Managing the Bank-System Crisis in Coordinated Market Economies
Institutions and Blame Avoidance Strategies in Sweden and Japan
Bibliographic Data
| ID | 6263753 |
|---|---|
| Authors | Torsten Svensson (Uppsala University), Masaru Mabuchi (Kyoto University), Ryunoshin Kamikawa (The University of Osaka) |
| Year | 2006 |
| Volume | 19 |
| Issue | 1 |
| Pages | 43-74 |
| Publication date | 2006-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Governance (JOURNAL) |
| Journal identifiers | ISSN: 0952-1895 • E-ISSN: 1468-0491 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0491.2006.00303.x |
| OpenAlex | W2032396689 |
| Language | EN |
| Citations received | 5 |
| References cited | 27 |
Sweden and Japan represent two different positions regarding policymaking when faced with similar crises of the bank systems. Different institutional settings led the main actors to different paths of reactions in order to avoid blame. In the Japanese case, the very close relationship between private banks and the Ministry of Finance, in combination with the lesser degree of widespread perceptions of a system crisis, made it more urgent as well as possible to conceal the actual state of affairs for the politicians. Confronted with the threat of losing power over the financial administration to a new agency, the ministry postponed the reforms in order to conceal the deep financial problems. The institutional setting was different in Sweden. Deregulation had separated the government from the administration of banks. Among the public deteriorating economic conditions were easily connected to the banks. This brought about political unity. It was possible to put the blame on the banks and take the credit for the efforts to tidy up the mess without losing credibility
Administration (probate law · Agency (philosophy · Blame · Business · Credibility · Deregulation · Economic growth · Economic policy · Economics · Financial crisis · Financial system · Government (linguistics · Market economy · Order (exchange · Political science · Politics · Private sector · Sociology · Banking stability, regulation, efficiency · Global Financial Crisis and Policies · Social Policy and Reform Studies · Finance
Financial Politics in Contemporary Japan
Governments, Markets, and Growth
Democracy, Bureaucracy and Public Choice
Varieties of Capitalism
An Introduction to Varieties of Capitalism
Dismantling the Welfare State?
Just Institutions Matter
Ideas and Foreign Policy
Unmaking the Japanese Miracle
The Politics of Blame Avoidance
The Risk Game and the Blame Game
Government Partisanship and Managing the Economy
The Crisis of German and Japanese Capitalism
Does Discourse Matter in the Politics of Welfare State Adjustment
Structural Gaiatsu
It's Baaack
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,25 |
| Citation span | 2006 - 2023 (18) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 5 |