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

The Japanese Main Bank System

Its Relevance for Developing and Transforming Economies

By: Masahiko Aoki (Editor), Hugh Patrick (Editor)

Hardcover

Published: 16th February 1995
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BL Gives a definitive description and analysis of the main bank system BL Strong contributors BL Understudied subject BL Incorporates results of a major World Bank research programme BL 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 its approprate 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 market institutions 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,

`Allows editors Masahiko Aoki and Hugh Patrick to deploy the insights of another 18 contributors to present key facets of this powerful system (from its origins and current institutional frameworks to its company finance patterns) in fair detail, before very usefully placing it in comparative context.' Insight Japan `This is a mighty tome of some 650 pages which radiates authority ... There will be much of value to specialist academics who are interested in the lessons to be learned from Japanese practice.' The Japan Society `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

the Japanese Main Bank Systemp. i
The Japanese Main Bank Systemp. iii
List of Figuresp. vii
List of Tablesp. viii
Forewordp. xiii
Acknowledgementsp. xv
Contributorsp. xvii
Introductionp. xxi
the Japanese Main Bank Systemp. 1
Referencesp. 48
Loan Syndication in War-Time Japan and the Origins of the Main Bank Systemp. 51
Appendixp. 81
Referencesp. 87
Institutional and Regulatory Frameworks for the Main Bank Systemp. 89
Referencesp. 108
Monitoring Characteristics of the Main Bank System: an Analytical and Developmental Viewp. 109
Referencesp. 140
the Role of Long-Term Credit Banks Within the Main Bank Systemp. 142
Referencesp. 184
Main Banks and the Governance of Financial Distressp. 188
Appendixp. 213
Explicit Reasons for Implicit Contracts: the Legal Logic to the Japanese Main Bank Systemp. 231
Referencesp. 254
the Effect of Firm Status on Banking Relationships and Loan Syndicationp. 258
Referencesp. 293
the Development of Main Bank Managerial Capacityp. 295
Referencesp. 324
Referencesp. 349
the Comparative Context: Relevance for Developing and Transforming Economiesp. 351
the Relevance of Japanese Finance and Its Main Bank Systemp. 353
Referencesp. 407
the German Banking System and Its Impact on Corporate Finance and Governancep. 409
Appendixp. 491
the Lead Bank Systems in Indiap. 494
Referencesp. 522
the Reprivatization of Banking in Mexicop. 524
Referencesp. 550
Financial System Reform in China: Lessons from Japan's Main Bank Systemp. 552
Referencesp. 630
Index of Authorsp. 635
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780198288992
ISBN-10: 0198288999
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 684
Published: 16th February 1995
Publisher: Oxford University Press
Country of Publication: GB
Dimensions (cm): 24.3 x 16.1  x 4.1
Weight (kg): 1.25