Record Details     « New Search       Brief Record Full Record MARC Record     Bibliographic Data Control Number 308436 Date and Time of Latest Transaction 20150706092941.AM General Information 150706s |||||||||b ||00||| Cataloging Source STII-DOST Local Call Number Opensource Main Entry - Personal Name Charles Yuji Horioka   Tae Okada Main Entry - Corporate Name National Bureau of Economic Research Title Statement A comment on Nishimura, Nakajima, and Kiyota’s “Does the natural selection mechanism still work in severe recessions? Examination of the Japanese economy in the 1990s” by Tae Okada and Charles Yuji Horioka Am Physical Description s 517-520 computer file; text; 75kb In Summary, Etc. imura et al. [Nishimura, K.G., Nakajima, T., Kiyota, K., 2005. Does the natural selection mechanism still work in severe recessions? Examination of the Japanese economy in the 1990s. Journal of Economic Behavior and Organization 58, 53–78] analyze the entry/exit behavior of Japanese firms during the 1990s and find that relatively efficient firms exited while relatively inefficient firms survived during the banking-crisis period of 1996–1997. They conclude that the natural selection mechanism (NSM) apparently malfunctions during severe recessions, but we offer a more plausible interpretation: NSM continued to function effectively even during this period, but aberrant banking practices caused a shift in the type of natural selection from directional to disruptive selection, with the most efficient as well as the least efficient firms being favored and firms of intermediate efficiency being selected against.04 Social Subject Added Entry - Topical Term ciences04Banks   d Banking -- Japan04Indust   al productivity -- Econometric model -- Japan04Forbea   nce lending DOST -- Location II Opensource NONPRINTS F(B) 13-14031 1 13-14031 Online/Download 2010-11-11 NONPRI           Physical Location           Digital Copy Not Available          Add to Book Cart  |   Download MARC