Japan's Financial Crisis
At the beginning of the 1990s, a massive speculative asset bubble burst in Japan, leaving the nation''s banks with an enormous burden of nonperforming loans. Banking crises have become increasingly common across the globe, but what was distinctive about the Japanese case was the unusually long delay before the government intervened to aggressively address the bad debt problem. The postponed respon...
At the beginning of the 1990s, a massive speculative asset bubble burst in Japan, leaving the nation''s banks with an enormous burden of nonperforming loans. Banking crises have become increasingly common across the globe, but what was distinctive about the Japanese case was the unusually long delay before the government intervened to aggressively address the bad debt problem. The postponed respon...
