The Impacts of Financial Deregulation upon Trading Efficiency and the Levels of Risk and Return of Japanese Banks

Richard H Pettway, T Craig Tapley and Takeshi Yamada ()

The Financial Review, 1988, vol. 23, issue 3, 243-68

Abstract: Japanese banks are very large and were rigidly controlled until financial deregulation began in the late 1970s. This paper measures the impact of deregulation upon the trading efficiency and the levels of risk and return of the largest twenty-seven listed Japanese banks. The authors found that, as the pace of deregulation increased, there were significant increases in trading efficiency, as well as in the levels of returns and risks. With deregulation , the Japanese banking system, which contains the largest banks in the world, has become less protected and more vulnerable to the discipline of market movements. Copyright 1988 by MIT Press.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:bla:finrev:v:23:y:1988:i:3:p:243-68

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