Bond markets and banks in inter-war Japan
Bibliographic Data
| ID | 8419835 |
|---|---|
| Authors | Makoto Kasuya (a Faculty of Economics, University of Tokyo , Tokyo, Japan, corresponding author) |
| Year | 2009 |
| Volume | 51 |
| Issue | 6 |
| Pages | 907-926 |
| Publication date | 2009-11-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Business History (JOURNAL) |
| Journal identifiers | ISSN: 0007-6791 • E-ISSN: 1743-7938 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00076790903266869 |
| OpenAlex | W2155060339 |
| Language | EN |
| References cited | 17 |
The issuance of bonds increased in inter-war Japan, the main investors being banks because the demand for loans declined in this period. Banks that were more tolerant to risk (that is, whose capital ratio was higher) made a larger amount of loans, which were riskier than bonds. While national bonds were traded actively in secondary markets, local bonds, corporate bonds, and bank debentures were not traded actively during this period. After the formation of cartels of banks and securities firms for bond underwriting and trading during the Great Depression, bond trading in secondary markets diminished, except for national bonds
Bond · Bond market · Bond market index · Business · Capital market · Corporate bond · Economics · Financial system · Monetary economics · Secondary market · Stock exchange · Underwriting · Banking stability, regulation, efficiency · Finance
A monetary history of the United States, 1867-1960
Political change and industrial development in Japan
Miti and the Japanese Miracle
The Cambridge History of Japan
Evolution of the Economic System in Japan
A Modern History of Japan
Business Groups and the Big Push
Banking in the Early Stages of Industrialization. A Study in Comparative Economic History
A Monetary History of the United States, 1867-1960
The Progress of Underdeveloped Areas
Miti and the Japanese Miracle. The Growth of Industrial Policy, 1925-1975
| Citation velocity | historical |
|---|---|
| Highly cited | No |