Japans Financial Instability in 1990s
As for the issue of Japans financial instability in 1990s, mainstreams specialists considered the Japan model of the financial system as the root cause. Differing with that, this paper, interpreting the bubble in 1980s due to the securitization and internationalization, and the mechanism behind the prolonged economic stagnation after the bubble, argues that late starting and rapid progressing securitization, structural change of security market in 1980s is one of the main causes of the bubble in 1990s.
Japan financial system securitization nonperforming-loan credit constraint
ITOH Masanao
Graduate School of Economics, University of Tokyo, Tokyo, Japan, 113-8654
国际会议
大连
英文
1-5
2009-06-29（万方平台首次上网日期，不代表论文的发表时间）