earticle

영어

The purpose of this paper is to analyze the causes and evolution of the 1990s financial crisis in Japan. Main focus is put on attempt to come to grip with the lessons that Japan bank restructring efforts during the the financial crisis hold for banking policy in korean financial crisis in 1997. The existence of implicit insurance protection(which made expicit in the 1990s) meant that Japanese bank depositors were little concerned about the potential loss of deposits placed in Japanese banks, and therefore, had scant incentive to exercise discipline on banks. Additionally, Japanese banks have much closer relationships with affiliated firms than American banks have had traditionally. In addition to fact-finding future policy issues for future development of banking industry are also discussed.