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The Contribution of Bank Lending to the Long-Term Stagnation in Japan

Joe Peek

Title:
The Contribution of Bank Lending to the Long-Term Stagnation in Japan
Author(s):
Peek, Joe
Date:
Type:
Working papers
Department:
Center on Japanese Economy and Business
Persistent URL:
Series:
Center on Japanese Economy and Business Working Papers
Part Number:
273
Publisher:
Center on Japanese Economy and Business, Graduate School of Business, Columbia University
Publisher Location:
New York
Abstract:
While it is well established that bank lending to severely impaired (zombie) Japanese firms during the 1990s was detrimental to the Japanese economy, bank lending to troubled, but economically viable, firms may have had beneficial effects. The objective of this study is to investigate the consequences of increased bank lending to distressed Japanese firms in order to determine the extent to which those increased loans contributed to the recovery of distressed firms, rather than being used to insulate the firms from market forces in order to avoid the painful, but needed, restructuring. That is, is increased lending to a distressed firm associated with an improvement in the subsequent performance of the firm?
Subject(s):
Economics, Commerce-Business
Item views
297
Metadata:
text | xml
Suggested Citation:
Joe Peek, 2009, The Contribution of Bank Lending to the Long-Term Stagnation in Japan, Columbia University Academic Commons, http://hdl.handle.net/10022/AC:P:29719.

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