Publication: Developing Long-Term Finance in Emerging Markets : Using Bank Debentures - Lessons from Japan
Date
1994-12
ISSN
Published
1994-12
Author(s)
Watanabe, Masakazu
Abstract
From the early 1950s until quite
recently, the Japanese government took an active role in
promoting a bank debenture market. This Note explains how
the Japanese bank debenture market developed and what role
these debentures played in establishing a bond market. The
debenture market started life at a time when massive amounts
of long-term capital were needed for reconstruction. Capital
markets had not yet developed, and market-base long-term
funding was seen as too risky by both investors and
financial institutions.
Citation
“Watanabe, Masakazu. 1994. Developing Long-Term Finance in Emerging Markets : Using Bank Debentures - Lessons from Japan. at a glance. © World Bank, Washington, DC. http://hdl.handle.net/10986/11678 License: CC BY 3.0 IGO.”