Journal Article

How lower Japanese asset prices affect Pacific financial markets

Abstract: The collapse of Japanese asset prices in the 1990s sharply reduced the wealth of Japanese banks and life insurers and slowed their international activity. This article traces the channels through which wealth changes altered these intermediaries' growth, pricing, and portfolio strategies. The authors also consider several factors that have eased the adaptation of foreign market participants to the revised strategies.

Keywords: Japan; Financial markets; Pacific Area;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Quarterly Review

Publication Date: 1994

Volume: 19

Issue: Spr

Pages: 19-33