How lower Japanese asset prices affect Pacific financial markets

Robert McCauley and Stephen Yeaple

Quarterly Review, 1994, vol. 19, issue Spr, 19-33

Abstract: The collapse of Japanese asset prices in the 1990s sharply reduced the wealth of Japanese banks and life insurers and slowed their international activity. This article traces the channels through which wealth changes altered these intermediaries' growth, pricing, and portfolio strategies. The authors also consider several factors that have eased the adaptation of foreign market participants to the revised strategies.

Keywords: Japan; Financial markets; Pacific Area (search for similar items in EconPapers)
Date: 1994
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