Fact or Fable? Misunderstanding or Misspecification? Keiretsu, the Main-Bank System, and the Japanese Economy [A book review from: Journal of Asian Economics]

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Description:
In a recent book and in a series of papers, Miwa and Ramseyer (2001, 2002a, 2002b, 2002c) challenge prevailing views on the dominating influence of keiretsu and the main-bank system on the Japanese economy. I reinterpret the authors' arguments in the context of a simple regression framework.