Search Results
Journal Article
Foreign direct investment: gift horse or Trojan horse?
Journal Article
Sluggish money growth: Japan's recent experience
Journal Article
Stock prices and bank lending behavior in Japan
This study attempts to shed light on whether stock price movements have contributed to recent fluctuations in bank lending in Japan by examining the historical relationship between stock prices and bank lending in that country. It is found that prior to the mid-1980s the relationship between stock prices and bank lending was weak, but subsequently strengthened considerable. This coincided with a change in the regulatory environment that encouraged banking institutions to pay more attention to their capital positions. Since the late 1980s, fluctuations in stock prices appear to have made ...
Journal Article
Measuring the cost of \\"financial repression\\"
Journal Article
Saving-investment linkages in the Pacific Basin
Journal Article
Do capital controls affect the response of investment to saving? evidence from the Pacific Basin
This paper examines the effect of capital controls on the response of investment to savings in Pacific Basin countries. A robust finding is that the size of the savings coefficient tends to be smaller (larger) in countries with relatively higher (lower) capital controls. Additionally, relaxation in capital controls for the most part had no discernible impact on the savings- investment relationship in individual country time-series regressions. At least a partial resolution to these puzzles is found in the government policy response: Countries with a relatively high saving-investment ...
Journal Article
How bad is the \\"bad loan problem\\" in Japan?
Journal Article
Japan's keiretsu and Korea's chaebol
Journal Article
The independence of central banks
Journal Article
Banking and commerce: the Japanese case