@article{oai:nagoya.repo.nii.ac.jp:00011295,
 author = {家森, 信善 and Yamori, Nobuyoshi and 西垣, 鳴人 and Nishigaki, Narunto},
 issue = {4},
 journal = {経済科学},
 month = {Mar},
 note = {In this paper, we describe the major changes that have taken place in the financial system for the past two decades. Particularly, we concentrate on the Japanese banking system and the impacts of those changes on the banks, and discuss the new challenges for the Japanese banks.  Because of negative financial legacies of the bad debt issue in the 1990s, Japanese banks are no longer major players in the international financial market. A large gap has formed between them and other major banks in the world, in terms of both financial soundness and financial technology.  The fundamental reason why the bad debt issue arose was that financial institutions were unable to respond adequately to major changes in the flow of funds in Japan that caused the bubble economy and its collapse. An innovative business model to handle new flow of funds must be constructed for Japan’s financial institutions to recover soundness and to become international players. It should be noted that although the bad debt issue is a direct cause of the stagnation of Japanese banks, a return to the 1980s heyday is implausible, even after disposal of bad debt is ended.},
 pages = {67--85},
 title = {転換期の日本の銀行 : 環境変化への挑戦},
 volume = {57},
 year = {2010}
}