Financial System Reform in Poland: Lessons from Japan's Main Bank System

Hoshi, Takeo; Kashyap, Amit Kumar; Loveman, Gary W.

doi:10.1093/0198288999.003.0017

Cited by 15 publications

(4 citation statements)

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“…This vision of Japanese firms and governance has engendered predictable reformist consequences. In the early 1990s, for example, Aoki and several others urged transitional economies to institutionalize a "main bank system" rather than the "Anglo-American" corporate governance model (e.g., Hoshi, Kashyap, and Loveman 1994). Avoid turning instinctively to decentralized market finance, they suggested.…”

Section: Reformmentioning

confidence: 99%

The Myth of the Main Bank: Japan and Comparative Corporate Governance

Miwa

Ramseyer²

2002

Law & Social Inquiry

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If our facts don't fit the theory, we need new theory. And why not? Ostensibly at least, we write these articles to understand the world we live in. Our theory serves a purpose if it helps us understand. If it doesn't fit the facts, how could it do that? If it doesn't fit the facts, we need new theory. In fact, of course, we don't. At least not necessarily-for facts are not always what they seem. As we all know, we rarely work with raw empirical phenomena. We use selected, sorted phenomena, and we cannot select and sort without theoretical priors. Sometimes, when the theory doesn't fit the facts, we need new facts. For years, in the academy we used "facts" from Japan to prove the culturally determined character of theory, and none more so than economic theory. Alas, we more often showed how tenaciously we could cling to even the most wildly implausible "facts." Where standard economic theory

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Section: Reformmentioning

confidence: 99%

The Myth of the Main Bank: Japan and Comparative Corporate Governance

Miwa

Ramseyer²

2002

Law & Social Inquiry

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show abstract

“…This vision of Japanese firms and governance has engendered predictable reformist consequences. In the early 1990s, for example, Aoki and several others urged transitional economies to install a "main bank system" rather than the "Anglo-American" corporate governance model ( e.g., Hoshi, Kashyap & Loveman, 1994). Avoid turning instinctively to decentralized market finance, they suggested.…”

Section: Reformmentioning

confidence: 99%

The Myth of the Main Bank: Japan and Comparative Corporate Governance

Miwa

Ramseyer²

2001

SSRN Journal

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“…This process culminated in the Munitions Companies Designated Financial Institutions System in January 1944 under which each munitions company was assigned a major bank to take care of its financial needs. According to Hoshi, Kashyap and Loveman (1994), many of these relationships subsequently provided the foundations for the postwar "main bank" system.…”

Section: Japanmentioning

confidence: 99%

Policy-Based Finance and Market Alternatives: East Asian Lessons for Latin America and the Caribbean

Allen,

Shibata,

Santomero

et al. 1997

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This book contains a selection of the major presentations from the conference: "Policy-Based Finance and Alternatives for Financial Market Development" held in Rio de Janeiro, Brazil in early 1996. It explores the generally successful East Asian experiences with policy-based finance and contrasts these with the less successful, directed credit programs undertaken by Latin American and Caribbean governments in their attempts to support specific sectors of their respective economies. This volume extracts universal lessons that are applicable to emerging markets and applies them to the market approach underway in most of the countries in Latin America and the Caribbean.

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Financial System Reform in Poland: Lessons from Japan's Main Bank System

Cited by 15 publications

References 0 publications

The Myth of the Main Bank: Japan and Comparative Corporate Governance

The Myth of the Main Bank: Japan and Comparative Corporate Governance

The Myth of the Main Bank: Japan and Comparative Corporate Governance

Policy-Based Finance and Market Alternatives: East Asian Lessons for Latin America and the Caribbean

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