EconPapers    
Economics at your fingertips  
 

Global Risk Sharing: Toward a stronger Financial System

Takao Kobayashi, Jeffrey Bohn and Risa Sai
Additional contact information
Takao Kobayashi: Faculty of Economics, University of Tokyo
Jeffrey Bohn: The Financial Strategies Division, Shinsei Bank
Risa Sai: Graduate School of Economics, University of Tokyo

No CARF-J-036, CARF J-Series from Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo

Abstract: Recent surge of large real estate lending in Japan suggests the creation of a new series of lumpy credit risk exposures entering Japanese bank portfolios. It is necessary to transform these types of large, concentrated exposures into more manageable pieces of risk. The development of syndication and securitization markets provide an antidote to this creeping risk of crisis as concentrations deepen. Without the mechanisms for distributing and managing risk, Japan will forever lag the rest of the developed world in terms of financial market development and financial market competitiveness. Even worse, the days of liquidity crunches and a contracting economy may return if the structure of the market is not modified to better manage concentration risk.

Pages: 27 pages
Date: 2007-04
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.carf.e.u-tokyo.ac.jp/pdf/workingpaper/jseries/36.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cfi:jseres:cj036

Access Statistics for this paper

More papers in CARF J-Series from Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2021-10-14
Handle: RePEc:cfi:jseres:cj036