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Identifier to cite or link to this item: https://hdl.handle.net/10086/22873

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Title
Interbank Networks in Prewar Japan: Structure and Implications Interbank Networks in Prewar Japan: Structure and Implications
Creator
Creator Name
Okazaki, Tetsuji Okazaki, Tetsuji
Affiliation
Affiliation Name
The University of Tokyo
Creator Name
Sawada, Michiru Sawada, Michiru
Affiliation
Affiliation Name
Nihon University
Key Word
Networks
Banks
Director Interlocking
Mergers
Japan
JEL
G21
G34
L14
L22
N25
Abstract
In this paper, we explore the structure and implications of interbank networks in prewar Japan, focusing on director interlocking. We find that approximately half the banks had at least one connection with another bank through director interlocking, and that a bank that had connections with other banks was less likely to fail than a bank without a network. The quality of networks also matters in the sense that the failure probability of a bank with a network was negatively associated with the profitability of the connected banks. On the other hand, there is no strong evidence of financial contagion through networks. In addition, networks of director interlocking contributed to the stabilization of the financial system through coordinating bank mergers.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2011-07
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
PRIMCED Discussion Paper Series ; No. 21
Relation
Related Identifier
URI
  http://www.ier.hit-u.ac.jp/primced/e-index.html
Number of Pages
43
Sponsorship
基盤研究(S) = Grants-in-Aid for Scientific Research (S)
Appears in Collections
PRIMCED Discussion Paper Series
URL
https://hdl.handle.net/10086/22873