1990s Japanese Financial Crisis

The 1990s Japanese Financial Crisis group:

Group Members/Research roles & sections:

Shaun Balderson - Context.

Samiah Anderson – Zombie Banks  

Sarah Vowden - Policy recommendations

Richard Adomako - Policy recommendations

Trudy Akobeng - Policy recommendations

Katherine Whitaker- Recommendations/what can the rest of world learn from the crash/policies.

After consulting Johnna, we have been advised focus on our research into Japan’s Crisis. Therefore, we have discussed focusing on zombie banks and then will pick 3 actions that the banks and government took to try and solve it (so Richard, Trudy and I will need to discuss which 3 we will do) and Samiah will need to do her section on what is a Zombie bank and how did it function in Japan.  

Shaun Balderson: I have completed researching my section and also completed a first draft to be looked over by the group. I will now spend my time creating my portion of the powerpoint and aiding the team in their sections of the project.

Samiah Anderson: The roles initially agreed on in week 4 has been altered, following recommendations put forward by our course conveyer Johnna Montgomerie. I will now reconstruct my section of the report on exactly what is a Zombie bank is and how did it functioned in the Japan 1990s Financial Crisis. Essentially, I hope work with new research undertaken within the context of how Government bail outs on zombie banks. Currently, I am using key dissucssions put forward by the financial textbook such as Barbara Casu et al in the ‘Introduction to Banking (2nd Edition). I will present my 1,000 in the next two weeks.

Richard Adomako: After completing initial readings on the types of polices used by the Japanese government during the crisis. I will now focus on looking at specific polices associated with remedying zombie banks. This includes looking at special taxes and liquidity polices used by the Japanese government. We have each been tasked with creating a first draft within the next two weeks.

Trudy Akobeng: As a group we have decided to analyse Japan's economic downfall with specific reference to zombie banks. Following the economic crisis, Japan kept its banks running via loans, bailouts and guarantees, however this was not sufficient in promoting economic growth. Sarah, Richard and I need to each focus on a specific policy Japan implemented in order to cure their economic "zombie disease" (Guilford, 2014).

Katherine ‪Whitaker: Since changing our purview to focus more in depth on the issues surrounding 'zombie banks' in the Japanese financial crisis, my role has changed slightly in that I will no longer be doing a broad conclusion of the Japanese financial crisis with reference to worldwide banking and financial systems. Instead, I will be writing up our conclusive overview of the notion of 'zombie banks', which will include our responses to, [and personal recommendations for] the ways in which the Japanese government dealt with the crisis, and this issue specifically. I will write this up once we have put together the three recommendations analysed by Sarah, Richard and Trudy. I have recently been reading Arbitraging Japan: Dreams of Capitalism at the End of Finance by Hirokazu Miyazaki, and will also continue my own research so as to be able to give an up-to-date evaluation and conclusion.