For a large part of the past decade Japan has witnessed a steady deterioration in the health of its banking system. This deterioration, which set in with the bursting of the asset bubble at the end of the 1980s, culminated in a full blown systemic crisis in 1997 following the failure of a number of high profile financial institutions. Given the relatively large size of Japanese banks and their predominance in corporate funding in Japan, this crisis has had profound implications for both the Japanese and the global economy
Bibliography
Bibliographical references: pages 45-47
Notes
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