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

by Masahiko Aoki, Hugh Patrick

Overview

A thorough empirical and theoretical analysis of the Japanese main bank system, this book also examines the relevance of the system as a model for developing market economies and transforming socialist economies the world over. The basic characteristics of the main bank system are examined here: its roots, development, and role in the heyday of its rapid growth, as well as its performance, strengths and weaknesses. The work goes on to look at how the system has changed over the last two decades. The contributors conclude that banking-based systems are in most cases the most appropriate for industrial financing until a relatively late stage of a country's economic and financial development. Incorporating the results of a major World Bank research program, the volume brings together some of the best scholars in the field and will be of interest to specialists in Japanese studies and those with a general interest in systems of finance.

Product Details

ISBN-13:	9780198288992
Publisher:	Oxford University Press
Publication date:	04/13/1995
Edition description:	REV
Pages:	684
Product dimensions:	6.63(w) x 9.50(h) x 1.84(d)

About the Author

Stanford and Kyoto Universities

Columbia University Business School

Table of Contents

List of FiguresList of TablesForeword, Michael BrunoAcknowledgementsContributorsIntroduction, Masahiko Aoki and Hugh PatrickPart I: The Japanese Main Bank System1. The Japanese Main Bank System: An Introductory Overview, Masahiko Aoki, Hugh Patrick and Paul Sheard2. Loan Syndication in War-Time Japan and the Origins of the Main Bank System, Juro Teranishi3. Institutional and Regulatory Frameworks for the Main Bank System, Kazuo Ueda4. Monitoring Characterisitcs of the Main Bank System: An Analytical and Developmental View, Masahiko Aoki5. The Role of Long-Term Credit Banks Within the Main Bank System, Frank Packer6. Main Banks and the Governance of Financial Distress, Paul Sheard7. Explicit Reasons for Implicit Contracts: The Legal Logic tot he Japanese Main Bank System, J. Mark Ramseyer8. The Effect of Firm Status on Banking Relationships and Loan Syndication, Toshihiro Horiuchi9. The Development of Main Bank Managerial Capacity, Satoshi Sunamura10. Changing Patterns of Corporate Financing and the Main Bank System in Japan, John Y. Campbell and Yasushi HamaoPart II: The Comparative Context: Relevance for Developing and Transforming Economies11. The Relevance of Japanese Finance and Its Main Bank System, Hugh Patrick12. The German Banking System and Its Impact on Corporate Finance and Governance, Theodor Baums13. The Principle Transactions Bank System in Korea, Sang-Woo Nam and Dong-Won Kim14. The Lead Bank Systems in India, V. V. Bhatt15. The Reprivatization of Banking in Mexico, Clark W. Reynolds16. Financial System Reform in China: Lessons From Japan's Main Bank System, Yingyi Qian17. Financial System Reform in Poland: Lessons From Japan's Main Bank System, Takeo Hoshi, Anil Kashyap and Gary LovemanIndex

Editorial Reviews

"[The book] presents a well-balanced mixture of the description of practices, theoretical analyses, and impirical evidence to comprehensively explain the main bank relationship in the context of the Japanese financial system."—Journal of Japanese Studies

From the Publisher