The Japanese Main Bank System: Its Relevance for Developing and Transforming Economies

Hardcover | September 1, 1991

EditorMasahiko Aoki, Hugh Patrick

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* Gives a definitive description and analysis of the main bank system * Strong contributors * Understudied subject * Incorporates results of a major World Bank research programme * Balances institutional description with financial theory and empirical analysis This volume looks at systems of corporate finance, concentrating on the Japanese main bank system. The remaining chapters describe different systems, assessing to what extent the Japanese system can serve as a model for developing market economies and transforming socialist economies. The basic characteristics of the main bank system are examined here, its roots, development, and its role in the heyday of its rapid growth. The volume looks at how the system has performed and at its strengths and weaknesses. It goes on to look at how the system has changed and what itsapproprate role is as deregulation, liberalization, and internationalization of Japan's financial markets have proceeded over the past two decades and a new issue securities market has emerged. A basic conclusion of the book is that banking-based systems are in most cases the most appropriate for industrial financing until a rather late stage of a country's economic and financial development. It aims to identify the conditions under which banks are better able that securites marketinstitutions to evaluate the credit worthiness of borrowers and the viability of new projects, to monitor the ongoing performance of firms, and to rescue or liquidate firms in distress. Contributors: Masahiko Aoki, Theodor Baums, V.V.Bhatt, John Campbell, Yasushi Hamao, Toshihiro Horiuchi, Takeo Hoshi, Anil Kashyap, Dong-Wong Kim, Gary Loveman, Sang-Woo Nam, Frank Packer, Hugh Patrick, Yingyi Qian, Mark Ramseyer, Clark Reynolds, Satoshi Sunamura, Paul Sheard, Juro Teranishi,Kazuo Ueda,

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From the Publisher

* Gives a definitive description and analysis of the main bank system * Strong contributors * Understudied subject * Incorporates results of a major World Bank research programme * Balances institutional description with financial theory and empirical analysis This volume looks at systems of corporate finance, concentrating o...

From the Jacket

This definitive description and analysis of the Japanese main bank system describes a form of relationship banking of significant theoretical and policy interest. As well as being important in its own right, the system also has relevance for developing market economies and transforming socialist economies; the extent of this relevance ...

Masahiko Aoki is Professor of Economics, Stanford and Kyoto Universities. Hugh Patrick is a Professor at Columbia University Business School.

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Format:HardcoverDimensions:684 pages, 9.21 × 6.14 × 1.61 inPublished:September 1, 1991Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198288999

ISBN - 13:9780198288992

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`this work is a substantial observation, backed up by an abundance of rich statistical data from which comparisons can be validly drawn, to provide engaging debate and further discussion'Nick Humphreys, Royal Bank of Canada, Asia Pacific Business Review, Vol. 2, No. 4, Summer '96