Lessons from Japan’s Banking Crisis

Masahiro Kawai () and Mariko Fujii

Working Papers from eSocialSciences

Abstract: The Japanese government’s response to the financial crisis in the 1990s was late, unprepared and insufficient; it failed to recognize the severity of the crisis, which developed slowly; faced no major domestic or external constraints; and lacked an adequate legal framework for bank resolution. Policy measures adopted after the 1997–1998 systemic crisis, supported by a newly established comprehensive framework for bank resolution, were more decisive. Banking sector problems were eventually resolved by a series of policies implemented from that period, together with an export-led economic recovery. [ADBI Working Paper 222]

Keywords: Japanese; financial crisis; domestic; framework; policies (search for similar items in EconPapers)
Date: 2010-10
New Economics Papers: this item is included in nep-ban
Note: Institutional Papers
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Citations: View citations in EconPapers (3)

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