The Japanese Banking Crisis of the 1990's: Sources and Lessons

For a large part of the past decade, Japan has witnessed a steady deterioration in the health of its banking system. This paper examines what went wrong and why it has taken so long for the system to recover. While the paper traces the roots of the crisis to accelerated deregulation and deepening of capital markets without an appropriate adjustment in the regulatory framework, it identifies weak corporate governance and regulatory forbearance as the two factors behind what might have been an unnecessary prolongation of the distress of the financial system.
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Volume/Issue: Volume 2000 Issue 007
Publication date: January 2000
ISBN: 9781451842401
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Business and Economics , Banks and Banking , Money and Monetary Policy , Corporate Governance , WP , bank management , capital ratio , equity holding , asset growth , bank share , trust bank , Japan , Banking Crisis , Bank Restructuring , parent bank , long-term credit , bank restructuring process , city bank , capitalized bank , book value , bank capital , bank ownership structure , Loans , Bank credit , Capital adequacy requirements , Commercial banks , Corporate governance , Global

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Summary

For a large part of the past decade, Japan has witnessed a steady deterioration in the health of its banking system. This paper examines what went wrong and why it has taken so long for the system to recover. While the paper traces the roots of the crisis to accelerated deregulation and deepening of capital markets without an appropriate adjustment in the regulatory framework, it identifies weak corporate governance and regulatory forbearance as the two factors behind what might have been an unnecessary prolongation of the distress of the financial system.

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