We investigate the changing role and direction of Japanese bank internationalisation with an emphasis on the period from 1995 to 2008. In recent years Japan has gone from being a net receiver of international bank lending of US$230 billion (1995) to a net lender to international banks of US$235...

This study develops an equilibrium model of credit spreads on Japanese yen Eurobonds based on a model proposed by Collin-Dufresne, Goldstein and Martin (2001). We find the asset factor, as proxied by the change in the stock market index, has only a limited effect, while the interest rate factor...

In the past decade, academic research has been awash with proposals on how Japan should reform, redesign and administer its bank-based financial system ( Schinasi & Smith, 1998 ; Kuratani & Endo, 2000 ; Hattori, Koyama, & Yonetani, 2001 ; Rhee, 2001 ; Baba & Hisada, 2002 ; Batten & Szilagyi,...