrick H (1999), ‘The Causes of Japan's Financial Crisis’, Pacific Economic Papers, 288, The Australia-Japan Research Centre, The Australian National University.

Pascale R and T Rohlen, (1983), ‘The Mazda Turnaround’, Journal of Japanese Studies, 9, pp 219–263.

Prowse SD (1992), ‘The Structure of Corporate Ownership in Japan’, The Journal of Finance, 47, pp 1121–1140.

Ramseyer J (1994), ‘Explicit Reasons for Implicit Contract: The Legal Logic to the Japanese Main Bank System’, EDI Working Paper No 94–98, The World Bank.

Suzuki S and R Wright (1985), ‘Financial Structure and Bankruptcy Risk in Japanese Companies’, Journal of Business Studies, 9, pp 97–110.

Takeda M and P Turner (1992), ‘The Liberalisation of Japan's Financial Markets: Some Major Themes’, BIS Economic Paper 34, Basel.

Ueda K (1999), ‘The Japanese Banking Crisis in the 1990s’, Strengthening the Banking System in China: issues and experiences, BIS Policy Papers No 7, Bank for International Settlements, Basel.

Weinstein DE and Y Yafeh (1998), ‘On the Costs of a Bank-Centred Financial System: Evidence from the Changing Main Bank Relations in Japan’, Journal of Finance, 53(2), pp 635–672.