Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/293902 
Year of Publication: 
2021
Citation: 
[Journal:] Credit and Capital Markets – Kredit und Kapital [ISSN:] 2199-1235 [Volume:] 54 [Issue:] 1 [Year:] 2021 [Pages:] 1-16
Publisher: 
Duncker & Humblot, Berlin
Abstract: 
The bursting of the Japanese bubble economy in the early 1990s put the stage for a lasting low-, zero-, and negative-interest rate environment, which fundamentally changed the business environment for the Japanese commercial banks. On the income side, with interest margins becoming increasingly depressed, net interest revenues declined, which forced the banks to expand revenues from fees and commissions. The banks had to cut costs by reducing the number of employees, closing branches and merging into larger banks. The gradual concentration process has most recently cumulated in the relaxation of the monopoly law. With the capital allocation function of banks being undermined, the Japanese economy has become zombified, suffering from anemic growth.
Subjects: 
Japan
Bank of Japan
monetary policy
banks
interest margin
financial repression
concentration
regional banks
JEL: 
E52
G21
E50
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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