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Discussion Papers In Economics And Business. 2011, 08-33-Rev.

Reluctance to Lend and Its Spatial Differences in Japan's Lost Decade : What Can We Learn from It?

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

text

2011-01

http://www2.econ.osaka-u.ac.jp/library/global/dp/0833R.pdf

* Revised: Credit Crunch: A Lesson from the Japanese Case [08-33, 2008]

This paper aims to elucidate whether supply side factors played a crucial role in causing the“reluctance to lend" in Japan in the 1990s. We estimate loan supply and demand functions usingprefectural panel data and calculate their shifts. Our analysis reveals that the demand sideplayed an equal or greater role, even in the context of the historical financial crisis in Japanduring the period 1997–2000, and that the reluctance to lend was severer in the urbanprefectures. These findings suggest that countermeasures in the banking sector that uniformlyinfluence all regions may not achieve the expected recovery.

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Reluctance to Lend and Its Spatial Differences in Japan's Lost Decade : What Can We Learn from It?

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

2011-01

Discussion Papers In Economics And Business

08-33-Rev.

https://hdl.handle.net/11094/13290

http://www2.econ.osaka-u.ac.jp/library/global/dp/0833R.pdf