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Non-Performing Assets of Banks and Financial Intermediation: Experiences of Japan in the Inter-War Period

Author

Listed:
  • Munehisa Kasuya

    (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan)

Abstract

The Japanese banks are now holding a lot of non-performing assets as asset prices fall. The Japanese banks were also holding a large amount of non-performing assets in the inter-war period. The experiences of Japan in the inter-war period may provide useful lessons for the problem of today's Japanese banks. In this paper, we consider what effects the non-performing assets of the Japanese banks had on the financial intermediation in the inter-war period. In addition, we analyze economic meanings of those effects. We can infer from several evidences that there were the deterioration of financial intermediation in the inter-war period. According to the experiences in the inter-war period, we can also infer that the prompt action in required collection and required redemption of non-performing assets might be effective in the recovery of financial intermediation.

Suggested Citation

  • Munehisa Kasuya, 1998. "Non-Performing Assets of Banks and Financial Intermediation: Experiences of Japan in the Inter-War Period," Discussion Paper Series 99, Research Institute for Economics & Business Administration, Kobe University.
    • Handle: RePEc:kob:dpaper:99
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    More about this item

    Keywords

    Financial market; Japan; Banks;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

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