Japan's Lost Decade Offers Lessons For Current Global Turmoil Dec 08
Standard & Poors, December 2008
Abstract
The processes that Japan used to solve its nonperforming loan (NPL) crisis of the early 1990s and the lessons learned could be useful in addressing the current global financial turmoil. Japan's NPL problem, which surfaced after the economic bubble burst in 1992, took 12 years to solve. The process was prolonged mainly due to the following: The government failed to comprehend the gravity of the problem at the initial stage, and, as a result, failed to take prompt and drastic action, such as the injection of public funds. The government's actions were small and incremental, and did not function effectively. The prolonged economic slump created new NPLs. The absence of drastic policies was attributable to the government's insufficient financial flexibility...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Shinsei Bank Ltd.
- Japan (Unsolicited Ratings)
- Norinchukin Bank
- Daiwa Securities Group Inc.
- Aozora Bank Ltd.
- Sumitomo Mitsui Trust Bank Ltd.
- Mitsubishi UFJ Trust and Banking Corp.
- Shizuoka Bank Ltd.
- Chiba Bank Ltd.
- Ashikaga Bank Ltd.
- Joyo Bank Ltd. (Unsolicited Ratings)
- Gunma Bank Ltd.
- Daishi Bank Ltd. (Unsolicited Ratings)
- Bank of Kyoto Ltd.
- Hyakugo Bank Ltd.
- Hiroshima Bank Ltd. (Unsolicited Ratings)
- Bank of Fukuoka Ltd.
- Bank of Nagoya Ltd.
- Higo Bank Ltd.
- Hokkoku Bank Ltd.
- Kagoshima Bank Ltd.
- Shiga Bank Ltd.
- Yamaguchi Bank Ltd.
- Keiyo Bank Ltd.
- Chuo Mitsui Trust & Banking Co. Ltd.
- Bank of Iwate Ltd.
- Mizuho Trust & Banking Co. Ltd.
- Sumitomo Mitsui Banking Corp.
- Sony Bank Inc.
- Mizuho Bank Ltd.
- Mizuho Corporate Bank Ltd.
- Mitsubishi UFJ Financial Group Inc.
- Resona Bank Ltd.
- Mizuho Financial Group Inc.
- Sumitomo Mitsui Financial Group Inc.
- Bank of Tokyo-Mitsubishi UFJ Ltd.
- Citigroup Japan Holdings Corp.
- Trust & Custody Services Bank Ltd.
- Hokuriku Bank Ltd.
- Nomura Trust & Banking Co. Ltd.
- Toho Bank Ltd.
- Iyo Bank Ltd.
- Bank of Yokohama Ltd. (Unsolicited Ratings)
- Hachijuni Bank Ltd.
- Nanto Bank Ltd.
- Nomura Holdings Inc.
- Seven Bank Ltd.
- Japan Trustee Services Bank Ltd.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
