Hoffmann, Mathias; Okubo, Toshihiro - Institut für Volkswirtschaftslehre, … - 2012
How do financial development and financial integration interact? We focus on Japan’s Great Recession after 1990 to … study this question. Regional differences in banking integration affected how the recession spread across the country … lending by nationwide banks and lower GDP growth. We explain these cross-prefectural differences in banking integration by …