| Project/Area Number |
24730284
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Osaka University of Economics |
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Principal Investigator |
AKIYOSHI FUMIO 大阪経済大学, 経済学部, 准教授 (30454490)
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| Project Period (FY) |
2012-04-01 – 2014-03-31
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| Project Status |
Completed (Fiscal Year 2013)
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| Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2012: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Keywords | 金融危機 / インターバンク市場 |
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| Research Abstract |
Interbank markets play a key role in enhancing the efficiency of financial system. They contribute in the efficient allocation of liquidity among banks. They also facilitate imposition of discipline on bank management, because banks are sufficiently informed to monitor their peers effectively.
We examine the interbank market in Japan during the 1997-98 banking crisis. There was a change in the relationship between borrower risk and the borrowing terms. We find almost no relationships between borrower risk and borrowing terms in the pre-crisis period. In contrast, we find that riskier banks borrowed less from the interbank market during the crisis period. These results suggest that interbank lenders could discriminate between high- and low-risk borrowers even during the crisis. Thus, the crisis did not seriously harm the function of the interbank market.
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