This paper aims to answer this question: What were the causes of the severe slowdown in bank credit in Japan between 1999 and 2005? We test three credit crunch hypotheses, all together. The empirical results uncover the occurrence of a credit crunch that is attributed to bankers’ precautionary behavior rather than direct regulatory capital worries.
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Research Article| August 01 2015
Japanese Regulation Policy and Credit Crunch: Evidence from the Ultra-Expansionary Monetary Policy Period
Asian Survey (2015) 55 (4): 822–843.
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Brahim Guizani; Japanese Regulation Policy and Credit Crunch: Evidence from the Ultra-Expansionary Monetary Policy Period. Asian Survey 1 August 2015; 55 (4): 822–843. doi: https://doi.org/10.1525/as.2015.55.4.822
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