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Incentive Effects of Conditional Bank Recapitalisation: Lending and Disclosure of Non-Performing Loans

In: Banking, Capital Markets and Corporate Governance

Author

Listed:
  • Philippe Aghion
  • Patrick Bolton
  • Steven Fries

Abstract

It is widely believed that one of the main sources of the prolonged economic slump of the Japanese economy in the 1990 is the collapse of asset and real estate prices, which have led to a banking crisis of an unprecedented scale. It is in large part the failure promptly to resolve this banking crisis that has led to a prolonged and massive recession. With a large fraction of non-performing loans, a reduced capital base and substantially lower liquidity the banking sector has dramatically reduced new lending activity and provoked a huge credit crunch.

Suggested Citation

  • Philippe Aghion & Patrick Bolton & Steven Fries, 2001. "Incentive Effects of Conditional Bank Recapitalisation: Lending and Disclosure of Non-Performing Loans," Palgrave Macmillan Books, in: Hiroshi Osano & Toshiaki Tachibanaki (ed.), Banking, Capital Markets and Corporate Governance, chapter 3, pages 31-50, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28814-0_3
    DOI: 10.1057/9780230288140_3
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    Cited by:

    1. Osano, Hiroshi, 2002. "Managerial compensation contract and bank bailout policy," Journal of Banking & Finance, Elsevier, vol. 26(1), pages 25-49, January.

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