Economic Development and Financial Deepening

Kazuo Sato

Japanese Economy, 1997, vol. 25, issue 1, 3-35

Abstract: The financial mess in which Japan finds itself in the mid-1990s has attracted much popular attention. After a sustained boom in the late 1980s, Japan went into a recession in the early 1990s. Though the recession ended in late 1993, Japan's growth rate has remained below one percent (1992-95). By 1995, the large number of nonperforming loans made the serious difficulties in Japan's financial system apparent.

Date: 1997
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DOI: 10.2753/JES1097-203X25013

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