The Economic Impact of Herd Behavior in the Japanese Loan Market

Material type: 文書・図像類

Author: 中川, 竜一ほか

Publisher: Economic Society of Kansai University

Publication date: 2010

Material Format: Digital

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Note (General)：: This paper investigates whether inefficient herd behavior of Japanese financial institutions in the domestic loan market affected the real economy dur...

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Material Type: 文書・図像類
Title: The Economic Impact of Herd Behavior in the Japanese Loan Market
Author/Editor: 中川, 竜一
大岩, 秀和
武田, 史子
Author Heading: 中川, 竜一
大岩, 秀和
武田, 史子
Publication, Distribution, etc.: Economic Society of Kansai University
Publication Date: 2010
Publication Date (W3CDTF): 2010
Periodical title: Working Paper Series
No. or year of volume/issue: F-43
Volume: F-43
Pages: 1-25
Text Language Code: eng
Subject Heading: impact of herding
loan market
economic bubble
Target Audience: 一般
Note (General): This paper investigates whether inefficient herd behavior of Japanese financial institutions in the domestic loan market affected the real economy during the period between 1975 and 1999. By using Japanese loan data,arranged by geographical area,we show that the loans that stemmed from inefficient herd behavior of Japanese financial institutions tenderd to have a negative impact on the GDP and land prices in the following years,while aggregated loans of those financial institutions had a positive impact. Our results indicate that the deterioration of the real economy in the 1990s may have been attributable partly to the inefficient herd behavior in the Japanese loan market during the period of the economic bubble in the late 1980s.
Paper in Western Economic Association International 85th Annual Conference, 2010
Access Restrictions: 限定公開
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
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Original Data Provider (Database): 関西大学 : 関西大学学術リポジトリ