Skip to main content

Part of the book series: Innovations in Financial Markets and Institutions ((IFMI,volume 12))

Abstract

The banking and financial crisis that started with the collapse of asset prices in 1990 and 1991 and dominated the 1990s stands in stark contrast to Japan’s previous postwar record of economic growth, financial stability, and progress toward financial liberalization.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.00
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 219.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Similar content being viewed by others

References

  • Aoki, Masahiko and Hugh Patrick, eds. 1994. The Japanese Main Banking System. Oxford: Oxford University Press.

    Google Scholar 

  • Cargill, Thomas F. 1988. “Korea and Japan: The End of the Japanese Financial Regime.” In George Kaufman, ed, Bank Crisis: Causes, Analysis and Prevention. London: JAI Press, Inc.

    Google Scholar 

  • Cargill, Thomas F. 1989. Central Bank Independence and Regulatory Responsibilities: The Bank of Japan and the Federal Reserve. Salomon Brothers Center for the Study of Financial Institutions, New York University.

    Google Scholar 

  • Cargill, Thomas F, Michael M Hutchison, and Takatoshi Ito. 1996. “Deposit guarantees in Japan: Aftermath of the bubble and burst of the bubble economy.” Contemporary Economic Policy, 1996 July: 41–52.

    Google Scholar 

  • Cargill, Thomas F, Michael M Hutchison, and Takatoshi Ito. 1997. The Political Economy of Japanese Monetary Policy. Cambridge MA: The MIT Press.

    Google Scholar 

  • Cargill, Thomas F, Michael M Hutchison, and Takatoshi Ito. Forthcoming. Financial Policy and Central Banking in Japan. Cambridge MA: The MIT Press.

    Google Scholar 

  • Cargill, Thomas F and Shoichi Royama. 1988. The Transition of Finance in Japan and the United States. Stanford CA: Hoover Institution Press.

    Google Scholar 

  • Cargill, Thomas F and Naoyuki Yoshino. 1998.’ Too big for its boots.” The Financial Regulator, 3 (1998 Dec): 39–43.

    Google Scholar 

  • Cargill, Thomas F and Naoyuki Yoshino. “Postal Savings and Policy Based Finance.” Chapter 6 in this volume.

    Google Scholar 

  • Cole, David. 1993. “The Political Economy of Korean-U.S. Financial Relations.” Korean-U.S. Financial Issues. Washington DC: Korea Economic Institute of America.

    Google Scholar 

  • Craig, Valentine V. 1998. “Japanese Banking: A Time of Crisis.” FDIC Banking Review, 11(2): 9–17.

    Google Scholar 

  • Feldman, Robert Alan. 1986. Japanese Financial Markets: Deficits, Dilemmas, and Deregulation. Cambridge MA: The MIT Press.

    Google Scholar 

  • Fukao, Mitsuhiro. 1998. “Japan’s Role in the International Trading System: Prospects for Market Liberalization and Economic Reform.” Testimony before the Committee on Finance, United States Senate, 1998 July 14.

    Google Scholar 

  • Hamada, Koichi and Akiyoshi Horiuchi. 1987.’ The Political Economy of the Financial Market.” In Kozo Yamamura and Yasukichi Yasuba, eds, The Political Economy of Japan, v I. Stanford: Stanford University Press.

    Google Scholar 

  • Huh, Chan Guk and Sun Bae Kim. 1994. “Financial Regulation and Banking Sector Performance: A Comparison of Bad Loan Problems in Japan and Korea.” Economic Review, Federal Reserve Bank of San Francisco, 1994 (2).

    Google Scholar 

  • Krugman, Paul. 1994.’ The Myth of Asia’s Miracle.” Foreign Affairs, 1994 Nov–Dec: 62–78.

    Google Scholar 

  • Kuwayama, Patricia Hagan. 1997 Oct. “Postal Banking in the United States and Japan: A Comparative Analysis.” Center on Japanese Economy and Business, Columbia Business School, Working Paper 139. To be published in Monetary and Economic Studies, the Bank of Japan.

    Google Scholar 

  • Mikitani, Ryoichi and Patricia Hagan Kuwayama. 1998 Aug. “Japan’s New Central Banking Law: A Critical View.” Center on Japanese Economy and Business, Columbia Business School, Working Paper 145.

    Google Scholar 

  • Patrick, Hugh. 1994. “The Relevance of Japanese Finance and its Main Bank System.” In Masahiko Aoki and Hugh Patrick, eds, The Japanese Main Banking System. Oxford: Oxford University Press.

    Google Scholar 

  • Patrick, Hugh. 1999. “The Causes of Japan’s Financial Crisis.” Pacific Economic Papers #288, Australia-Japan Research Centre, the Australian National University.

    Google Scholar 

  • Suzuki, Yoshio. Money and Banking in Contemporary Japan. Yale University Press, 1980.

    Google Scholar 

  • Suzuki, Yoshio, ed. 1987. The Japanese Financial System. Oxford: Claredon Press.

    Google Scholar 

  • Ueda, Kazuo. 1999. “Causes of the Japanese Banking Instability in the 1990s.” Chapter 3 in this volume.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2000 Springer Science+Business Media New York

About this chapter

Cite this chapter

Cargill, T.F. (2000). What Caused Japan’s Banking Crisis?. In: Hoshi, T., Patrick, H. (eds) Crisis and Change in the Japanese Financial System. Innovations in Financial Markets and Institutions, vol 12. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-4395-4_2

Download citation

  • DOI: https://doi.org/10.1007/978-1-4615-4395-4_2

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-1-4613-6977-6

  • Online ISBN: 978-1-4615-4395-4

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics