How Can We Effectively Resolve the Financial Crisis: Empirical Evidence on the Bank Rehabilitation Plan of the Japanese Government
How Can We Effectively Resolve the Financial Crisis: Empirical Evidence on the Bank Rehabilitation Plan of the Japanese Government
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如何有效化解金融危机：日本政府银行重整计划的经验证据
DOI：
10.1016/j.pacfin.2005.06.003
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发表时间：
2006
影响因子：
4.6
通讯作者：
Katsutoshi Shimizu
中科院分区：
文献类型：
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作者：
Katsutoshi Shimizu
日本经济在90年代末发生严重的金融危机时，政府为了迅速解决危机，向银行注资，要求银行制定并实施复兴计划。本文通过实证分析，考察了该计划（复兴计划）是否有效，强调了加强银行业的健全性（防止银行倒闭）与扩大信贷供给（改善宏观经济）之间的矛盾。我们提出的经验证据，这种不一致性，并认为，政府未能迅速解决严重的金融危机，在日本，由于这一原因。
When the Japanese economy experienced a serious financial crisis in the late 1990s, the government attempted to promptly resolve this crisis by injecting public funds into bank capital, requiring these banks to compose and implement a rehabilitation plan. This paper empirically investigates whether this plan (the Business Revitalization Plan) worked effectively, emphasizing the inconsistency between strengthening the soundness of the banking industry (preventing bank failures) and expanding credit supply (improving macroeconomy). We present empirical evidence on this inconsistency and argue that the government failed to promptly resolve the serious financial crisis in Japan due to this reason.