CIRJE-J-150 | 『戦間期日本の銀行間ネットワークと金融システム』
"Role of Inter-bank Networks in the Pre-war Japanese Financial System" |
Author Name | 岡崎哲二(Tetsuji Okazaki) 澤田充(Michiru Sawada) |
Date | March 2006 |
Full Paper | PDF file (only Japanese version available) |
Remarks | 猪木武徳編『戦間期日本の社会集団とネットワーク』NTT出版、2008年 所収。 |
Abstract (Japanese) | Abstract (English) |
| In this paper we identify networks among banks in pre-war Japan based on director interlocking data, and explore their implications. It was found that nearly 60% of banks had interlocking ties with at least one other bank. The large regional banks tended to have many interlocking ties. One of the effects of the inter-bank networks was reducing the probability of bank failure. This result is consistent with the descriptive evidences that banks supported a bank in the same network through supplying liquidity, in case it was faced with liquidity shortage. At the same time, a bank tended to choose a bank in the same network as a counterpart of consolidation, which suggests that inter-bank networks lowered the coordination cost of consolidation. |