2012 Fiscal Year Final Research Report
Interbank network and contagious withdrawal of deposits:Empirical analyses of prewar Japan
| Project/Area Number |
23730309
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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 | Nihon University |
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Principal Investigator |
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| Project Period (FY) |
2011 – 2012
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| Keywords | 銀行 / ネットワーク / 伝染効果 / 合併 |
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| Research Abstract |
In this study, we explore the structure and implications of interbank networks in prewar Japan, focusing on director interlocking. We find that approximately half the banks had at least one connection with another bank through director interlocking, and that a bank that had connections with other banks was less likely to fail than a bank without a network. The quality of networks also matters in the sense that the failure probability of a bank with a network was negatively associated with the profitability of the connected banks. On the other hand, there is no strong evidence offinancial contagion through networks.
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