Center for Japanese Studies Noon Lecture
Time: 12:00 PM-1:00 PM
"Bank Integratioin and Transmission of Financial Shocks: Evidence from Japan"
Speaker: Masami Imai
Room 1636, School of Social Work Building
1080 South University
Ann Arbor MI 48109-1106
This paper investigates whether banking integration plays an important role in transmitting financial shocks across geographical boundaries by using a data set on the branch network of nation-wide city banks and a prefecture-level data set on the formation and collapse of the real estate bubble in Japan. The results show that the credit and economic cycle of financially integrated prefectures exhibits higher sensitivity to fluctuation in land prices in the cities relative to financially isolated ones. These results suggest nation-wide banks can be a source of economic volatility when they pass on the impacts of financial shocks to host economies.
is Associate Professor of Economics and the Chair of East Asian Studies at Wesleyan University in Middletown, CT. He teaches classes in Quantitative Methods in Economics, Money and Banking, Economies of East Asia, and Economy of Japan. He graduated from University of Wisconsin Eau Claire and holds a Ph.D. degree in Economics from University of California-Davis. He has held visiting position at World Bank, and has received research support from the Mellon Foundation and the Federal Deposit Insurance Corporation Center for Financial Research. His work has been published in Journal of Money, Credit, and Banking, Journal of Law and Economics, Public Choice, Journal of Banking and Finance, Explorations in Economic History, Asian Economic Journal. His current research focuses on the financial history of Japan and Japan’s postal saving system.
Event Phone: 734.764.6307
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Event URL: http://www.ii.umich.edu/cjs/