This study examines the effectiveness of bank recapitalization policies in Japan. Based on a reading of the "business revitalization plan" submitted by banks requesting government funds, we identify four primary goals for the capital injection plan in Japan: (1) to increase the bank capital...

This study empirically analyzes the impact of the United States’ bank recapitalization program, the centerpiece of the United States’ $700 billion Troubled Asset Relief Program (TARP), on bank portfolios. Through superior empirical analysis and correct model specification, our findings...

It is widely recognized that while high and sustained economic growth is critical for poverty reduction, there are other policy interventions that may also be significant in a ‘growth plus’ approach to poverty reduction. This volume brings together a series of case studies on the...

Following a comprehensive overview by the editor, this book offers a detailed assessment of the results of directly channelling resources to the poor and extensively discusses the experience of five Asian countries – India, Indonesia, the People’s Republic of China, the Philippines...

“Best practice” in microfinance holds that interest rates should be set at profit-making levels, based on the belief that even poor customers favor access to finance over low fees. Despite this core belief, little direct evidence exists on the price elasticity of credit demand in poor...

This study examines the effect of banking sector consolidation on bank profit and cost efficiency using data from Japan. Our analysis shows that bank merger events have little impact on profit efficiency, but significantly lower cost efficiency. This suggests that government-coordinated...

Microfinance institutions (MFIs) are often seen by aid practitioners as a manifestly effective means of improving the position of the poor. Despite this widely held view, detailed research studies have been much more guarded about the impact of MFIs. In particular, several studies have raised...